Bangtrade News

Analysts see gold hitting US$1,200 in three months

2008-03-14T19:05:00.000-07:00

By LAALITHA HUNT

laalhunt@thestar.com.my

PETALING JAYA: US gold futures, which surged to a record US$1,001.50 on Thursday, is likely to breach US$1,200 an ounce within the next three months.

MIMB Investment Bank Bhd technical analysis manager Lee Cheng Hooi said gold could hit new highs this year on expectations of further Federal Reserve rate cuts and inflationary concerns.

“Based on monthly trends, gold prices are seen to be strong as investors see gold as a real and tangible asset and safe value haven amid economic uncertainties,” he added.

Aseambankers chief economist Suhaimi Ilias said gold was used as a hedge against the weakening dollar and inflationary pressures.

“History also proves that traditionally, gold is favoured during inflationary periods,” he said, adding that gold would continue its upward trend due to the volatility in the dollar.

TA Securities head of research Kaladher Govindan concurred that gold price, which was also driven by soaring crude oil prices that had scaled to a record US$111 a barrel, would continue to rise due to the weak US economy.

According to an AFP report, Asian economic giants China and India have also boosted demand for the precious metal, which is used in jewellery, dentistry and electronics.

“Gold, which is priced in dollars, becomes cheaper for buyers using other currencies when the US unit falls in value. The dollar slumped on Thursday against both the euro and yen as fresh credit jitters swept across global markets,” the report said.

The report added that gold price had risen by about 17% so far this year, spurred also by supply problems in the world's largest producer, South Africa.

“Stoppages by miners protesting unsafe working conditions and ongoing power cuts in South Africa have hampered supplies,” it said.

On the local front, Datuk Andrew Kam Tai Yeow, chairman and chief executive of London-listed Malaysian gold miner Peninsular Gold Ltd, said the overwhelming global demand for gold bode well for the local gold mining industry.

The company has invested RM60mil in the East Coast Economic Region to build a plant in Raub, Pahang. The plant, expected to start production soon, will be able to extract 85% of the gold residue left in mine tailings.

“We would consider increasing our investment as we see a lot of potential, going forward,” he said.

However, trading in local jewellers such as Poh Kong Holdings Bhd and DeGem Bhd was thin despite the recent spike in gold price.

An analyst attributed this to the local political situation and global volatility.

The upward trend in gold price would not necessarily translate into higher share prices for gold jewellers; instead investors preferred to invest in the commodity itself, the analyst added.

The Star,

Saturday March 15, 2008

Sarawak’s corporation on anti-corruption drive

2008-03-14T19:04:00.000-07:00

KUCHING: The Sarawak Economic Development Corporation (SEDC) has signed a memorandum of collaboration with Transparency International Malaysia (TI-M) to promote integrity and combat corruption.

Under the memorandum, SEDC will put in place structures to eliminate corruption by advocating accountability, transparency and integrity in its business dealings and transactions.

The memorandum also seeks to create a culture of intolerance towards corruption and promote a culture of integrity through programmes such as TI-M’s integrity pact, a tool aimed at preventing corruption in public contracting, and a code of ethics.

SEDC will also renew its commitment to transparency, accountability and good governance in its daily operations and ensure that elements of corruption in its business dealings or operations will be addressed seriously.

The memorandum was signed by SEDC chairman Datuk Talib Zulpilip and TI-M treasurer Richard Wong.

Talib said the signing of the memorandum was part of SEDC’s efforts to promote integrity and accountability within the organisation.

He said SEDC had established a practice requiring all parties participating in its tendering process to sign an agreement that they would not influence or bribe anyone in the organisation.

“The memorandum with Transparency International is a good opportunity to reinforce what we are doing,” he said.

The Star

Saturday March 15, 2008

Obama renounces fiery pastor's comments

2008-03-14T19:02:00.000-07:00

By Andrew Stern

CHICAGO (Reuters) - U.S. presidential candidate Barack Obama on Friday repudiated what he called "inflammatory and appalling remarks" made by his Chicago pastor, seeking to quell another campaign controversy tinged with race.

Democratic presidential hopeful Senator Barack Obama (D-IL) delivers a speech at the Chicago History Museum in Chicago, Illinois, March 12, 2008. (REUTERS/Frank Polich)

The Democrat from Illinois, who would be the first black president, used stronger words than he has in the past to distance himself from widely circulated sermons by his pastor, Rev. Jeremiah Wright of Trinity United Church of Christ on Chicago's South Side.

In Wright's sermons over the years, which have been circulated in the media and on the YouTube Web site, he has called the Sept. 2001 attacks retribution for U.S. foreign policy, cited the U.S. government as the source of the AIDS virus, and railed against a racist America.

"I vehemently disagree and strongly condemn the statements that have been the subject of this controversy," Obama said in statement, responding to persistent media coverage of Wright's sermons.

"I categorically denounce any statement that disparages our great country ... I also believe that words that degrade individuals have no place in our public dialogue, whether it's on the campaign stump or in the pulpit," he said.

Obama, who is locked a close race with New York Sen. Hillary Clinton for the Democratic presidential nomination, said he had not been present during the sermons in question. Obama joined Wright's church 20 years ago, before starting his political career.

"Had I heard them in church I would have expressed that concern directly to Rev. Wright," Obama told MSNBC, adding that Wright was no longer on the campaign's spiritual advisory council, the African American Leadership Committee.

At the time he learned of the sermons, he said did not leave the church where he was married and his daughters were baptized because Wright was retiring.

DISTANCING

Previously, Obama has sought to distance himself from Wright's comments by chiding him as "an uncle you don't always agree with." But Friday's repudiation was reminiscent of one he made after Nation of Islam leader Louis Farrakhan, known for making anti-Semitic and racist comments, declared his support.

Earlier this week, 1984 vice presidential candidate Geraldine Ferraro resigned from Clinton's campaign after saying that Obama's success was due to his race. Obama refused to condemn those comments as racist because he said they were not meant that way.

In a sermon late last year, Wright, who is black, talked about why he believed voters would support Clinton over Obama.

"Barack knows what it means to be a black man living in a country and a culture that is controlled by rich white people," Wright said. "Hillary! Hillary can never know that. Hillary has never been called a nigger."

Several commentators, including one in the Wall Street Journal, said Wright's sermons were alarming as they come from the man Obama has referred to as his spiritual confidant and the source of one his books' titles, "The Audacity of Hope."

But others said it was unlikely to be a serious problem for Obama's campaign ahead of the next state nominating contest against Clinton in Pennsylvania on April 22.

"There may well be Clinton and (presumed Republican nominee John) McCain supporters who'll try to push the issue but I don't think it will settle in because too many Americans are churchgoers of one sort or another and have heard their pastor say something about 'hellfire' or whatever, and they don't agree with it," said political analyst Dick Simpson of the University of Illinois at Chicago.

Obama praised Wright, a former U.S. Marine, as a "respected biblical scholar" who has "preached the gospel of Jesus, a gospel on which I base my life. In other words, he has never been my political advisor; he's been my pastor."

Chinese Import & Export Commodities Exhibition (Malaysia) 2008

2008-02-22T23:46:00.000-08:00

Date: 18-21 December 2008
Venue: Kuala Lumpur Convention Centre (KLCC) Malaysia
Exhibit Profiles: Machinery and Electronics, Building & Decoration Materials, Household Goods, Ethical Products and Food Stuff etc.

The 8th Vietnam Int'I Textile & Garment Industry Exhibition

2008-02-22T23:42:00.000-08:00

Date: 11-14 December 2008
Venue: SECC-Saigon Exhibition Conference Centre, Vietnam
Exhibit Profiles: Chemical Fiber Machinery, Preparatory Machinery, Weaving Machinery, Knitting Machinery, Dyeing and Bleaching Machinery, CAD/CAM and Testing Machinery, Auxiliary Equipment, Parts & Accessories etc.

The 5th China-ASEAN Expo

2008-02-22T23:39:00.000-08:00

Date: November 2008
Venue: Naming International Convention & Exhibition Centre, Nanning, China
Exhibit Profiles: Machinery & Equipment, Electrical Appliances & Electronics, Building Materials, Agricultural Materials etc.

The 8th Vietnam Int'I Plastic Printing & Paper, Foodtech & Pack Industry Exhibition 2008

2008-02-22T23:34:00.000-08:00

Date: 13-16 November 2008
Venue: SECC-Saigon Exhibition Conference Centre, Vietnam
Exhibit Profiles: Plastic Injection Blow Moulding, Printing Machinery & Accessories, Packaging Print & Process System, Packaging Materials etc.

The 104th Chinese Import & Export Commodities Exhibition (CANTON FAIR-Autumn Session)

2008-02-22T23:30:00.000-08:00

Date: 15-20 October 2008
Venue: Pazhou Complex, Chinese Import and Export Fair, Guangzhou, China
Exhibit Profiles: Industrial Products, Electronics & IT Products, Machinery & Equipment, Small Vehicles & Spare Parts, Hardware, Building Materials.

19th Malaysia International Rubber, Plastic, Mould and Die Indutry Technology Exhibition

2008-02-22T23:25:00.001-08:00

Date: 24-27 July 2008
Venue: Malaysia International Exhibition & Convention Centre (MIECC)
Exhibit Profiles: Rubber & Plastic Processing Machinery, Rubber & Plastic Industrial Technology Information, Rubber and Plastic Raw Material & Chemical, Production Automotive Operating System, Material and Ancillary Parts, Rubber & Plastic Products.

19th Malaysia International Sign & Digital Printing 2008

2008-02-22T23:18:00.000-08:00

Date: 23-26 July 2008
Venue: Putra World Trade Centre (PWTC), Malaysia
Exhibit Profiles: Digital Printing & Graphics, Screen-Printing, Inject Printer, Pad Printer, Name Card Printer & Large Format Printer, Signage System & Software, Graphics Software, Holographic Product, Inks, Silkscreen, Inject Materials, Heat Transfer, Offset, Rubber Stamp Making Machine, Binding & Laminating, Engraving Router, Cutting Plotter, Cutting Plotter, Acrylic Materials, Security & Bar Code Printer, Paper Products etc.

19th Malaysia International Food Processing and Packaging Exhibition 2008

2008-02-22T23:14:00.000-08:00

Date: 23-26 July 2008
Venue: Putra World Trade centre (PWTC), Malaysia
Exhibit Profiles: Packaging Material, Packaging Machine, Plastic Container, Paper Box, Pharmaceutical Producing & Packaging Material, Packaging Tools, Relative Equipment & Material , Packaging Design etc.

Malaysia International Branding Showcase 2008

2008-02-22T23:09:00.000-08:00

Date: 4-7 June 2008
Venue: Malaysia International Exhibition & Convention Centre (MIECC)
Exhibit Profiles: Branding Franchise Industry, Fashion & Garment, Shoes & Leather Goods etc.

The 7th Indonesia International Industrial Machinery Fair (INDOMAF 2008)

2008-02-22T23:00:00.000-08:00

Date: 14-17 May 2008
Venue: Jakarta International Expo Kemayoran, Indonesia
Exhibit Profiles: Quality Detection Instrument and Equipment, Hospital Products/ Equipment, Printing & Labeling, Sign & Digital Printing, Machinery Parts and Accessories, Agricultural Product / Machinery, Packaging Machinery & Equipment.

The 103rd Chinese Import & Export Commodities Exhibition (CANTON FAIR-Spring Session)

2008-02-22T22:56:00.000-08:00

Date: 15-20 April 2008
Venue: Pazhou Complex, Chinese Import and Export Fair, Guangzhou, China
Exhibit Profiles: Industrial Products, Electronics & IT Products, Machinery & Equipment, Small Vehicles & Spare Parts, Hardware, Building Materials etc.

Skali goes No-Frills

2008-02-22T20:03:00.000-08:00

By JO TIMBUONG

ALAM Teknokrat Sdn Bhd, or Skali as it is better known, is going into the no-frills business.

In a recent press conference, the company announced its No-Frills Technology portfolio, which includes No-Frills Web Hosting and No-Frills Business.

The No-Frills Technology solutions will be targeted at SMBs (small-and medium-sized businesses) and SoHo (small office home office) users.

Under No-Frills Webhosting, SMB or SoHo users can pay a fee of as low RM35 for three years. Subscribers start off with 100MB of space and if they realise they need more, additional space can be bought.

“This way, customers pay for what they need,” Skali president and co-founder, Aimi Aizal Nasharuddin said.

Skali could not comment on its No-Frills Business offering as it is still in the midst of development.

Aimi said the No-Frills approach is also a branding exercise that would help Skali gain a better foothold in the local IT scene.

“You can think of it as an Air Asia approach for CIOs. With them, everyone can fly – with us, everyone can have an IT solution,” Aimi said. Aimi added Skali’s approach to No-Frills Technology is to make technology simple and accessible.

“Technology is now a commodity and users are more concerned with the fact that it works well,” Aimi said.

Skali will still continue with its other IT business solutions such as data hosting, systems integration and maintenance and services. These solutions will now be marketed as Premier services.

Expansion plans

Skali also announced its plans to expand into the global market, starting with South East Asia. To get the ball rolling, the company said it has already secured business deals in Indonesia and Brunei.

The company said it is helping the Indonesian government prepare an IT blueprint for West Java.

Its business in Brunei concerns capacity building and training for Skali’s technology platform and other technologies under the Brunei Economic Development Board.

Skali also has its eyes set on China and the Middle East. In China, it plans to target its products at the retail sector.

Aimi added that Skali will tread carefully in the Middle East market after learning an expensive mistake in the past where it experienced lacklustre performance.

“Our entry into the Middle East did not go as planned but we are cooking up some new plans to re-enter that region,” he said.

Assessed on Thursday February 21, 2008,

The Star Online

http://bangtrade.com

U.S. seeks Australian view on China's regional role

2008-02-22T19:56:00.000-08:00

By Kristin Roberts

CANBERRA (Reuters) - U.S. officials will press Australia on Saturday for an assessment of China's growing strategic and economic role in the region, as Washington tries to determine what impact a new government in Canberra will have on Australian ties with Beijing.

U.S. Defense Secretary Robert Gates and Deputy Secretary of State John Negroponte began a series of meetings with Defence Minister Joel Fitzgibbon on Saturday morning, aiming to secure a renewed commitment from Australia's new government to the Washington security alliance.

Gates and Negroponte are the highest ranking Bush administration officials to visit since Prime Minister Kevin Rudd's centre-left Labor Party won power.

Rudd, a former diplomat who speaks fluent Mandarin, is seen by U.S. officials as a China expert and someone who could act as a bridge between Beijing and the West.

That expertise is what U.S. officials hope to tap into on Saturday as they seek Australia's views on China's military build-up and growing influence in the region.

"Both of us I think look forward with interest to our meetings with the Australians on this particular subject because Mr. Rudd himself is a China expert," Negroponte said.

"So that's certainly an issue that's going to be on the agenda in terms of exchanging views and impressions and analyses about the relationship with China."

Relations between China and the United States have improved since 2001, when the countries' militaries broke contact following a collision between a Chinese fighter jet and U.S. spy plane.

But many differences remain between Beijing and Washington over China's military build-up, U.S. weapons sales to Taiwan and the countries' positions on international issues.

Military relations were strained again late last year when China denied a U.S. Navy aircraft carrier group and two smaller ships access to the Hong Kong port.

Those events and others have led U.S. officials to charge China with failing to live up to its obligations as a "responsible" power.

Some U.S. officials and Washington security experts point to China's significant economic role inside Australia as something that could complicate Australia's attempts to deepen relationships with both Beijing and the West.

"The importance of the Chinese market to Australia is profound," said one defence official travelling with Gates. "We forget that."

But both Gates and Negroponte rejected suggestions that Australia's economic ties with China would hurt its security ties with the United States.

"I don't think that any government is going to put its fundamental security interests at risk over an economic relationship," the Pentagon chief said.

Negroponte said the two were not mutually exclusive.

"I don't think there's anything incompatible with developing an economic relationship with China and also managing our bilateral relationship and the alliance," he told reporters.

Assessed on Saturday February 23, 2008 MYT 10:46:08 AM

The Star Online

http://bangtrade.com

TM, Asia Netcom in deal

2008-02-22T19:46:00.000-08:00

KUALA LUMPUR: Telekom Malaysia Bhd and Hong Kong-based Asia Netcom have signed an agreement for network-to-network interconnection (NNI), which will further expand both companies’ telecommunications coverage into South-East Asia and the Middle East.

Datuk Zam Isa, chief executive officer of Malaysia business at TM, said the agreement would provide its customers with improved connectivity services.

“By leveraging on Asia Netcom’s network, our customers will be able to enjoy better cellular services to the most populous regions in the Asia Pacific,” he said.

In return, Asia Netcom will leverage on TM’s global presence — specifically in the Middle East and throughout South-East Asia — to further enhance its presence in those regions.

Asia Netcom operates an extensive telecommunications network infrastructure in the Asia Pacific, including a privately-owned submarine cable system.

Assessed On Wednesday January 2, 2008, The Star Online

http://bangtrade.com

Maybank to go IP VPN

2008-02-22T19:39:00.000-08:00

PETALING JAYA: Telekom Malaysia Bhd and Maybank Bhd have signed an agreement to migrate the bank's branch network from a legacy frame-relay system to one using an Internet Protocol Virtual Private Network (IP VPN).

Datuk Adnan Rofiee, TM Retail chief operating officer for Malaysia business, said that with the Internet already playing a vital role in today’s business environment, the Internet Protocol standard is the de facto protocol for data and communications.

"Our IP VPN service will allow our customer to make use of Internet communications in a private and highly secure environment,” he said.

IP VPN enables the exchange of encrypted confidential data. Other benefits, according to Telekom Malaysia, are a reduction in network complexity, easier network management and improved cost effectiveness.

Maybank said it will use the IP VPN service to operate more than 400 branch networks, more than 1,000 Automatic Teller Machine sites, and more than 160 point-of-sales merchant networks.

Frame-relay technology is a data networking service that involves packet switching between local-area networks and wide-area networks to exchange digital information.

Assessed on Tuesday January 8, 2008

The Star Online.

http://bangtrade.com

TM launches Malacca broadband project

2008-02-22T19:37:00.000-08:00

By STEVEN DANIEL

MALACCA: Telekom Malaysia Berhad (TM) launched its first state-led broadband infrastructure initiative in Malacca following the state government’s aim to achieve broadband port availability of 75% of its households by the end of the year.

The project dubbed the “Melaka Broadband Project” is the second joint initiative in the country between a state government and an Internet service provider (ISP).

Just a week ago, Jaring Communications Sdn Bhd had agreed upon a RM2.5mil project to develop wireless (WiFi) broadband in Malacca.

TM Malaysia Business chief executive officer Datuk Zamzamzairani Mohd Isa said the sharing of the RM31.5mil infrastructure costs with the Malacca state government would allow them to provide an additional 25,000 broadband ports and reduce the subscription rates.

In the news: TM Content and Digital Home assistant manager Zaiton Ayub reading the headlines at The Star Online as Malacca Chief Minister Datuk Seri Mohd Ali Rustam (left) and Zamzamzairani (right) look on.

He added that the additional ports would be installed in two phases and be completed by the year end.

“This will help encourage the people here to sign up for broadband, while enjoying the benefits of a faster Internet connection,” he said before the launching at Dataran Pahlawan Megamall recently.

He said this initiative falls in line with the government’s target of achieving a 75% household broadband penetration rate nationwide by 2010.

Zamzamzairani said the reason TM had chosen Malacca as the first state to develop this concept was because they already had everything in place.

“We chose Malacca because in terms of infrastructure, they are well ahead compared to the other states and we had agreed to develop this project on Aug 15 last year,” he said.

The first 25,000 new subscribers of the Streamyx Basic 512Kbps, 1.0Mbps and Business SOHO 1.0Mbps packages would receive savings up to 33% of their monthly charges for the first 12 months.

For details, visit www.tm.net.com.my.

Assessed on 19-Jan-2008, The Star Online

http://bangtrade.com/

Petrol to be included in stockpile list

2008-02-22T19:31:00.000-08:00

KUALA LUMPUR: Petrol will be one of the goods to be listed on the government stockpiles in the future.

Domestic Trade and Consumer Affairs Minister Datuk Shafie Apdal said the stockpiling is a step to ensure the country has enough of such goods and it would help to stabilise prices.

“We will have the first (National Price Council) meeting as soon as the Prime Minister returns from Davos, Switzerland.”

“Petrol is one of the items that we might consider on the list,” he said.

Shafie declined to reveal the entire list that would be discussed during the meeting to be chaired by Datuk Seri Abdullah Ahmad Badawi.

It was reported that among the essential goods to be listed on the stockpile list include cooking oil and rice.

Deputy Prime Minister Datuk Seri Najib Tun Razak had announced on Wednesday that the setting up of the stockpile, council and a National Call Centre as part of the strategy to combat rising prices especially due to escalating oil prices globally and climate change.

“We need to address the issue for the long-term as shortages can occur even for amply produced items.”

Shafie said the stockpiling of the goods would not lessen the current supply in the market.

He said this after launching the Taste of Malaysia Business Matching 2008 Programme organised by his ministry and GCH Retail (M) Sdn Bhd on breaking into the Hong Kong market.

On the street protest against price hikes at KLCC today, Shafie said it would bring more damage than good.

“We are trying to control rising prices and the council will be a big step in achieving that as we don’t want consumers to suffer.”

The protest is organised by a coalition of non-governmental organisations and opposition parties.

Assessed on Saturday January 26,2008, at The Star Online.

http://bangtrade.com

Some foreign investors want to stay on, says Abdullah

2008-02-22T19:29:00.000-08:00

KUALA LUMPUR: Malaysia’s business-friendly climate, political stability and low cost of living has attracted many foreign investors and expatriates, with some wanting to stay here permanently, said Datuk Seri Abdullah Ahmad Badawi.

The Prime Minister said there were also foreign executives who wanted to take up permanent residence in Malaysia.

“I’m very happy because this is an indication that they like Malaysia. They know it is a good country to work and invest in. That’s very good,” he told a press conference here after officially opening the Pavilion Kuala Lumpur yesterday.

Abdullah said the economy and ringgit were stable, with the country’s rules and laws facilitating, not frustrating, business and investment.

In his speech earlier, he said the Government was committed to developing the luxury tourism segment, which included upmarket hotels, resorts, high-end shopping, dining and entertainment outlets.

He said Pavilion would help establish Malaysia, specifically Kuala Lumpur, as a leading shopping destination.

Abdullah noted that tourist spending for shopping reached RM6.8bil in the first half of 2007, which was a significant 86.3% growth compared to the corresponding period the previous year.

He said the Government was aware that to develop Kuala Lumpur as an international shopping centre, it was imperative that proper procedures, incentives and promotional activities be made available to accelerate the process.

This included allowing tourists from certain countries visas upon arrival, and waiving high duties and taxes on branded goods to encourage retail participation in the luxury segment.

At the 2007 National Youth Awards ceremony at Bukit Jalil earlier, Abdullah urged Malaysians to be “world class” in whatever they did.

Malaysian Youth Council president Datuk Shamsul Anuar Nasarah was named the male youth personality while Sungai Tiang assemblywoman Suraya Yaacob was the female youth personality.

Addressing the Malaysian Associated Indian Chamber of Commerce and Industry (Maicci) gala dinner here last night, the Prime Minister reassured the Indian community that they would not be left behind in the national development agenda.

“I have listened to the problems addressed by the every sector of the Indian community, including your group tonight, and I will do everything to improve the situation from now on,” he added.

Assessed on Friday February 1, 200, at The Star Online

http://bagntrade.com/

PM: Improved economic performance and government efficiency

2008-02-22T19:24:00.000-08:00

PUTRAJAYA: Malaysia improved its rankings in government efficiency and world competitiveness last year compared with eight years ago, Datuk Seri Abdullah Ahmad Badawi said.

The Prime Minister, quoting statistics obtained by the World Competitiveness Yearbook released by the Swiss-based IMD (one of the world’s leading business schools), said Malaysia’s economic performance last year was sixth in the world.

The ratings, of countries with a population of more than 20 million, also put Malaysia as the world's 19th leading trading nation.

In terms of government efficiency, Abdullah said Malaysia was ranked sixth last year, up from eighth in 2000.

“We ranked better than Britain, Germany, Thailand, Spain, Japan, Russia and France. Not bad, huh?” he noted, adding, however, that China, Canada, the United States, India and Taiwan fared better than Malaysia.

Rapt attention: Civil servants listening to the Prime Minister’s speech at the 8th Civil Servants’ Premier Gathering at the Putrajaya International Convention Centre Monday.

Malaysia’s business efficiency was “especially good”, he said, with the ranking climbing to fourth from 13th last year. The country’s infrastructure ranked 10th in the world compared to 13th in 2000, he told 8,000 civil servants at the 8th Civil Servants’ Premier Gathering at the Putrajaya International Convention Centre yesterday.

Abdullah said Malaysia’s world competitiveness ranking improved to the eighth position last year from 10th in 2000.

He said the seven countries which did better were the United States, Canada, Australia, China, Germany, Taiwan and Britain.

Saying “Malaysia Boleh,” Abdullah said Malaysians should improve in their work and perform even better than last year.

On hardcore poor families, Abdullah said the percentage dropped to 0.7% last year from 1.2% in 2004, according to initial statistics from the Economic Planning Unit’s household income survey last year.

He said this was an indication that the Government’s plan to eradicate hardcore poverty would be achieved sooner than the target year of 2010.

The remaining hardcore poor families in the country must be identified and given help, he said.

”It is our objective and responsibility to achieve zero hardcore poor in the country by 2010,” he said.

Abdullah said the ratio of income between rural and urban areas dropped from 1:2.11 in 2004 to 1:1.99 last year.

Abdullah said that the income gap among the three races had also narrowed.

“The income ration between the bumiputras and the Chinese dropped from 1:1.64 in 2004 to 1:1.52 last year while that between the bumiputras and the Indians fell from 1:1.27 to 1:1.23,” he said, adding that the ratio between Indians and Chinese dropped from 1:1.28 to 1:1.23.

By V.P.SUJATA

The Star Online, Assessed on Tuesday January 29, 2008

http://bangtrade.com/

Malaysia is hosting the ecoStyle Award

2008-02-22T19:11:00.000-08:00

MALAYSIA, which has been acknowledged as one of the most pro-active developing countries in Asia in adopting environmental policies, is taking its role as environmental spokesperson one step further by sponsoring and hosting the inaugural ecoStyle Award.

The nominations for the ecoStyle Award will be announced at the International Media launch in Los Angeles, USA, on Oct 17 and Malaysia is proud that one of its own has been selected as one of the nominees.

The ecoStyle Award, an initiative by ecoStyle, is a joint venture by NYC Inc. and IMG Fashion (two leading international event and marketing specialists) and is supported by Tourism Malaysia and Earth Pledge.

The ecoStyle is an international event and Asia’s first dedicated event that will focus on the importance of ecological sustainability and the environment through style and design.

Specially made: A picture of an eco-friendly bicycle made from sustainable material.

The event’s mandate is to educate the broader design industries and consumers on the importance an increased environmental consciousness will have on the future of planet earth.

A world-class design award, the ecoStyle Award is a global search for the most environment friendly, stylish innovations in design.

This international award was established to honour leading designers from the fashion, architecture or product design arena – for their creativity and efforts to present environmentally sustainable initiatives and opportunities to the world.

Going green: The Earth Pledge Green Roof initiative supports the development of green, vegetated roof tops in urban areas to prevent storm water run off polution, lower urban temperatures, and improve air quality.

The ecoStyle Award winner – for outstanding achievement in the field of environmental design – will be announced at the Future Fashion Gala Fundraising Event on Nov 22 in Malaysia.

The entries for the ecoStyle Award will be judged by the ecoStyle selection committee made up of high profile members from style and design communities around the world with a legitimate understanding and interest on the importance of environmental sustainability for the future of the planet.

The ecoStyle selection committee will look for excellence in uniqueness of the design, materials used, effectiveness in achieving its objective and relevance to ecological sustainability. Nominees for the award include famous brands, designers and architects.

Effectively, the ecoStyle Award not only creates an opportunity to communicate further the extraordinary talents of designers globally, but also celebrates the success of those working in the environmental field of design, and those wanting to look at the opportunity to incorporate sustainability into their work; moving towards a green future, which from current media attention, is a growing number of global brand names in every field, from LVMH luxury group to News Corporation, to H&M to Shell.

As a country with the privilege of possessing a natural trove of sandy beaches, great old forests and precious wetlands, Malaysia is in a key position to advocate for environmental sustainability even in a modern, capitalist context.

At the same time, environmental sustainability has been consistently addressed in Malaysia’s development plans.

Malaysia is also the first country within Asia to take active steps to acknowledge that environmental sustainability is important for the future of the planet, having taken the necessary steps years ago with respect to adopting policies for conversion from industrial to tourism.

For more information on ecoStyle, visit http://www.ecostylemalaysia.com

Assessed on Saturday October 13, 2007, at Metro, The Star Online

http://bangtrade.com

Upgrade enhances Penang airport’s gateway role

2008-02-22T18:59:00.000-08:00

Malaysia Airports Holdings Bhd’s (MAHB) RM70 million investments over 2007 and 2008 to upgrade the Penang International Airport is set to enhance the role of the northern gateway for trade, investment and tourism.

MAHB managing director Datuk Seri Bashir Ahmad said the importance of Penang as a growth centre in the north, would see continuous investments committed by the airport operator as and when the need arises.

“With the opening of an additional 31 check-in counters on Monday from 31 now, the airport will be able to handle 2,900 passengers per hour.

“This compares with the 2,000 passengers per hour the airport is currently handling,” he said at a signing ceremony for an integrated network and terminal application at the Penang airport, which was witnessed by Transport Minister Datuk Seri Chan Kong Choy, yesterday.
MAHB and Sita Inc signed an agreement for the Penang airport to be equipped with the “Airport Connect Open” common use passenger processing system.

Sita is a global service provider of integrated information technology business solutions and communication services for the air transport industry.

Asked whether Penang will get a low-cost carrier terminal (LCCT), Chan said now that the airport has doubled its number of check-in counters and MAHB has invested substantially in the airport’s baggage system, runway, apron and taxiway, there is no need for such a terminal.

The Penang state government had earmarked a 36ha site adjoining the Penang airport for an LCCT.

By Marina Emmanuel

16^th Feb 08, Biz News, New Straits Times

http://www.bangtrade.com/

State to set up one-stop investment authority

2008-02-22T18:54:00.000-08:00

Sabah will see tip a one-stop investment authority called the Sabah Economic Development Investment Authority (Sedia) to facilitate investments in the state.

Executive director of institute for Development Studies in Sabah, Datuk Dr Mohd Yaakub Johari said Sedia will be governed by a board of directors comprising the prime minister and the Sabah chief minister as co-chairmen.

“It will operate in line with best practices of corporate governance recognized globally and run by a pool of top-notch management talent

“Sedia will ensure that investors in the identified high priority sectors have one point of contact to obtain the necessary approvals, licenses and available incentives for set-ups,” he said.

Dr Yaakub said Sedia will also ensure that infrastructure and logistic projects are timely executed.

He was speaking at a briefing on the Sabah Development Corridor for the South Korean Ambassador to

Malaysia

, Yang Bong-ryull, during the latter’s visit in Kota Kinabalu yesterday.

Yang was leading a nine-member delegate to look at business opportunities in Sabah, particularly in petrochemical and plantation sectors.

By Julia Chan,

16^th Feb 08, Biz News, New Straits Times

http://www.bangtrade.com/