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

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

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

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."

Copyright © 2005 Reuters

Skali goes No-Frills

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

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

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

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

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

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

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

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

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

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

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/

MISC focused on youth development

For MISC Bhd, the world's single largest owner-operator of liquefied natural gas (LNG) tankers, the concept of corporate responsibility (CR) goes beyond philanthropy and public relations.

The shipping giant's CR programmes propel quantitative and qualitative long-term growth that benefits the group, shareholders as well as stakeholders.

Its CR programmes also support Malaysia's bid to become a prominent maritime nation.

Dealing with the complex and advanced LNG and other types of energy transportation, MISC has long anticipated the present shortage of skilled seafarers.

It has been working on and investing in various educational and training programmes for youths.

It is speculated the global shortfall in shipping manpower has doubled to 20,000 in the last two years.

Group corporate affairs general manager Fiona Clare Pereira told StarBiz that MISC CR-related programmes continued to focus on youth development this year.

“As Malaysia is envisioned to be a maritime nation, MISC is committed towards the provision of efficient human capital to support this vision, focusing on our very own Malaysian Maritime Academy (Alam).

“For the financial year ended March 2007, more than RM16mil was invested in our cadet sponsorship programme at Alam,” she said.

Today, she added that many of the sea captains in Malaysia's maritime-related industries were Alam graduates and MISC was proud to be the contributing factor behind their success.

“And many more graduates of calibre are already in the making,” she said.

“Although they may not be on life-long employment with MISC, our CR towards fulfilling Malaysia's aspirations of becoming a maritime nation will always be at the forefront of our commitment,” she said, adding that this also ensured the availability of seafarers for MISC's growing fleet.

According to Pereira, its latest CR programme, “Navigate Your Career” is an effort to prepare university students to enter the real “working world”.

“MISC wishes to prepare them to be more adaptive to the changes and progression of the job market,” she said, adding that the programme was launched last July in various universities across the nation.

She said the three-part programme, “Educate, Engage & Expose - Navigate Your Career”, was geared towards enhancing employment awareness via guidance initiatives imparting soft skills and insights into career development.

This CR programme is inclusive of road shows, an online resource centre and practical attachment.

About 3,000 undergraduates participated in this programme whilst eight students have just completed the student attachment pilot project.

“We believe our latest effort in social development will help create a more buoyant local graduate pool in the near future,” Pereira said.

Also last February, MISC and Universiti Teknologi Malaysia (UiTM) signed a memorandum of agreement (MoA) for the establishment of Professorship Chair in marine technology at UiTM.

The chair is tasked with bridging the gap between what the academic institution is offering and the maritime industry’s needs for qualified personnel and technological advancement to meet the present and future challenges.

The establishment of the chair would further enhance research in maritime technology, which would benefit the maritime sector in Malaysia.

MISC and UiTM have also jointly established a Marine Technology Research and Development Database at UiTM.

The database focuses on marine technology research and development data throughout Malaysia.

In terms of health and safety in the workplace, MISC does not confine itself to a specific programme or scheme.

Its corporate health, safety and environment general manager Captain M.K. Ganesan said several programmes usually ran all year round.

“Promoting healthy lifestyle, safety and protecting the environment are some of the programmes that have been rolled out,” Capt Ganesan said.

“Onboard our vessels, we have an ongoing campaign - Zero Incident Zero Accident (ZIZA) - for our officers and crew to be vigilant at all times,” he added.

In the last financial year, 13 ships recorded their third year ZIZA safety performance; seven ships, their second year; and 13 ships passed their first year.

Capt Ganesan said another significant project launched in 2006 was the MISC fuel efficiency campaign.

“The fuel saving measures not only reduce consumption but also environmental pollution.

“Burning one or two extra tonnes of fuel oil on a voyage can have much effect on the overall fuel cost and environmental pollution.

“The cost becomes substantial when this is extrapolated within MISC's entire fleet,” he said.

To MISC, CR is not only about making a positive impact on society and the environment but also generating sustainable benefits to society as part of maintai ning a long-term competitive business.

By SHARIDAN M. ALI

Saturday February 23, 2008, The Star Online

http://www.bangtrade.com/

RM 4b business within a year seen

The developer of Kenaga Wholesale City (KWC), a one-stop centre for garment wholesalers, believes that within a year of operation, its tenants will have transacted business valued at RM4 billion.

KWC is a wholesale market concept akin to Dubai’s Gold Souk. It is being developed in the Pudu area of Kuala Lumpur.

The building, when ready in 2010, is expected to house most of the wholesalers already in the Jalan Kenanga area (behind the Jalan Pudu Fire Station) and to rope in new ones too.

Built by Kenanga Wholesale City Sdn Bhd, the 22-storey building will have a gross built-up of 1.8 million sq ft.

The relocated retailers together with new players, including those in the shoe and handbag business, are also expected to spur export business.

“The Wholesale City’s history began 20 years ago at Kenanga area with small wholesale business. (How-ever) the area surrounding it is not hat impressive, there is traffic congestion, lack of car a constant problem,” Kenanga Wholesale City Sdn Bhd chief executive officer and managing director Yee Ia Howe said.

“There are about 350 wholesale operators in the Kenanga area, who are operating from shop-houses. Their current transaction value is about RM2 billion, of which 30 per cent is exported and 70 per cent is for the local market.

“With the Wholesale City, we will offer more space, including for newcomers,” he said.

Yee added that KWC hopes to not only double the value of the current business but to grow exports to a level that puts foreign and local demand on equal footing.

“We expect business transaction to be RM4 billion within a year of operations,” he said.

This will also be made possible by KWC working together with the Malaysia Garments Wholesale Merchants Association to promote the market overseas, targeting in particular Singapore, south Thailand, Cambodia, the Philippines, Brunei and the middle-eastern countries.

Kenanga Wholesale will be built on a 1.29ha piece of land, which used to be the site for Tenaga Nasional Bhd staff quarters.

The new building will have a gross development value of billion.

About 70 per cent of the KWC spaces have already been sold, with 10 per cent of the buyers being investors who have leased their property back to the developer.

Yee expects some 792 retail lots, measuring between 300 sq ft and 600 sq ft to be taken up within the next four to six months.

KWC will also continue to hold some of the floors which translate into 51per cent control of the mall space.

“This will ensure that the developer will be able to control and manage the property and safeguard the investment of the owners,” he said.

By Vasantha Ganesan

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

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New publication on share investment out in March

Shares Investment (Malaysia), a monthly publication containing comprehensive facts and figures of all companies listed on Bursa Malaysia will be launched on March 22.

A strategic alliance between Pioneer & Leaders (Malaysia) Sdn Bhd and Next View Sdn Bhd, the publication will also be distributed in Singapore, and is expected to help create more international awareness on the value of Malaysian stocks.

Pioneers & Leaders chairman Phan Tjun Sern is optimistic of Share Investment (Singapore), which was launched some 12 years ago and currently enjoys sales of more than 30,000 per month.

“Investors would find the information provided in this publication useful. Since this book will be sold in nationwide, as well as in Singapore, we are optimistic of seeing the circulation easily reaching 60,000 per month within two years,” he said money witnessed by Bursa Malaysia chief executive officer Datuk Yusli Mohamed Yusoff in Kuala Lumpur yesterday.

Phan said Shares Investment (Malaysia) is priced at RM12 per copy but investors can get a copy of the publication free for the first three months.

“The first three months would be promotion period and we would distribute these publications via stock-broking firms. Those who have CDS accounts with the stock-broking firms can get their copies for free.

After the three months, he said, the publication would be sold for only RM2 for the next four months.

In addition to this, the company had also launched Share Investment (Shanghai) in China in October last year and the publication has reached a readership of more than 100,000 within the first three months.

By Anna Maria Samsudin,

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

http://www.bangtrade.com/

Government Subsidies may total RM81b this year, says Nor Mohamed

The government is estimated to spend RM81 billion on all forms of subsidies this year to help Malaysians cope with rising prices, the Second Finance Minister said.

Tan Sri Nor Mohamed Yakcop said the sum includes the subsidies for petrol, diesel, education, healthcare and text-books.

“The figure is huge, but his is what the government is doing to ensure that the people in this country are not unduly burdened by excessive prices,” the said during an interview on RTM1’s morning program, Selamat Pagi Malaysia, yesterday.

Nor Mohamed stressed that subsidy was a form of assistance to the people and part of the government’s budget. If this was not given, the prices of certain goods and services would rise very fast.

He said that although the government has been giving out subsidies all this while, it has taken steps to increase them recently in view of the fast-rising prices globally over which Malaysia has little control.

The government is seeking to ease the burden on Malaysians through subsidies in different forms, he added.

Although petrol and diesel usually come to mind with regard to subsidies items, Nor Mohamed pointed out that the government also heavily subsidies the education sector.

He said that Malaysia spends RM29 billion every year to subsidies educational needs and RM9 billion on healthcare.

“For example, education; if there are five children in a family, it will get RM2000 every month as subsidy. This will help the family in its budgets,” Nor Mohamed said, adding that not all countries fully subsidies education to the tertiary level.

Nevertheless, he refuted claims that Malaysia was becoming a welfare state.

“We always focus on education to help lift people out of poverty and promote their upward mobility in society.

“But welfare state has a different meaning. It means that a government is providing almost full support for the unemployed even though these people may be not working by their own choice,” he said.

“In that sense, we don’t agree with the welfare state context as suggested by the opposition (political party). That is not productive and does not make economic sense,” he added.

By Chong Pooi Koon

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

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