EPF's global push for higher returns

Kuala Lumpur: The Employees Provident Fund (EPF), ranked among the biggest pension funds in the world, aims to invest a fifth of its assets abroad by 2014.

Read more: EPF's global push for higher returns http://www.btimes.com.my/articles/20111128001800/Article/#ixzz1eybc898p
This means that it could invest another RM55 billion in international markets over the next few years, said Dr Chua Hak Bin, Bank of America Merrill Lynch director of global research. At the end of 2010, the EPF had invested nearly a tenth of its funds abroad. With a size of RM462.5 billion, the EPF is ranked third in the world when measured against the size of Malaysia's economy. Based on just total assets, the EPF is fifth behind peers in Japan, Norway, South Korea and Canada. The EPF's sheer size is getting in the way of it making good returns in the local market and it will have to go outside. "Only international diversification offers scope for a and#8216;free lunch' and to push out the frontier for higher returns with less risk, in our view," Chua said. The last quarter of 2010 saw the EPF starting to invest in global sukuk (US$1 billion) and global properties with two commercial buildings in the UK worth some and#163;331 million (RM1.63 billion). Diversification will reduce concentration risk and raise average returns, giving higher potential returns to EPF holders. Easing the EPF's heavy presence in domestic capital markets will also reduce captive demand, especially for both government bonds and equities, and help develop a more active secondary market. The EPF is already the largest owner and player in Malaysia's debt and equity markets. Its equity holding is about RM163 billion, or 19.2 per cent, of the KLCI market capitalisation of RM850 billion. "Its omnipresence and continuous support of the equity market have probably made the KLCI one of the more defensive markets in the region, with a significantly lower beta." The EPF will continue receiving a lot of money from members. Both wages and the labour force are rising and contributions grew 12.1 per cent to RM38.6 billion in 2010, the highest over the past five years. Chua expects contributions to grow by at least the same pace, if not higher, this year. He reckons that the EPF is seeing net annual contributions of RM12.2 billion last year of which a third or about RM4 billion is flowing into equities and a quarter or about RM3 billion in Malaysian Government Securities (MGS).

3 Golongan yang Allah SWT berbangga dengan mereka

from Peribadirasulullah's Blog by peribadirasulullah

1- Mereka yang berada di hutan apabila mendengar azan dan Iqamah lalu dia solat , maka Allah SWT akan berkata kepadanya ” Lihatlah hambaKu solat sendirian tanpa dilihat oleh seseorang “. Maka Allah SWT menurunkan kepadanya 70 ribu Para Malaikat untuk menjadi makmum kepadanya.

2- Mereka yang bangun di malam hari solat sendirian sehingga dia tertidur dalam sujud. Maka Allah SWT berkata kepada Para Malaikat ” Lihatlah hambaKu rohnya padaKu dan badannya sujud padaKu “.

3- Mereka yang berada di medan perang, maka dia tetap tegak berdiri sehingga Syahid.

Kitab Tanbihul Ghafilin. Jilid 1 & 2 . M/S: 841.

Nota:
عن سمره بن جندب (رضى الله عنه) قال:
قال رسول الله صلى الله عليه وسلم : (احب الكلام الى الله تعالى اربع، لا يضرك بايهن بدأت: سبحان الله، والحمدلله، ولا إله إلا الله، والله أكبر )
صحيح مسلم

Sime's Q1 net surges 64pc to RM1.07b

Net profit leaped to RM1.07 billion in the quarter ended September 30 against RM654.7 million in the same period last year, mainly thanks to higher crude palm oil prices

Read more: Sime's Q1 net surges 64pc to RM1.07b http://www.btimes.com.my/articles/20111126002034/Article/#ixzz1epCe4u5T

Kuala Lumpur: Sime Darby Bhd, the world's biggest publicly-traded palm oil producer, registered a 64 per cent jump in its first-quarter net profit, mainly thanks to higher crude palm oil (CPO) prices as well as demand for its heavy equipment. Net profit leaped to RM1.07 billion in the quarter ended September 30 against RM654.7 million in the same period last year. Revenue increased by 28 per cent to RM11.1 billion. Sime Darby expects a lower net profit for the year ending June 30 2012, due mainly to possible softening of CPO prices. In its target headline key performance indicators (KPIs) for the current financial year, it expects net profit to be around RM3.3 billion. Based on analysts' earnings estimates by Bloomberg, Sime Darby is expected to post a net profit of about RM3.8 billion for the full year, an increase of 3.8 per cent against RM3.66 billion posted during the 2011 financial year. Sime Darby said the KPIs were also based on the assumption that CPO prices would be slightly below the RM2,800 level."When we talk about forecasting, it is always better to be conservative ... In our business, weather plays a key role in determining the prices of commodities. "Nevertheless, we have more than seven months to go. We will be happy if the price stayed above RM3,000 a tonne. It's a bonus," said president and group chief executive Datuk Mohd Bakke Salleh. During the quarter, the average CPO prices were at RM2,946 per tonne, against RM2,511 per tonne in the same quarter last year. There was also an increase of fresh fruit bunches (FFB) by over eight per cent. Sime Darby's industrial segment posted an operating pro-fit of RM330 million in the first quarter, up 42 per cent from a year earlier, boosted by its strong mining business in Australia. The Malaysian operations were supported by its construction and logging businesses. The group's property and automotive segments' operating profits grew three per cent and 2 per cent to RM60.5 million and RM154.7 million respectively. Operating profit from its energy and utility unit fell six per cent to RM47.3 million, due partly to power plant downtime in Thailand. Its healthcare and other units' operating profit registered 38 per cent growth to RM11.9 million, partly due to higher profit contribution from its investment in Tesco.

Airport tax saga continues

AirAsia Bhd has backtracked on an earlier statement which stressed it will not adhere to Malaysia Airports Holdings Bhd (MAHB)’s recent airport tax hike.

Read more: Airport tax saga continues http://www.btimes.com.my/articles/20111124233404/Article/#ixzz1ee0vVQk4

A post on its official Facebook fan page late yesterday morning said AirAsia would not adhere to the increase in airport tax, which will be implemented on November 25 2011. The statement was even tweeted out to its followers on social network Twitter. The post was in reference to MAHB's plans to increase airport tax for international passengers at the low-cost carrier terminal (LCCT) to RM32 from RM25 previously. A check on AirAsia's Facebook fan page later in the afternoon, however, showed that the post had been changed to read that the airline will continue to lobby for no hike in airport tax at the LCCT, with the public's support. "Look at the queue at the immigration, space for check-in counters, quality of toilets, cleanliness of the facilities and#8211; is it really worth the increase?" AirAsia's head of commercial Jasmine Lee asked in the post. Not adhering to the airport tax hike at this stage, when it has been approved by the Government,would mean that AirAsia needs to apply to the Ministry of Transport to stop collecting airport tax on behalf of airport operator MAHB. AirAsia's Tan Sri Tony Fernandes did not respond to SMSes on the matter. It is unclear if the post was the work of an overzealous employee or part of an initiative by AirAsia in its fight against the hike. Fernandes has publicly criticised both MAHB and the Ministry of Transport for the increase. Last week, AirAsia's co-founder took to twitter to vent his frustration.

My actual Birthdate (Hijrah)

DEMOCRACY AND OLIGARCHY (Reblogged from Tun Mahathir's Blog)

NOV24
2011LEAVE A COMMENTWRITTEN BY CHEDET

1. America and Europe are the great proponents of Democracy. It is the greatest system of Government. It will make countries great. Democracy guarantees there will be no oppression of the citizens (oppressing and killing other people is okay of course).

2. But now they have demanded that Italy be governed by an unelected Government of technocrats headed by Mario Monti, an economist.

3. So democracy is not the panacea for all political and economic problems. So the will of the majority cannot always be permitted to wield power. In the end democracy has to depend on oligarchy to rescue it from the capitalist abuses.

4. But then we know democracy has failed when the European democrats are looking at oligarchic China to help them out in the present financial crisis.

5. Now that the West has realised that democracy is not the perfect system it is touted to be, please stop killing people so as to democratise them.

Local freight forwarders to stop container deposits Dec 1

The Federation of Malaysian Freight Forwarders announced yesterday that it will stop providing container deposits or letter of indemnity from December 1 this year.

Read more: Malaysia freight forwarders to stop container deposits Dec 1 http://www.btimes.com.my/articles/20111123231814/Article/#ixzz1eZylKrv3

The Federation of Malaysian Freight Forwarders(FMFF) announced yesterday that it will stop providing container deposits or letter of indemnity from December 1 this year. Until recently, container deposits have been advanced by freight forwarders in an effort to shorten the time of processing container movements. With shippers (importers and exporters) having to provide their own money as deposits now, industry players said trade movements will be grossly affected. The move is seen as largely a failure on the part of Port Klang Authority (PKA) and Ministry of Transport to mediate on the matter. The practice of deposit-taking for containers by shipping lines started in 2009 and the announcement made by the FMFF is seen as the culmination of its campaign to make the practice illegal for the last two years. A move to resolve the issue initiated by PKA through an alternative container security management scheme fell flat with only five shipping lines agreeing to join the scheme in the last four months. "The position taken by Selangor Freight Forwarders and Logistics Association (SFFLA) and FMFF today is the culmination of all our endeavours and efforts to engage the stakeholders and government authorities to find a workable and acceptable resolution to this issue," FMFF said in its statement yesterday. The decision was made following an extraordinary general meeting held with 131 FMFF members to vote on the cessation of the practice. FMFF had also consulted some 15 trade associations to explain its position. It is understood that these associations had sent a memorandum to the Ministry of International Trade and Industry to resolve the issue. "The logistics chain will definitely be affected. Can you imagine if the deposit is in the form of an outstation cheque? Significant delays could happen," FMFF president Alvin Chua Seng Wah told reporters at its headquarters here yesterday. FMFF said the move was also undertaken to avoid escalating charges and ease members' cash-flow woes. Freight forwarders pay an average of between RM60,000 and RM80,000 a month for container deposits, which are only refunded between one and three months later.

Leong checks out of Firefly, may check in at Khazanah

Fly Firefly Sdn Bhd managing director Eddy Leong confirmed that he had submitted his resignation but did not disclose details.

Read more: Leong checks out of Firefly, may check in at Khazanah http://www.btimes.com.my/articles/20111122231317/Article/#ixzz1eZvtrDr9

George Town: Fly Firefly Sdn Bhd managing director Eddy Leong has quit from the community carrier owned by Malaysia Airlines (MAS). Business Times has learnt that Leong, 39, had tendered his resignation yesterday and is likely to join Khazanah Nasional Bhd. Leong confirmed that he had submitted his resignation but did not disclose details. "Yes (I have resigned)," Leong said in a one-worded SMS reply yesterday. Sources said he is set to leave Firefly sometime in December. Prior to joining MAS in 2003, Leong was in the audit and business advisory and business and risk consulting units in Arthur Andersen (which merged with Ernst and Young in 2002). He held various key positions within MAS including as project director of MAS Hotels and Boutiques Sdn Bhd and assistant general manager for the national carrier's turnaround management office until 2007 when he was handpicked by then-MAS managing director Datuk Seri Idris Jala to run Firefly. "I chose him because he is a single-minded person and not because he knows everything about running an airline," Idris had said when questioned on his choice of Leong to helm Firefly. "His strength is his focus on a specific project and I am playing up to his strength. "He is very lethal. I don't want an all-round fellow. I wanted someone who will cut down the costs and I have seen him in action when the Four Seasons Hotel was being constructed in Langkawi," said Idris, adding that there were many who questioned his choice. At Firefly, Leong was instrumental in the success of the turbo-propeller operations of the award-winning airline, which raked in profits in less than a year after starting its jet services.

It's official... I have turned 34

And life goes on...

Give us a fair hearing, Fernandes tells ministry

AirAsia CEO contends that for the benefit of Malaysia there must either be a ministry that looks after the interests of the country, or an independent regulator like Bank Negara Malaysia.

Read more: Give us a fair hearing, Fernandes tells ministry http://www.btimes.com.my/articles/20111121001244/Article/#ixzz1eHgVfhfa

Kuala Lumpur: AirAsia Bhd co-founder and Malaysia Airlines shareholder Tan Sri Tony Fernandes has called for a more objective Transport Ministry, saying that airlines are not given a fair hearing. "The secretary-general of Transport Ministry sits on the board of Malaysia Airports Holdings Bhd (MAHB) and at meetings take the side of the airport operator, how is that fair?" he told Business Times via telephone last Friday. Fernandes contends that for the benefit of Malaysia there must either be a ministry that looks after the interests of the country, or an independent regulator like Bank Negara Malaysia. He said the recent increase in passenger service charges (PSC) was an example of MOT (Ministry of Transport) not giving airlines a proper hearing. According to Fernandes, during the course of the second review on the PSC increment, AirAsia was given an hour to plead its case. international PSC was initially to be implemented on September 15. This was postponed however, pending another review when airlines cried foul. "My efforts are to ensure that airlines grow and for Malaysia to grow along. The government spent about RM300 million on the current low-cost carrier terminal (LCCT) and they managed to recoup its investments in a year. That must be a record of some sort," Fernandes said. He also said the LCCT was not subject to a subsidy from the government. "The government only subsidised KLIA if PSC didn't go up there, not in LCCT," Fernandes said. He was responding to Transport Minister Datuk Seri Kong Cho Ha's comments last Thursday which criticised him for questioning the government's recent rise in international PSC. He also derided AirAsia on its own multi-layered charges, saying that the airline increases charges "quietly". Fernandes' response was that its charges are optional. "Why should the guy who does not check in baggage have to pay the same as another that has excess? Credit card inter-change fees are high, make a direct debit payment and there is no fee," he said. AirAsia charges include a convenience fee for paying via credit card and a fee for checking in over-the-counter. "How can you justify an increase (in PSC) with such poor facilities in the LCCT? Ultimately, passengers will decide if the increase in PSC is fair," he said. In May 2007, the country's two LCCTs saw its PSC reduced to RM6 for domestic flights and RM25 for international ones. A rise in charges on November 15 will see international PSC go up to RM32.

Seksualiti Merdeka (Reblogged from Tun Mahathir's Blog)

NOV18
201124 COMMENTSWRITTEN BY CHEDET

1. Masyarakat mana-mana pun tahu adanya orang yang dilahirkan dengan jantina tidak menentu. Ada yang memiliki tubuh badan lelaki tetapi bahagian-bahagian tertentu lebih mirip kepada perempuan. Mereka dikenali sebagai pondan atau ponen dan ada yang sebaliknya, iaitu tubuh badan perempuan tetapi mirip lelaki.

2. Mereka diterima oleh masyarakat sejak dahulukala lagi tanpa banyak masalah.

3. Tetapi di Barat, kerana gerakan bagi mendaulatkan kebebasan (freedom), mereka ini digesa untuk menuntut hak supaya diiktiraf sebagai sejenis yang berlainan. Mereka juga manusia dan manusia mesti diberi kebebasan untuk melakukan apa sahaja.

4. Yang menjadi masalah ialah mereka yang tidak ada apa-apa kecacatan tetapi menuntut supaya larangan agama dan undang-undang terhadap perbuatan seks di luar tabii seperti meliwat dihalalkan.

5. Dari sini tuntutan diteruskan untuk bukan sahaja dihalalkan seks songsang tetapi juga perkahwinan sejenis, lelaki dengan lelaki, perempuan dengan perempuan. Akhirnya perlakuan seks dibebaskan di Barat sehingga apa sahaja diterima oleh masyarakat sebagai hak seseorang manusia. Anak perempuan dan anak lelaki belasan tahun pun boleh tidur dengan siapa sahaja, melakukan apa jenis seks sesuka hati mereka. Tidak ada lagi anak dara atau teruna semasa berkahwin.

6. Kita banyak terpengaruh dan menerima pendapat dan nilai hidup serta adat resam Barat. Kita hidup dalam dunia yang berpusat kepada Eropah (Eurocentric). Kita terima sistem pemerintahan demokrasi umpamanya.

7. Tetapi perlukah kita turut dan terima segala-galanya yang dilakukan di Barat? Sebenarnya budaya dan nilai hidup Barat sudah runtuh, runtuh kerana terlangsung taksub dengan kebebasan (freedom). Apa sahaja yang hendak dilakukan oleh seseorang individu tidak boleh dilarang kerana larangan bermakna menidakkan hak asasi individu atau kumpulan.

8. Sesuatu yang dilarang oleh agama memang mempunyai sebabnya. Mungkin kita tidak kenal atau tahu sebabnya. Tetapi kita harus ingat penyakit HIV Aids dahulu tidak ada. Ia mula dikenali dikalangan mereka yang mengamalkan seks songsang di California, Amerika Syarikat, secara pilihan walaupun tidak ada kecacatan apa-apa. Sehingga kini tidak ada ubat yang boleh menyembuh penyakit HIV Aids. Mereka yang mengidap penyakit ini bukan sahaja akan musnahkan diri sendiri tetapi juga isteri, suami dan anak cucu. Mereka tidak akan hidup sempurna.

9. Manusia yang bertamadun tidak menurut nafsu semata-mata. Budaya Barat menggalakkan manusia mengikut nafsu. Kebebasan bagi mereka bermakna apa sahaja yang didorong oleh nafsu tidak boleh ditegah oleh agama atau undang-undang manusia.

10. Sifat ini adalah sifat haiwan. Manusia memiliki akal fikiran. Orang yang bertamadun menggunakan akal fikiran untuk menghalang diri dari terikut-ikut dengan nafsu. Sebabnya nafsu perlu dibendung ialah sesuatu yang tidak baik akan menimpa mereka yang mengikut nafsu. Tamadun yang utamakan nafsu akan runtuh akhirnya.

11. Kita sedang melihat keruntuhan akhlak dalam masyarakat Barat. Sementara agama mereka melarang seks songsang, paderi mereka secara terbuka mengamalkan seks songsang. Mereka ditugaskan untuk mengahwini sepasang lelaki dan perempuan. Apakah maknanya apabila mereka menasihati pasangan itu supaya setia kepada masing-masing. Sesungguhnya institusi perkahwinan dan kekeluargaan sudah luput dalam masyarakat Barat. Ramai daripada mereka tidak tahu siapa bapa mereka. Kemungkinan besar akan berlaku perkahwinan atau hubungan seks antara adik dengan abang, kakak dengan adik, bapa dengan anak, anak dengan ibu.

12. Mereka yang taksub dengan kebebasan akan berkata apa salahnya jika ini berlaku. Percayalah, masyarakat selepas ini akan dipenuhi dengan manusia yang cacat tubuh-badan, cacat akal fikiran dan besar kemungkinan aneka jenis penyakit baru akan menyerang msyarakat itu.

13. Sementara kita akui ada manusia yang jantina mereka tidak jelas, janganlah kerana ingin tidak memencilkan mereka, kita terima amalan Seksualiti Merdeka atau Free Seks dalam masyarakat kita. Amalan ini bukan sahaja berdosa tetapi akan runtuhkan masyarakat kita.

Domestic activities drive Malaysia growth

Despite a challenging environment, the Malaysian economy to grew
strongly by 5.8 per cent during the third quarter, powered by domestic activities.

Read more: Domestic activities drive Malaysia growth http://www.btimes.com.my/articles/20111119012043/Article/#ixzz1eHdtPfHw

Bank Negara Malaysia (BNM) governor Tan Sri Dr Zeti Akhtar Aziz said private and public sector spending, together with firm regional demand for Malaysian commodities and nonelectrical and electronic goods, contributed to the strong growth. She, however, warned that as a highly open economy, Malaysia is likely to feel the impact of the risks to the global economy in the fourth quarter. "We expect our domestic economy and demand to continue to sustain the growth," Zeti said at a media briefing on the country's economic growth here yesterday. The momentum of public investments, which were slow during the first half of the year, picked up in the third quarter. This will continue in the fourth quarter, while year-end bonuses will also have an impact on domestic spending. High commodity prices contributed to higher income of producers in the rural areas, which lent to higher spending. The Statistics Department yesterday also revised the growth numbers for the first and second quarters to 5.2 per cent and 4.3 per cent respectively. During the third quarter spanning July till September, domestic demand grew by 9 per cent, while most of the economic sectors improved except for mining, which has been contracting since the third quarter of 2010. Agriculture grew by 8.2 per cent, services (7 per cent), manufacturing (5.1 per cent) and construction (3 per cent), while mining contracted by 6.1 per cent. Credit Suisse economist Wu Kun Lung expects Malaysia's gross domestic product (GDP) growth performance to continue to outperform other small open economies in the next one to two quarters. While continued uncertainties in the euro zone are likely to weigh on Malaysia's exports, Wu expects private consumption growth to remain robust, partly thanks to high palm oil prices. "The impending fiscal boost from the government, in terms of rising development expenditure, cash transfers to the poor and civil servant pay rises should help boost domestic demand in the next few quarters," he said, adding that there is an upside risk to the gross domestic product forecast. On the outlook for 2011, Zeti warned that the external environment remains challenging. Close monitoring is required to gauge the impact on the economic growth and whether the domestic economy can offset the impact. "Given the recent developments in Europe, even if we have a growth rate of 4.8 or 5 per cent, this will be considered very good growth (in such a challenging environment)." The high degree of uncertainty is not positive for economic activities for their region but also other parts of the world, she added. Zeti also said that the Overnight Policy Rate, the key benchmark interest rate which has been kept unchanged at 3 per cent, is supportive of growth.

Transport ministry strikes back at Fernandes

The Transport Ministry is incensed by Tony Fernandes’ tweets which criticised Malaysia Airports and the government for raising passenger service charges for international travellers from November 15.

Read more: Transport ministry strikes back at Fernandes http://www.btimes.com.my/articles/20111118000426/Article/#ixzz1eHbViTKx

Pangkor Island The Transport Ministry has struck back at Tan Sri Tony Fernandes for his critical remarks on passenger service charge increase by the government and Malaysia Airports Holdings Bhd (MAHB). "When you point the finger at one person, three fingers point back at yourself," Transport Minister Datuk Seri Kong Cho Ha said, referring to Fernandes. He was speaking after the reactivation of scheduled flight services into Pangkor Island by Berjaya Air yesterday. Kong was incensed by Fernandes' tweets recently which criticised MAHB and the government for increasing passenger service charges (PSC) for international travellers from November 15. International PSC is now RM32 for low-cost terminals and RM65 for all other international airports. According to Kong, the Treasury has been paying RM180 million a year to subsidise the PSC increase which had been approved in 2009. This is in accordance with an agreement effected between MAHB and the government then, which states that the government compensate for any shortfall in charges that the government did not want passed on to passengers. "There were other increases that were done quietly by airlines ... I won't mention which airline. Baggage charges, golf bags, buy ticket using Visa card or credit card, even when checking in by counter ... why nobody complain?" Kong asked. The MOT also has no plans to change a directive which designates Sultan Abdul Aziz Shah Airport (Subang airport) as a turboprop and private jet area, restricting scheduled jet operations. Fernandes recently revealed plans to start a super-premium airline out of Subang airport which had raised the question of whether the MOT would consider changing the status of the airport to allow it to operate from there. The ministry confirmed that it has yet to receive any application for such an airline by Fernandes. "We will make a stand when we receive the application. There is no application, so there is no stand," Kong said.

Fernandes tweets his ire over host of issues

In a series of tweets, AirAsia CEO Tan Sri Tony Fernandes raised questions on MAHB’s operations, the effectiveness of members of parliament and the objectivity of the Transport Ministry

Read more: Fernandes tweets his ire over host of issues http://www.btimes.com.my/articles/20111115232457/Article/#ixzz1eHaZNCvr

KUALA LUMPUR: AirAsia Bhd may have called off a press conference yesterday on Malaysia Airports Holding Bhd's (MAHB) airport tax hike but that didn't stop its co-founder from taking to Twitter to vent his frustration. In a series of tweets which started in the morning, Tan Sri Tony Fernandes raised questions on MAHB's operations, the effectiveness of members of parliament (MPs) and the objectivity of the Ministry of Transport (MOT). Fernandes also questioned the need for a third runway in Kuala Lumpur International Airport (KLIA) when there are ways to increase utilisation of existing runways. "Why is KLIA building a third runway when they don't use dual mode on two runways? Heathrow has 60 million passengers with two runways. Fix the air traffic system MAHB. Would have been cheaper than building another runway," he said. Fernandes questioned why MPs, who had criticised him, have not questioned the cost of airports and fought for lower taxes for the rakyat. MOT was also not spared, as Fernandes put to task its role in regulating airports. "The (secretary-general Datuk) Long See Wool of Ministry of Transport sits on the Malaysia Airports board. How can he be objective and play fair to the airlines?" he asked. Fernandes' rant was triggered by the hike in airport tax, landing and parking charges which took effect yesterday. Last month, MAHB announced that MOT had approved a RM14 increase in airport tax for international passengers to RM65 per passenger for most of its international airports. The low-cost carrier terminal in KLIA and Terminal 2 in Kota Kinabalu saw charges go up by RM7 per international passenger to RM32. Landing and parking charges will rise in three stages over three years. Landing charges will be nine per cent higher and parking charges will be increased by 18 per cent a year.

Super-premium airline ‘is an idea '

AirAsia Bhd co-founder and group chief executive officer Tan Sri Tony Fernandes has downplayed plans to set up a super-premium airline as “just an idea”.

Read more: Super-premium airline ‘is an idea ' http://www.btimes.com.my/articles/20111115004902/Article/#ixzz1eHaEZh9b

"What I can say is if an idea like this dare materialise, and I'm not saying it will ... it would definitely involve MAS," Fernandes said at the launch of the airline's loyalty programme BIG yesterday. Minutes earlier, Fernandes said the article in a local daily which reported on the venture was "totally wrong". He declined to comment on specifics of the article. News of Fernandes' plans to have a superpremium airline which would operate out of Subang airport went viral last week after a local newspaper, quoting sources, revealed details of the venture. According to sources who spoke to Business Times, the venture is more than just an idea as initial steps to approach both the Department of Civil Aviation and Skypark Subang have been taken. Malaysia Airlines also came out with a statement yesterday in response to reports of its possible involvement in the project. "We wish to clarify that at Malaysia Airlines, we will evaluate all proposals and decide appropriately only if it makes commercial sense to us," the national carrier said in its statement. When questioned on the existence of the company Caterham Jet Malaysia Sdn Bhd, Fernandes dismissed it, saying that it is one of hundreds of companies he and his partners have set up. "Because we have so many problems with names (we've registered) everything ... there's Caterham jet, Caterham hotel, Lotus this..., Lotus everything," he said. A quick check with the Companies Commission Malaysia show three companies registered with the Caterham name. Caterham Automobile (Malaysia) Sdn Bhd, Caterham Sports Cars (M) Sdn Bhd and CaterhamJet Malaysia Sdn Bhd. CaterhamJet was the latest addition, registered just over a month ago. Fernandes called the idea of a super-premium business airline a wonderful opportunity for people who don't want to queue and want a different experience, a private jet experience and can pay for it. "But it's an idea, whether we can make it work or not, who knows," he said. Meanwhile, AirAsia expects its loyalty programme, BIG, to generate RM500 million additional sales for the airline in 2012. Fernandes said the airline expects to double its loyalty card with prepaid cards in all of the markets by the first quarter of 2012. AirAsia has affiliates in Indonesia, Thailand, the Philippines and Japan. Currently, only the Malaysian market loyalty card is attached to a prepaid card. Since its soft launch a month ago, some 65,000 customers from 115 countries have applied for their cards. The phasing out of the Tune Money VISA card will see another 40,000 cardholders migrating to the BIG card.

Management buyout of proton possible

Read more: http://www.btimes.com.my/articles/20111117002408/Article/

Nov 17, 2011 12:48 AM

"If we are offered (to bid for Proton), it is worth considering," Syed Zainal told Business Times via a telephone interview. Speculation is rife that Syed Zainal and Proton chairman Datuk Mohd Nadzmi Mohd Salleh have jointly bid for the company. Syed Zainal, however, dismissed it as "mere speculation" and said that no management buyout (MBO) plan had been submitted to the government. Such rumours sent Proton shares higher yesterday, becoming the second top gainer on Bursa Malaysia. The stock close 32 sen higher at RM3.53 with 77.1 million shares traded. Analysts said the steep rise in the share price may be due to talk that Khazanah Nasional Bhd, which is currently Proton's single largest shareholder, has found a buyer for it. "There is talk that the buyer could be Nissan or DRB-HICOM Bhd. The current board of Proton may plan an MBO as they see value in the company, which is currently trading at 0.5 times the book value," an analyst at Maybank Investment Bank told Business Times. Proton, which has a market capitalisation of about RM600 million, has about RM1 mybillion cash. Both its plants in Shah Alam, Selangor, and Tanjung Malim, Perak, are currently under utilised, offering great potential for growth. Last year, Proton's domestic sales volume grew 3 per cent to 162,012 units, supported by its popular models like Saga, Persona, Exora and Inspira. "The board is expecting that its wholly-owned unit Lotus Group International Ltd will turn around in 2013. It will be a shame to let go now," the analyst said. An analyst from TA Research believes the rise in the company's stock could be because Proton and Japan's Mitsubishi Motors Corp are close to inking a formal agreement to come up with new models. Proton's first-quarter net profit ended June 30 2011 was lower, dragged by expenses associated with the ongoing turnaround programme at Lotus Group. The company saw its earnings in the quarter fall 93 per cent to RM4.5 million from RM84.6 million a year ago.

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Bertahun-tahun naikkan lemak badan. Lemak jadi keras dan degil. Turunkan lemak badan... guna Herbalife 2-5 bulan. Berhenti, naik balik dalam masa 6 bulan... jangan risau, itu bukan lemak yang bertahun2. Sekejap sahaja boleh turunkan balik. Saya boleh bantu. Kalau Ustaz Norazman boleh buat, kenapa tidak kita?

SapuraCrest secures US$1.4b Brazil deal

Petroleo Brasileiro awards the contract to TL Offshore, a wholly-owned unit of SapuraCrest, to charter and operate three units of pipe-laying support vessels.

Read More: http://www.btimes.com.my/articles/1_4bil/Article/

Kuala Lumpur: SapuraCrest Petroleum Bhd has won a US$1.4 billion (RM4.34 billion) contract from Petroleo Brasileiro SA (Petrobras), Latin America's largest company by market value. The state-run oil producer, based in Rio de Janeiro, Brazil, awarded the contract to TL Offshore Sdn Bhd (TLO), a wholly-owned unit of SapuraCrest, to charter and operate three units of pipe-laying support vessels (PLSVs). Under the award, TLO is to construct and charter three PLSVs to Petrobras, of which one of the PLSVs will be constructed in Brazil, whereas the other two will be constructed outside of Brazil. TLO will also be responsible for the project management, procedures and operations of the PLSVs for Petrobras. The PLSVs will be deployed to perform oil and gas marine construction projects in the Brazilian water, SapuraCrest said. In a statement to the stock exchange, SapuraCrest said that revenue from the project is expected to be generated by the fourth quarter of 2014. "The award is expected to contribute positively to the group's net assets and earnings for the financial year ending January 31 2015 and beyond," the company said in the statement to Bursa Malaysia. It is understood that Sapura- Crest won the contract after a highly competitive and technically rigorous open tender process. The Malaysian oil and gas concern was competing in the tender along with other international players. "This contract is a significant milestone as it marks our entry into the vast, dynamic yet technologically challenging oil and gas market in Brazil," said SapuraCrest executive vice-chairman and president Datuk Seri Shahril Shamsuddin in a statement. He added the company's entry into the Brazilian market is part of its long-term global expansion plan. Part of the strategy also involves the proposed acquisition of Clough Ltd's marine construction and offshore engineering operations. In August, SapuraCrest signed a conditional agreement to acquire Clough Ltd's marine construction and offshore engineering operations in Australia, the UK and US for A$127 million (RM413 million). "As a technologically-innovative group with international presence, we are in a stronger position to cater to the needs of the national oil companies as well as the world's leading oil majors and independents," Shahril added.

Duo from China emerge as major players in Envair

The two, who each own 6.75 per cent or eight million shares in Envair, are Xu Sheng and Jiang Chuan Yi.

Read More: http://www.btimes.com.my/articles/WEAR/Article/

Kuala Lumpur: Two Chinese nationals have emerged as substantial shareholders in Envair Holdings Bhd, controlling some 13.5 per cent of the company. Business Times understands that they will be seeking board representation in the company soon. The two, who each own 6.75 per cent or eight million shares in Envair, are Xu Sheng and Jiang Chuan Yi. As at press time, it is not known if the duo are acting in concert with Zai Corporate Finance Ltd (ZAICF), a London-based investment banking firm, which is eyeing a 30 per cent stake in Envair. Last Friday, Envair had said that ZAICF had written in, seeking to purchase 30 per cent of the new ordinary shares in the company. ZAICF, which has done advisory work for firms such as Sime Darby Bhd, Singapore's Temasek, Hays plc and the World Bank, has a strong presence in Hong Kong and mainland market, mainly for helping list China-based companies on the AIMS market in the UK. Elsewhere, in a statement to the stock exchange yesterday, Envair said that its board of directors will meet on November 29 to discuss the ZAICF proposal. The emergence of the two new shareholders comes just a day after Envair informed the stock exchange that it received a letter of intent from the mainland's An Hong Shenzhen firm to supply two million barrels of light crude oil on a monthly basis for the next sixty months. It is understood that the two China nationals bought the shares yesterday via a series of off-market trades. They bought the shares at between 27.3 sen a share and 35 sen apiece. Some 16 million Envair shares were traded in the off-market yesterday. Envair closed yesterday at 41.5 sen a share, just 1 sen short of its highest close in four years. Envair shares have risen more than 230 per cent since late July after it appointed Mohd Anuar Mohd Hanadzlah, a former oil and gas executive as its executive director. One of the first things which Mohd Anuar did since getting appointed was to engineer the signing of a joint marketing agreement with Resscom Petroleum Sdn Bhd, which has a licence from Petronas to procure diesel and other oil and gas lubricants.