Australia approves in principle second stock exchange
CANBERRA, Australia (AP): An Australian subsidiary of Chi-X Global Inc. has been given in-principle approval to open a second stock exchange in Australia and break a monopoly that has existed since 1987, a minister said on Wednesday.
Nissan will sell electric car for just over $25K
NEW YORK (AP): Nissan’s new electric car will cost just over $25,000 when it goes on sale in the US in December, aiming to bring gasoline-free technology within reach of mainstream drivers.
Boosting Bursa Malaysias appeal
PETALING JAYA: The Government is stepping up efforts to shore up the local stock market, as it seeks to boost Bursa Malaysias appeal to foreign investors.
Prime govt land to be tendered out for private development
PETALING JAYA: In what is seen as a major initiative by the Government to unlock the value of its land, Prime Minister Datuk Seri Najib Tun Razak said several parcels of land in Jalan Stonor, Jalan Ampang and Jalan Lidcol in Kuala Lumpur have been identified to be tendered out for development by the private sector.
HLB makes new offer at previous price to EON Cap
PETALING JAYA: Hong Leong Bank Bhd (HLB) has extended a new offer to acquire the entire assets and liabilities of EON Capital Bhd (EON Cap) at its previous offer price of RM4.92bil cash.
Group may buy Pos Malaysia stake
PETALING JAYA: A consortium of buyers, headed by an entrepreneurial group coupled with private equity funds, are likely to be the parties invited to buy the 32.2% stake in Pos Malaysia which is up for sale, sources said.
New approach to increase yields of smallholders
PETALING JAYA: In line with the Governments initiatives to boost productivity of the palm oil sector, the Malaysian Palm Oil Board (MPOB) has implemented a new approach to increase the yields of smallholders.
NEM lacks critical details
PETALING JAYA: While the New Economic Model (NEM) acknowledges the need for Malaysia to reform to be more dynamic and competitive, it lacks critical details for smooth implementation that hopefully the 10th Malaysia Plan will address, say economists.
Need for social safety nets
THE New Economic Model (NEM) needs to have safety nets in place before the proposals for the overhaul of the economy can be put into action.
Eight key sectors with potential identified
THERE are eight key sectors that have been identified for inclusion in the National Key Economic Activities (NKEA) as they have the potential to thrive as the country moves into the high-income bracket.
New investment strategies
GOVERNMENT-LINKED companies (GLCs) will pursue new divestments to expand the role of capital markets under the New Economic Model (NEM), said Datuk Seri Najib Tun Razak.
Khazanah: NEMs first part a realistic outline
KHAZANAH Nasional Bhd believes the first part of the New Economic Model (NEM) is above all else an honest diagnosis, a bold prescription and a realistic outline of an implementation framework.
No choice but to change, say NEAC members
MEMBERS of the National Economic Advisory Council (NEAC) say the challenges Malaysia is facing leave the country no choice but to start changing the way things operate or face the prospect of being left behind.
Gnanalingam: PM consistent in pledge on economic reforms
THE NEM is to ensure Malaysia does not lose its competitive edge while being able to attract and retain the best talent to realise the countrys true potential, said Westports Malaysia executive chairman Tan Sri G. Gnanalingam.
Four-pronged approach to boost electronics sector
THE New Economic Model (NEM) is recommending for the implementation of a four-pronged approach to boost the countrys electronics sector.
Malaysia must act now to retain competitiveness
MALAYSIAS gross national income (GNP) is about US$7,600 annually or RM2,200 a month and currently, almost 4% of all Malaysians and over 7% of rural Malaysians live below the poverty line.
A forward looking, business friendly economic model
TELEKOM Malaysia Bhd (TM) feels the New Economic Model (NEM) is forward looking, business friendly and comprehensive as it covers all levels of the society and all sectors of the economy.
Need for different credit assessment on innovative SMEs
THE financial industry must make credit assessment differently for innovative small and medium enterprises.
NEM calls for clusters of SMEs
THE New Economic Model (NEM) calls for the formation of clusters of small and medium enterprises (SMEs) within the same location and the transformation of the Malaysian Industrial Development Authority (Mida) into an effective one-stop agency.
NEM to help boost SME sector
THE New Economic Model (NEM) unveiled by the Government will take into consideration the needs of small and medium enterprises (SMEs) and micro-enterprises which form up to 40% of income earners.
Mida may liberalise subsectors of services
MALAYSIAN Industrial Development Authority (Mida), which is expected to be corporatised latest by August and renamed Malaysian Investment Development Authority, is studying the possibility of liberalising several subsectors within the services segment to encourage more investments.
Investment community hails Govt stake sale
THE investment community has hailed the Governments move to further divest its stakes in listed companies on Bursa Malaysia as this would create more liquidity in the market.
Attracting private investment
MALAYSIAS economy will need to attract more private investments, both local and foreign, as the Governments spending power diminishes over time if the targets listed in the New Economic Model (NEM) are to be achieved.
Unlocking smallholder and R&D potential
UNLOCKING the full potential of smallholder planters and genome research are the two key initiatives identified by the Government to boost higher productivity and sustainability level of the palm oil industry in the country.
4G WiMAX can help Malaysia become high-income nation
MALAYSIAS first nationwide 4G WiMAX network has the potential to change how people work, live and communicate, according to YTL Corp Bhd managing director Tan Sri Francis Yeoh.
Pay-TV business boosts Astro net profit
PETALING JAYA: Astro All Asia Networks Plc posted a significant jump in its net profit in its fourth quarter ended Jan 31, 2010 to RM37.6mil from a net loss of RM28.8mil a year ago.
TNB eyes second quarter profit boost
TENAGA Nasional Bhd (TNB) expects a strong second-quarter profit after electricity demand surged, and had doubled its full-year demand growth forecast, chief executive officer Che Khalib Mohamad Noh said yesterday.
CIMB sees strong dealflow in 2010
CIMB Group expects the corporate deal pipeline to remain positive after a strong start to the year, chief executive officer Datuk Seri Nazir Razak said yesterday.
Tajuddin, Fauzi to head Energy Commission
KUALA LUMPUR: The Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui yesterday announced the appointment of Tan Sri Dr Ahmad Tajuddin Ali and Ahmad Fauzi Hassan as chairman and chief executive officer (CEO) respectively for the Energy Commission of Malaysia for two years, effective April 1.
GCH setting up Giant hypermarket in Sarawak
KUALA LUMPUR: GCH Retail (M) Sdn Bhd, the owner of Giant hypermarkets and Cold Storage stores, has invested RM12mil to set up a hypermarket in Miri, Sarawak.
Transmile first new airline to fly to Changi Airport
SINGAPORE: Cargo airline Transmile Air yesterday began operation into Singapore Changi Airport, making it the first new airline to fly to the airport this year.
NEM needs a professional touch
THE bold initiatives as outlined under the New Economic Model require a lot of commitment and expertise at the implementation stage.
Even Britain may be looking at tightening takeover rules
ONE of the key arguments against the proposed changes to takeover rules is that even markets like Britain have not changed their rules after considering it. So why should we?
Hutchison to focus on core businesses
HONG KONG: Hutchison Whampoa, billionaire Li Ka-shings ports-to-telecoms flagship company, said it would focus on cutting debt and investing in its core businesses this year, as it reported disappointing quarterly results dragged down by weakness in its ports and energy units.