KLSE Market

Mustapha to attend WTO ministerial meeting
KUALA LUMPUR: International Trade and Industry Minister Datuk Mustapa Mohamed will attend the Seventh World Trade Organisation (WTO) Ministerial Conference next week, which will discuss progress of the Doha Round.

Oil slides below US$76 in Asia Friday
BANGKOK Oil prices sank below US$76 a barrel Friday in Asia as investors curtailed their risky bets on commodities amid uncertainty about the global fallout from Dubai’s financial troubles.

US$ sinks to fresh 14-year low vs yen in early trade Fri
TOKYO: The dollar has sunk to a fresh 14-year low against the yen in early Asian trading Friday – touching 84.41 yen – before recovering to near the 86 yen level.

Japan said Friday deflation accelerated in Oct
TOKYO: Deflation in Japan accelerated in October, with core consumer prices down 2.2 percent from a year earlier, the government said Friday. The jobless rate, however, improved to 5.1 percent.

Italian PM’s wife seeks pricy US$5.3mil monthly alimony in divorce case
ROME: Premier Silvio Berlusconi’s estranged wife is seeking euro43 million (US$65 million) a year in alimony in a divorce case she launched after her husband was embroiled in a sex scandal, a bid that was immediately rejected by the billionaire media mogul, an Italian newspaper reported Thursday.

Asian stocks tumble Friday amid US$ slump, Dubai fears(update)

Enough time for goods and services tax implementation
PETALING JAYA: Experts believe the 18-month period given before the goods and services tax (GST) is implemented in late 2011 is enough time to properly disseminate information and educate consumers and businesses.

New banking laws for swift action during future economic crisis
PETALING JAYA: The new Central Bank of Malaysia Act 2009, which repeals one of the oldest laws in Malaysia, the Central Bank of Malaysia Act 1958, is to strengthen Malaysia’s resilience to financial crises in a globalised environment.

Malaysia needs quality and affordable broadband
WE have heard about the state of our broadband once too many times. The question to ask is do we pause a moment to listen to what experts or even users have to say or merely dismiss what they say?

Mida aims for RM1.5b FDIs from trip
KUALA LUMPUR: The Malaysian Industrial Development Authority (Mida) hopes to attract RM1.5bil in foreign direct investments (FDIs) from its trade and investment mission to the United States covering Los Angeles and San Francisco from Dec 7 to 12.

Pensonic beefing up heating tech revenue
GEORGE TOWN: Pensonic Holdings Bhd is targeting its heating technology business to contribute 20% to its revenue in three years.

IFSB in for financial stability talks
KUALA LUMPUR: The Islamic Financial Services Board (IFSB) council has resolved to discuss pertinent issues related to financial stability in future meetings, particularly those concerning the Islamic financial services industry.

A new product from Green Packet to keep your home safe
PETALING JAYA: Green Packet Bhd hopes to sell 500 units of the IRIX 123, an Internet protocol-based surveillance system, a month in the first year of its introduction.

Worst may be over for MAS
PETALING JAYA: Positive signs, including increasing passenger loads on Malaysia Airlines (MAS), indicate that the worst may be over for the national carrier.

Media Prima gains over 51% NSTP voting shares
PETALING JAYA: Media Prima Bhd’s voting shares in New Straits Times Press (Malaysia) Bhd (NSTP) have exceeded 51%, it said in a statement yesterday.

OCC Cables to expand Viet plant
KUALA LUMPUR: OCC Cables Bhd, which is en route for a Bursa Malaysia main market listing in February, plans to use proceeds from the exercise to expand its Vietnamese plant.

Conference on Asian bond market next month
KUALA LUMPUR: The Finance Ministry, Securities Commission (SC) and the Asian Development Bank will be co-hosting a conference on the Asian bond market here on Dec 2 and 3.

MSWG: Puncak Niaga needs to consider adjustment in Q4 results
PETALING JAYA: Puncak Niaga Holdings Bhd should make an immediate announcement to Bursa Malaysia regarding its RM339mil compensation as it impacts its bottomline, says the Minority Shareholder Watchdog Group (MSWG).

Mamee profit up on higher spending
PETALING JAYA: Consumer group Mamee-Double Decker (M) Bhd’s net profit jumped 85.9% to RM12.12mil for the third quarter ended Sept 30 compared to the previous corresponding period due to improved consumer spending as well as a favourable sales mix.

Guinness Anchor profit slides on lower sales
PETALING JAYA: Guinness Anchor Bhd’s (GAB) pre-tax profit and revenue for its first quarter ended Sept 30 slumped on lower beer sales as stocking was deferred due to the timing of the Budget 2010 announcement.

Carlsberg Q3 down on stocking change
PETALING JAYA: Carlsberg Brewery Malaysia Bhd’s net profit fell 7.68% to RM21.78mil for the third quarter ended Sept 30 compared with the previous corresponding period on lower sales due to the change in the pattern of trade stocking-up of beer from the quarter under review to the fourth quarter.

Borsig deal hits KNM earnings
PETALING JAYA: KNM Group Bhd saw net profit tumble almost 70% to RM31.92mil for the three months ended Sept 30 compared with the previous corresponding period due to the continued impact of the intangible asset amortisation arising from the acquisition of Borsig GmbH and the global economic slowdown.

Earnings in brief
KUALA LUMPUR: Results from: Measat, DRB-Hicom, Bintulu Port, MTD Capital, E&O, Can-One, TSR Capital and MAA Holdings.

Are Malaysia’s non-executive directors’ overpaid?
PETALING JAYA: KPMG’s pioneer annual study this year on non-executive directors’ (NEDs) profile, practice and pay revealed that they were remunerated on average RM89,000 a year and that half of the NEDs’ package comprised fees with allowances, other emoluments and benefits-in-kind making up the balance.

The role of the board in succession planning
FRANCE’S President De Gaulle is reputed to have said the cemeteries of the world are filled with the graves of indispensable men.

EU Chamber: China’s overcapacity worsening
BEIJING: China needs far-reaching structural reforms to root out industrial overcapacity, which is doing untold damage to domestic growth and the global economy, according to a report released yesterday.

London stock trading hakted for three hours
LONDON: The London Stock Exchange PLC halted trading for three-and-a-half hours on Thursday after a technical glitch prevented some customers from connecting to its systems.

Bookstore chain Borders UK files for a form of bankruptcy
LONDON: British bookstore chain Borders U.K. has filed for a form of bankruptcy protection and is now looking for buyers for its stores, the administrators appointed to run the company said Thursday.

Holiday Web shopping looks brighter than last year
SAN FRANCISCO: Online retailers hope the convenience of the Web, plus discounts and deals, spur still-nervous shoppers to spend more online this holiday season – even as traditional retailers brace for mediocre sales.

German inflation rate increases to 0.3%
BERLIN: Germany’s annual inflation rate increased to 0.3 percent in November from zero last month as fuel prices rose, according to preliminary data released Thursday.

Airbus to defer A380 delivery
MALAYSIA Airlines said yesterday Airbus was delaying delivery of the carrier’s first A380 superjumbo aircraft by eight months.. Managing Director and Chief Executive Azmil Zahruddin said MAS will now take delivery of its first A380 in August next year instead of January.. "We have never requested for the A380s to be delayed; all delays have been at Airbus’ request," he told Dow Jones Newswires.. The six aircraft were initially supposed to be delivered from January 2007.

Promoting green technology
GREEN technology will play a crucial role in the new economic model as it will be one of the new growth engines to the country, said Energy, Green Technology and Water Minister Datuk Peter Chin Fah Kui.

Developers against tax
ASSOCIATIONS from a broad spectrum of the property industry will submit a joint memorandum of appeal to Ministry of Finance, the latest by Monday, not to reinstate the real property gains tax (RPGT) from Jan 1 next year.. Chairman of the construction and property committee of The Associated Chinese Chambers of Commence and Industry, Datuk Teo Chiang Kok said revenue from the RPGT would be insignificant compared to the damages to the country’s image and credibility.

Ancom upbeat for 2010
Ancom Bhd, principally involved in agricultural and industrial chemicals, polymers and engineering, expects next year’s financial performance to be satisfactory, its chairman Datuk Johari Razak said.. "Looking ahead, the coming financial year will remain challenging. In facing these challenges, the group will remain competitive," he said in the company’s 2009 annual report.. Johari said the company would continue to focus on cost control measures and increase productivity to improve business profitability.

HP opens smart solutions store
KUALA LUMPUR: The Hewlett Packard one-stop Smart Office Solutions store was opened yesterday at Plaza Low Yat.. It’s run by HP authorised reseller Atoz Computer Sdn Bhd and is the first step in HP’s nationwide initiative to open such stores at key market centres in Malaysia.. HP Malaysia general manager, personal systems group, Danny Lee, said it is never easy to start up a business from scratch — even more so when faced with numerous options and decisions to be made, particularly with the vast choices of IT products and solutions available in the market.

Firefly 1 Million Target

NZ trade deficit down RM2.9b
WELLINGTON: New Zealand posted its lowest annual goods trade deficit for nearly seven years in the 12 months to October amid a slump in imports, official figures showed today.. The deficit came to NZ$1.2 billion (RM2.9b) in the year to October, the lowest annual figure since November 2002. For the month of October, the trade deficit came to NZ$487 million.

Euro stocks plunge
LONDON: Europe’s major stock markets plunged by more than three per cent yesterday after Dubai’s shock call to suspend the debt of a key state company fuelled anxiety over heavy public borrowing.. London’s FTSE index of leading shares closed 3.18 per cent lower at 5,194.13 points. Frankfurt’s DAX index fell 3.25 per cent to 5,614.17 points and in Paris the CAC closed 3.41 per cent lower at 3,679.23.. <em>NOTE: There is no Wall St report due to Thanksgiving holiday in the US</em>.  

India's Satyam fraud totals RM10.2b
NEW DELHI: Police probing India’s biggest corporate scandal said yesterday the fraud involving outsourcingcompany Satyam totalled over US$3 billion (RM10.2b), double the amount originally suspected.. The Central Bureau of Investigation (CBI) which filed new charges on Tuesday against 10 suspects, includingcompany founder and chairman B. Ramalinga Raju, warned the scandal could grow further.

Japan's jobless rate down to 5.1 per cent
TOKYO: Japan’s unemployment rate fell to 5.1 per cent in October from 5.3 per cent in September, improving for a third consecutive month, the government said this morning.. The latest rate beat the average market forecast of a 5.4 per cent rise.. The jobless rate for men dropped to 5.3 per cent from 5.6 per cent in September and for women edged down to 4.8 per cent from 4.9 per cent, the internal affairs ministry said.

KPMG: Non-executive directors paid RM89k annually
KUALA LUMPUR:  A non-executive director (NED) in Malaysia’s 300 largest listed firms receives on average RM89,000 a year in fees, allowances, emoluments and benefits, KPMG Malaysia says.. However, ta….

Media Prima posts weaker 3Q net profit of RM17.23m
KUALA LUMPUR: Media Prima Bhd’s (MPB) net profit for the third quarter ended Sept 30, 2009 (3QFY09) fell 48% to RM17.26 million from RM33.59 million a year ago.. According to a Bursa Malaysia filing….

KNM’s 3Q net profit down 70%
KUALA LUMPUR: Process equipment maker KNM Group Bhd’s third quarter (3Q) net profit fell more than two-thirds from a year earlier as revenue shrank amid a slower global economic landscape.. In a stat….

Carlsberg net profit dips 7.7% y-o-y
KUALA LUMPUR : Carlsberg Brewery Malaysia Bhd’s net profit fell by 7.7% to RM21.78 million in the third quarter ended September 30, from RM23.59 million in the corresponding period  a year ago as tur….

DRB-Hicom’s 2Q net profit dips marginally
KUALA LUMPUR: DRB-Hicom Bhd’s net profit for the second quarter ended Sept 30 (2QFY10), dipped marginally to RM61.73 million from RM62.01 million a year ago.. According to a Bursa Malaysia filing on….

Guinness 1Q net profit falls 43.5%
KUALA LUMPUR: Brewer Guinness Anchor Bhd’s net profit declined 43.5% to RM26.75 million in the first quarter ended September 2009 (1Q2009) from RM47.32 million a year earlier due to less demand for it….

No fresh leads
Shares on the Bursa Malaysia drifted in directionless trading Thursday. There was little in terms of fresh developments to spur the market, either way. There was no major change in market volume from ….

IOI shares highest in more than a year as palm oil prices soar
KUALA LUMPUR: Shares of plantation firm IOI Corp Bhd rose to its highest in more than a year after the stock advanced as much as 2.6% today against a backdrop of higher palm oil prices.IOI shares clim….

Emkay to build first green building in Cyberjaya
CYBERJAYA: An office premise to be built by Emkay Group via Joyful Getaway Sdn Bhd will be the first building in Malaysia to be accredited with the internationally recognized Leadership in Energy and ….

Husni: Government may impose GST at 4%
KUALA LUMPUR: The government plans to impose goods and services tax (GST) at 4%, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said Thursday."We are replacing the current sales and ser….

Carlsberg’s 3Q net profit dips 7.7%
KUALA LUMPUR : Carlsberg Brewery Malaysia Bhd’s net profit fell by 7.7% to RM21.78 million in the third quarter ended Sept 30, from RM23.59 million in the corresponding period a year ago as turnover d….

IOI shares hit a high as palm oil prices soar
KUALA LUMPUR: Shares of plantation firm IOI Corp Bhd rose to its highest in more than a year as the stock advanced as much as 2.6% today against a backdrop of higher palm oil prices.IOI shares climbed….