Business This Week (March 9-13)
- CIMB Economics Research forecasted that in the worse-case scenario for the economy, the real GDP would contract by at least 5% in 1Q.- Atlantis Investment Management Ltd sold 2.3 million shares of Malaysian AE Models Holdings Bhd (Maemode), whose share price fell 22.7% from March 2 to 10.- TM International Bhd (TMI) announced plans to set share prices in a US$1.4 billion (RM51.8 billion) rights offer on March 27.
- Malaysia’s industrial production index (IPI) plunged 20.2% in January from 2008 as output from manufacturing, electricity and mining sectors contracted.- SapuraCrest Petroleum's net profit for 4Q ended Jan 31 fell 21% to RM26.3 million or 2.24 sen a share from RM33.3 million or 3.18 sen per share y-o-y.- AirAsiaX took off from KL to London on its inaugural flight after a two-year delay in plans.- Malayan Banking Bhd saw RM6.54bn wiped out from its market capitalisation in the past 11 straight days of losses after announcing its rights issue.
- Maxis plans to launch the iPhone 3G on March 20.- The Securities Commission (SC) posted a surplus of RM18.96 million in the year ended Dec 31 2008. This figure is a steep drop of 82.6% from RM108.97 million a year earlier.- Finland's Neste Oil Corporation will buy 250,000 tonnes of palm oil from Malaysia this year for its existing and new biodiesel production plants.- Public Bank shares fell to its lowest since December 2006, down 30 sen to RM7.20 with 5.5 million shares done.
- Bank Muamalat Malaysia completed its capital-raising exercise amounting to RM500 million of Tier-1 capital.- Sime Darby Bhd officially withdrew its proposal to build a low cost carrier terminal (LCCT) in Labu according to the Economic Planning Unit (EPU).- The government proposed RM60bn stimulus package for 2009-2010 which will account for almost 9% of GDP.- Government plans to issue syariah-compliant savings bonds amounting to RM5bn this year as part of the RM60bn mini-budget.
- Walton International Property Group (M) Sdn Bhd clarified it does not distribute real estate investment trusts (REITS), nor does it offer deposit-taking or interest schemes.- Standard Chartered Saadiq was named "Best International Islamic Bank" for 2009 by Euromoney.