Lesen Niaga

Maybank to benefit from strong account savings growth

2012-05-15T23:22:00.000-07:00

Posted on May 16, 2012, Wednesday

KUCHING: Malayan Banking Bhd’s (Maybank) prospects backed by moderate domestic growth and slight non performing loans (NPL) compression.

According to OSK Research Sdn Bhd (OSK Research), it expected Maybank to report commendable first quarter 2012 (1Q12) results with pre-provision operating profit growth expected to come in at a relatively robust 19.3 per cent, underpinned by a total revenue growth of 22.5 per cent.

The group’s ability to sustain its overall group loans growth at 16 per cent and Maybank Kim Eng’s (Maybank Group’s regional investment banking arm) non-interest income contribution were expected to be the key drivers of year on year (y-o-y) revenue growth.

The research firm forecasted a full-year net interest margin (NIM) compression of six basis points (bps) to 2.47 per cent for financial year 2012 (FY12) in view of the continued pressure on NIMs faced by Bank Internasional Indonesia (BII) in Indonesia, for which OSK Research anticipated a further 20bps compression.

However, with Indonesia’s loans book contributing to a relatively small eight per cent of the group’s total gross loan base, the impact on overall group NIMs would be well cushioned by stable NIMs in Singapore and only a slight deterioration in Malaysia, due to strong current account savings growth.

The research firm also noted that given the expected headwinds from the more stringent consumer lending practices, domestic loan growth was expected to ease marginally to eight per cent to nine per cent versus FY11’s 10 per cent growth, while the group’s overall loan growth of 14 per cent to 15 per cent would continue to be driven by Singapore and Indonesia.

Despite the more stringent domestic consumer loans credit underwriting standards, domestic consumer loans would continue to lead overall domestic loan growth.

Mortgages would continue to be the key driver, as reflected in the strong mortgage loans approval growth of 51 per cent over the past 12 months. Domestic auto financing loans growth was expected to hover at 10 per cent to 11 per cent.

The research firm added that there had been concerns that Bank Negara’s stricter credit origination standards might adversely affect large hire purchase (HP) players like Maybank.

However, despite its relatively sizeable absolute HP portfolio by virtue of the group’s overall size, the HP component as a proportion of Maybank’s overall loans portfolio was relatively small at 17 per cent. Moreover, only a third of its HP portfolio was in the more vulnerable national car segment by value.

Asset quality was expected to remain benign and the firm were pleasantly surprised by
the improvement in its
Indonesian operation’s absolute NPL in 4Q11, which dropped by an impressive 48 per cent quarter on quarter.

OSK Research had built in a higher credit cost assumption of 30bps for FY12 versus the six month FY11 financial period’s 25bps. This was the key to the slower anticipated earnings growth of 9.1 per cent for 1QFY12 vs the more robust pre-provision operating growth estimate of 19.3 per cent for 1QFY12.

The group’s ability to maintain credit cost closer to FY11 levels of 23bps to 25bps might result in 1Q12 earnings growth coming in at a stronger 12.6 per cent vs our estimate of 9.1 per cent.

Malayan Banking Berhad

Address
14th Floor Menara Maybank, 100, Jalan Tun Perak
KUALA LUMPUR, 50050
Malaysia
+60-3-20708833 (Phone)
+60-3-20702611 (Fax)

Website links
http://www.maybank.com/

Officers and directors

Abdul Wahid bin Omar President, Chief Executive Officer, Non-Independent Executive Director

Khairussaleh bin Ramli Group Chief Financial Officer, Deputy President

Zafrul Abd Aziz Head - Investment Banking, Chief Executive Officer - Maybank Investment Bank Bhd

Bapak Rahardja Alimhamzah Acting President Director - PT Bank Internasional Indonesia Tbk

Hans De Cuyper Head - Insurance & Takaful, Chief Executive Officer - Mayban Ageas Holdings Berhad

Muzaffar Hisham Head - Islamic Banking, Chief Executive Officer - Maybank Islamic Berhad

Sio Hoong Sim Chief Executive Officer - Maybank Singapore

Abdul Farid Alias Deputy President, Head - Global Wholesale Banking

Hong Tat Lim Deputy President, Head - Community Financial Services

Hin Hock Lee Group Chief Risk Officer

Malayan Banking Berhad (Maybank) is engaged in the commercial banking and related financial services. The Company’s subsidiaries are principally engaged in the businesses of banking and finance, Islamic banking, investment banking, including stock broking, underwriting of general and life insurance, general and family takaful, trustee and nominee services, asset management and venture capital. Maybank operates in four segments: Community Financial Services (CFS), Global Wholesale Banking (GWB), Insurance, Takaful and Asset Management and International Banking. It has operations in Malaysia, Singapore, Indonesia, Philippines, Papua New Guinea, Brunei Darussalam, People’s Republic of China, Hong Kong SAR, Vietnam, United Kingdom, United States of America and Cambodia and Bahrain. On September 19, 2011, the Company disposed of Integral Key Berhad. In May 2011, the Company acquired Kim Eng Holdings Ltd, is an investment banking group.

What is a Stock Exchange?

2012-02-24T00:37:00.001-08:00

Stock Exchange is an organisation which is responsible to provide the market place or facility for the trading of stocks and shares. In Malaysia, Bursa Malaysia Securities Berhad is the organisation which meets the two basic and complementary needs

A business need for raising funds
An Individual's or compay's desire to invest savings efficiently

The duties of the stock exchange are set out in S.11 of the CMSA 2007 include the following

It shall be the duty of the stock exchange to ensure, so far as may be reasonably practicable, an orderly and fair market for securitities that are traded through its facilities
In performing this duties the stock exchange shall

act in the public interest having particular regard to the need for the protection of investors; and

ensure that where any interests that it is required to serve under any law
relating to corporations conflict with the interest referred to in paragraph (1), the latter shall prevail.

It shall be the duty of the exchange to take appropriate action as may be provided for under its rules for the purpose of monitoring or securing compliance with such rules.

An exchange shall immediately notify the Commission if it becomes aware of–

any matter which adversely affects, or is likely to adversely affect, the ability of any relevant person to meet its obligations in respect of its business of dealing in securities or trading in futures contracts, including the ability ofany relevant person to comply with the minimum financial requirements as may be prescribed under this Act; or

any irregularity, breach of any provision of the securities laws or the rules of the exchange or approved clearing house, or any other matter which, inthe opinion of the exchange, indicates or may indicate, that the financial standing or financial integrity of any relevant person or of the chief executiveor directors of the relevant person is in question or may reasonably be affected.

Without prejudice to subsection above, when an exchange reprimands, fines,suspends, expels or otherwise disciplines any of its relevant person, it shall, within seven days, give to the Commission in writing the following particulars:

(a) the name and address of the business of the relevant person;
(b) the reason for and the nature of the action taken;
(c) the amount of the fine;
(d) the period of suspension, if any; and
(e) any other disciplinary action taken.

An exchange shall at all times have sufficient financial, human and other resources to ensure the provision of–

an orderly and fair market in relation to securities or futures contracts that are traded through its facilities;

adequate and properly equipped premises for the conduct of its business;

competent personnel for the conduct of its business; and

automated systems with adequate capacity, security arrangements and facilities to meet emergencies.

In other words, a stock exchange must be able to provide adequate and properly equipped premises for the conduct of its business; it should also provide competent personnel, security arrangements and facilities to meet emergencies.

What is Stock Market?

2012-02-23T01:28:00.001-08:00

Stock markets is the place where stocks and related securities on all exchange are traded.

Stock market consists of the trading of related securities and stocks on all exchanges including over-the-counter market.

Stock market functions

a central market place to raise equity funds by governments and corporations;
a place for selling and buying securities by company and government
a place to raise money by issuing new securities to individuals or organisations to invest their saving or surplus funds

Stock market also offers investors liquidity. This is called the ability to convert investments into cash at a short notice to encourage the flow of savings for productive ventures.

The stock market in Malaysia is operated by Bursa Malaysia Securities Berhad through their Stock Exchange.

What are Securities?

2012-02-23T01:09:00.001-08:00

Securities are exchangeable or saleable in the market place.

"securities" definition by the Capital Market & Services Act (CMSA 2007) means

debentures, stocks or bonds issued or proposed to be issued by any government;
shares in or debentures of, a body corporate or an unincorporated body; or
unit trusts or prescribed investments,

and includes any right, option or interest in respect thereof, but does not include
futures contracts.

Securities (abbreviation of 'marketable securities') is used to describe any interest-bearing or dividend-paying paper traded in financial market.

In financial market context, securities is a general term being applied to

stocks
shares
debentures
notes
bills
bonds

It is a documents of evidence of ownership or debt.

Shareholding is an evidence of ownership where shares are classified as equity securities while debenture or bond is the evidence of debt while they are sometimes referred to as loan securities.

Water dragon fails to spit fire

2012-01-26T00:57:00.000-08:00

By ADELINE PAUL RAJ
Published btimes.com.my: 2012/01/26

THE water dragon's attempts to spit fire into the stock market were snuffed out early, leaving the market to close the first trading day of the lunar calendar on a negative note.

The benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) started the day with gains of as much as 0.3 per cent before profit-taking on certain banking and oil-and-gas heavyweights reversed the gains.

The index closed at 1,519.76 points, down by 2.9 points or 0.2 per cent from last Friday.

The market was closed on Monday and Tuesday this week for the Lunar New Year holidays.

Some 1.3 billion shares worth about RM1.5 billion changed hands, with volumes almost a fifth lower than previously.

However, market breadth was positive, with 389 gainers against 315 losers, 296 counters unchanged and 473 others not traded.

Analysts and dealers said the poor performance was not unexpected, given that many in the investment community were still away for the festive holdidays.

They anticipate a quiet market for the rest of the week because of that, and continued concerns about Europe's debt crisis.

As at press time, there was a stalemate on Greek debt talks.

In the US, the Federal Open Market Committee starts a two-day meeting today where it is expected to keep its key interest rate unchanged at 0.25 per cent.

It will also kick off a new practice of announcing interest rate projections.

"There could be some local maintenance of the index and index components but in the medium to longer term, the FBM KLCI could face yet another quiet but very challenging year ahead.

"Trade cautiously with a short-term time frame, in view of potentially negative news on Europe and their debt situation. Locally, we expect a quiet market after the Chinese New Year holidays this week though," said Lee Cheng Hooi, head of retail research at Maybank Investment Bank Research.

Markets were still closed yesterday in China, Hong Kong and Taiwan for the holidays.

The only gainer in Southeast Asia was Singapore, which rose by 1.5 per cent to 2,891.64.

Khazanah sees best performance to date

2012-01-25T05:52:00.000-08:00

Published thestar Wednesday January 18, 2012 MYT 5:50:00 PM

KUALA LUMPUR: Khazanah Nasional's profits before taxes jumped 156.3% for its financial year ended Dec 31, 2011 to RM5.3 billion swelled by ongoing divestments in government-linked firms.

Khazanah's managing director Tan Sri Azman Mokhtar said this was the government investment arm's “best performance to date” and added that profits had been swelled by ongoing divestments in Plus Expressways and in POS Malaysia among others.

Khazanah paid RM3 billion in total dividends to the Government last year.

Azman said at a media briefing that some components within Khazanah's portfolio, notably in TNB, had dragged the performance down marginally. He added that this was due to the gas shortage situation.

Celcom to bid for RM2b project

2011-12-12T20:18:00.000-08:00

Cheryl Yvonne Achu
Published: 2011/12/13

CELCOM Axiata Bhd (Celcom) expects to invest some RM500 million if it wins a RM2 billion digital terrestrial television broadcasting (DTTB) project.

Celcom chief executive officer Datuk Seri Shazalli Ramly said it expects the investment to be over three to five years.

Yesterday, Celcom inked a consortium agreement with Broadcast Australia to bid for the much-awaited job.

Shazalli, speaking to reporters after the signing ceremony, said the companies will bid for the design, construction and long-term operation of the project.

Celcom chief strategy and business transformation officer Farid Yunus and Broadcast Australia director of strategy and corporate development Brett Savill signed the agreement yesterday.

The Malaysian Communications and Multimedia Commission is likely to announce the tender soon.

Broadcast Australia, equipped with the technology know-how for the delivery of terrestrial digital TV, will be backed by Celcom's largest network and engineering presence across Malaysia.

Shazalli said both parties will offer a guaranteed rollout of the nation's DTTB, on-budget, on-time and with quality.

"Celcom has been seeking to diversify its business and this partnership is the first step towards achieving that objective," he said.

The collaboration is in line with the Economic Transformation Programme's objective of training and developing local staff through transfer of knowledge, Shazalli added.

"We intend to create a vibrant media industry to support digital TV, which in turn will create more high- income jobs and key skills and competencies that can be exported to other Southeast Asian countries," he said.

The DTTB idea was first mooted in 2005, with a public inquiry conducted the following year.

The project involves the conversion of analogue technology to DTTB for all terrestrial television stations by 2015.

Under the current set-up, TV broadcasters are individually licensed as content application service providers, whereby they install their own equipment at transmission sites.

Many companies are vying for the project. They reportedly include Maxis Bhd, whose technical partner is Astro, KUB Malaysia Bhd in partnership with Germany's Media Broadcast Systems, and YTL Communications Sdn Bhd with US-based Sezmi and American technical consultant Peter Douglas.

Celcom Axiata Berhad
Officers and directors
Dato' Sri Mohammed Shazalli Ramly
CEO and Director
Chee Pok Jin
Chief Marketing Officer
Noor Kamarul Anuar Nuruddin
CTO
Address
Menara Celcom, 82, Jalan Raja Muda Abdul Aziz
Kuala Lumpur, 50300
MYS
+60-3-2688-3939 (Phone)
+60-3-3630-8889 (Fax)
Website links
http://www.celcom.com.my
Celcom trades ringtones for ringgits. The company is the second largest provider of wireless voice and data communications services in Malaysia. It serves about nine million consumer and businesses customers and provides international roaming network access in about 100 countries. Celcom uses partnerships with global communications and technology providers to expand the range of services available to its customers. The company has product and marketing agreements with international mobile provider Vodafone, Google, and Malaysia's top bank Maybank. Celcom is a subsidiary of Malaysia-based mobile telecommunications and consulting holding company Axiata Group.

Why AirAsia is fighting airport tax hike

2011-12-05T03:34:00.000-08:00

By Presenna Nambiar BTIMES

Carbon Offset Surcharge will Impact Air Asia Operation

AIRASIA Bhd could be bent on challenging airport operator Malaysia Airports Holdings Bhd's (MAHB) airport tax hike as a means to combat its own fast-rising charges.

Checks done by Business Times showed that the gap between Malaysia Airlines and AirAsia's long haul arm AirAsia X fares is fast closing in on a few routes.

A check on fares for London in January showed the fare difference between the two airlines was less than RM1,000.

For example, on both MAS and AirAsia X fares (excluding fees and taxes) for a return trip to Paris in January showed that MAS' fare was RM1,841 while AirAsia X's fare was RM2,108 (excluding baggage and meal charges) for return.

The differentiating factor, however, was its fees and taxes. MAS' charges stood at RM1,359 while AirAsia X's charges were RM606.

The increase in fees in AirAsia X are from a RM80 (return) carbon offset surcharge to be implemented in 2012.

It is believed that this charge is connected to the European Union Emissions Trading scheme, which comes into force January 1 2012.

The ruling requires airlines to pay up for carbon emissions, which have not been accounted for, in its air space.

"It could be because of all these charges that are coming up now. I guess they don't want to add on any other charges that don't actually help ease their own costs," an analyst who declined to be named said.

On claims that MAHB was profiteering from passengers, another analyst pointed out that a quick calculation of profit against number of passengers handled would show which company profits more from passengers.

A check showed that according to 2010 profit before tax (PBT) figures, AirAsia makes twice more money from passengers than MAHB.

MAHB made RM445 million in PBT for 2010, while AirAsia earned some RM1.1 billion in PBT.

According to this, AirAsia made RM42 per passenger, while MAHB earned RM15 per passenger. Only half of the 57.8 million passengers handled by MAHB are taken into account as it only collects airport tax one way.

"AirAsia is not being inconsistent to itself. Before it complies it's always visibly shown how unhappy it is. I think at the end of the day however, it will follow the letter of law and pay

AirAsia Berhad
(Public, KUL:AIRASIA)
Find more results for AIRASIA

Officers and directors
Anthony Francis Fernandes
Group Chief Executive Officer, Director
Kamaruddin Bin Meranun
Group Deputy Chief Executive Officer, Director
Tassapon Bijleveld
Chief Executive Officer - Thai AirAsia
Mr. Dharmadi
Chief Executive Officer - Indonesia AirAsia
Bo Lingam
Chief of Operations and Planning
Jasmindar Kaur
Company Secretary
Abdul Aziz Bin Abu Bakar
Non-Executive Chairman of the Board
Mohamed Azman Bin Yahyah
Non-Independent Non-Executive Director
Conor McCarthy
Non-Executive Director
Mohamed Khadar Bin Merican
Independent Non-Executive Director
Address
Lot No. N1 Level 4 Main Terminal Building Kuala Lumpur Intl. Airport
Sepang, 64000
Malaysia
+60-3-86604333 (Phone)
+60-3-87751100 (Fax)
Website links
http://www.airasia.com
AirAsia Berhad (AirAsia) is engaged in the provision of air transportation services. As of December 31, 2010, the Company operated a fleet of 90 aircraft and flies to more than 65 destinations in 18 countries from hubs in Malaysia, Thailand and Indonesia. In 2011, the Company had added Chiang Mai and Medan as new hubs in Thailand and Indonesia, respectively. Its subsidiaries are AA International Ltd, which is an investment holding company; AirAsia Go Holiday Sdn Bhd, which is engaged in tour operating business; AirAsia (Mauritius) Limited, which is engaged in providing aircraft leasing facilities to Thai AirAsia Co. Ltd; Airspace Communications Sdn Bhd, which is a media owner with publishing division; Aras Sejagat Sdn Bhd, which is a special purpose vehicle for financing arrangements required by the Company, and Asia Air Limited, which is engaged in the provision and promotion of AirAsia Berhad’s in-flight food to the European market. up if they have to," Maybank Investment Bank Bhd analyst Mohshin Aziz told Business Times.

M&As to dominate banking sector on rising competition

2011-11-24T15:48:00.000-08:00

The Star Online

Wednesday November 23, 2011

KUALA LUMPUR: Mergers and acquisitions (M&As) will continue to dominate the local banking sector moving forward, as rising competition and additional capital requirement regulations will drive banks to merge and become bigger entities in survive, said Soo Hoo Khoon Yen, partner at PricewaterhouseCoopers (PwC).

“Capital regulations can be a double-edged sword. More capital requirements by the central bank and the authorities mean that this business (of running the bank) is only for people and institutions with deep pockets.

“It can be very difficult to fulfil capital requirements, and at the same time sustain a decent profit,” Soo said.

He said this would be the push factor to cause the smaller players to be acquired by the bigger players in the finance industry, as the smaller players would not be able to cope with the additional capital requirements.

Speaking to reporters after the presentation of PwC’s recent survey yesterday, Soo said the local banking industry could also garner attention from regional banks in their quest to go global.

This fear of being bought over by foreigners, he said, could be mitigated through regulators who could scuttle the deal or by regulators further encouraging a consolidation of the industry to build economies of scale.

“The proposed Australian Securities Exchange’s merger with the Singapore stock exchange was an example of how regulators can cause a deal to be called off. The game play this time is to deal with regulators first before approaching a deal rather than dealing with regulators after the deal has been proposed,” Soo said.

He added that increased economies of scale could elevate the appeal of the banking sector in the face of the trend of growing regionalisation in the banking industry worldwide.

Its survey, “Emerging Opportunities: Financial Services M&AW in Asia 2011,” which was conducted among senior executives with decision-making powers showed that over 80% of respondents in Malaysia predicted higher M&A activities next year and nearly half or 49% were considering an M&A deal at present.

“In general, over 50% of the total respondents expect to be either involved in a deal or (are) considering one over the next 12 months,” PwC said in a statement.

Pact to boost talent in Islamic finance

2011-11-24T15:35:00.000-08:00

The Malaysian Reserve 21 Nov, 2011 Author: Farah Saad

The Global University of Islamic Finance (INCEIF) and the Islamic Corporation for the Development of the Private Sector (ICD) have signed a memorandum of agreement (MoA) for the development of the private sector in the field of Islamic finance.

ICD, the private sector arm of the Islamic Development Bank (IDB) aims to address the shortage of Islamic finance professionals through a capacity building initiative programme, the Islamic Finance Talent Development Programme.

Through the MoA, INCEIF will deliver a postgraduate Islamic finance programme through its Chartered Islamic Finance Professional course to selected participants from ICD’s 46-member countries, said INCEIF in a media release last week.

“ICD will complement the participants’ learning experience through corporate attachments within ICD and the IDB group as well as ICD’s investee companies,” said INCEIF in the release.

The two-year work-andstudy programme is scheduled to commence in the first quarter of 2012.

INCEIF president and chief executive officer (CEO) Daud Vicary Abdullah said, “The ICD is a perfect first to INCEIF as we both share a vision to develop talent for the Islamic finance industry.”

INCEIF is also currently working with partners locally and abroad, including Japan, GCC countries and Europe, providing post graduate programmes and short courses on Islamic finance.

Abdullah signed the MoA on behalf of INCEIF, while ICD was represented by its CEO Kaled Al-Aboodi.

Al-Aboodi said the collaboration would help “build the knowledge in-roads” to the growing interest in Islamic finance mainly in Central Asia, Sub-Saharan Africa, the Middle East and North Africa.

New Oil Discovery To Further Develop Downstream Activities In Sabah

2011-11-16T07:21:00.000-08:00

November 16, 2011 17:37 PM
By Newmond Tibin

KOTA KINABALU, Nov 16 (Bernama) -- The new discovery of oil, 100km off the northwest coast of Kota Kinabalu, by Petronas indicates the possibility of finding more oil fields in the region.

Associate Prof Dr Rosalam Sarbatly, Dean of Engineering and Information Technology, Universiti Malaysia Sabah, believes the discovery would not only strengthen the upstream production but also encourage further development of downstream activities, citing recent ongoing projects such as the Sabah Oil and Gas Terminal, Sabah-Sarawak Gas Pipeline and Ammonia-Urea plant in Sipitang.

"I would like to congratulate all Sabahans for the "gift" from Mother Nature. Following the discovery, the foreseeable lifespan of oil and gas production in the state is significantly enhanced, implying long-term economic benefits," he told Bernama here Wednesday.

Rosalam was commenting on Petronas Carigali Sdn Bhd's "significant oil discovery" offshore Sabah via the Wakid-1 well in Block 2G-2J.

Preliminary estimates put the well's reserves at 227 million barrels of oil equivalent while production tests in three different reservoirs yielded a maximum production rate of 8,200 barrels per day.

He said currently, Sabah had about 11 trillion cubic feet of gas and 1.5 billion barrels of oil in its reserves, contributing approximately 12 per cent and 25 per cent of Malaysia's gas and oil reserves, respectively.

Rosalam said the diversity of downstream activities would greatly enhance the benefits of the discovery, involving various operations such as processing, refining, storage, transportation and distribution.

"It is also expected to create a wide range of job opportunities for the locals. Direct accessibility to energy could also boost the development of local industries.

"All these will provide a continuous thrust to the development of local business and trading on a long-term scale," he added.

In this respect, Rosalam expressed the importance of human capital for optimising the benefits of the discovery.

"Pool of talents with technical knowledge is essential in supporting both upstream and downstream activities. Without them, the oil is only good for exporting.

"As the dean of Engineering and Information Technology, we are committed to give full support in terms of human resource development to the state," he said.

Rosalam said presently, the university is the first in Malaysia to offer a Masters degree in Oil and Gas Engineering.

-- BERNAMA

Petroliam Nasional Berhad
Officers and directors
Tan Sri Dato' Seri Mohamed Hassan bin Marican
Acting Chairman, President, and CEO
George Ratilal
VP Finance
Kamarudin Zakaria
VP, Petrochemical Business
Address
Tower 1, PETRONAS Twin Towers, Kuala Lumpur City Centre
Kuala Lumpur, 50088
MYS
+60-3-2051-5000 (Phone)
+60-3-2026-5050 (Fax)
Website links
http://www.petronas.com.my
Headquartered in the world's tallest buildings (PETRONAS Twin Towers), state-owned Petroliam Nasional Berhad (PETRONAS) towers above other Malaysian companies in revenues. As a holding company for Malaysia's integrated oil and natural gas concerns, PETRONAS' subsidiaries operate in more than 30 countries, primarily in Asia and Africa. The company has reserves of more than 27 billion barrels of oil equivalent (the bulk of which is natural gas). It is a major producer of liquefied petroleum gas (LPG) and liquefied natural gas (LNG). PETRONAS markets operates more than 900 domestic gas stations; it also sells aviation fuels, kerosene, and lubricants. PETRONAS is also a major petrochemical producer.

EPF’s Johari is new RHB Bank managing director

2011-11-12T03:49:00.000-08:00

Written by Chua Sue-Ann
Friday, 11 November 2011 12:09

Johari to drive next stage of the group's commercial banking business in the region.

KUALA LUMPUR: The RHB banking group has appointed Johari Abdul Muid, who was the deputy CEO of the Employees Provident Fund (EPF), RHB Bank Bhd’s new managing director.

In a filing with Bursa Malaysia yesterday, RHB Capital Bhd (RHBCap) said Johari will assume his duties on Monday with Renzo Viegas named as RHB Bank deputy managing director.

Viegas has been RHB Bank’s principal officer prior to his new appointment.

Johari has resigned from his positions as non-independent and non-executive director of RHBCap, RHB Bank and RHB Islamic Bank.

“He (Johari) will drive the next stage of the group’s commercial banking business in Malaysia and the region,” RHB Bank said in a press statement.

Viegas will be responsible for RHB Bank’s retail banking and global financial banking businesses, RHB Bank said.

The 54-year-old Johari has three decades of financial sector experience. He began his career as a money market dealer at Asian International Merchant Bankers Bhd in 1981.

Johari has also spent 11 years at Commercial International Merchant Bankers Bhd until 1994 and nine years at CIMB Securities Sdn Bhd until 2004 before joining the EPF.

During his stint at the EPF, Johari was the chief investment officer (equity) from 2004 to September 2007 before he was made deputy CEO of investment until September 2009.

His last position at the EPF was deputy CEO, a position he held from September 2009

This article appeared in The Edge Financial Daily, November 11, 2011.

RHB Capital Berhad
(Public, KUL:RHBCAP)

Officers and directors
Chee Khiong Kam
Group Chief Financial Officer, Managing Director, Principal Officer, Executive Director
Khairuddin Ahmad
Chairman - RHB Insurance Berhad
Abd Rani Lebai Jaafar
Chief Executive Officer, Managing Director - RHB Islamic Bank Berhad
Abdullah Mat Noh
Chairman - RHB Investment Bank Berhad
Azman Shah Md Yaman
Group Company Secretary
So Ching Chin
Assistant Secretary
Azaharin Abd Latiff
Acting Director - Group Human Resource
Wai Leong Chay
Director - Corporate & Investment Banking
Heng Kong Koh
Head - Insurance
Kheng Boon Lim
Director - Group Transaction Banking
Address
Level 10, Tower One RHB Centre Jalan Tun Razak
Kuala Lumpur, 50400
Malaysia
+60-3-92852233 (Phone)
+60-3-92819314 (Fax)
Website links
http://www.rhb.com.my

RHB Capital Berhad (RHB Capital) is a Malaysia-based investment holding company. Along with its subsidiaries, it operates in seven business units: retail banking, corporate and investment banking, business banking, global financial banking, group treasury, transaction banking and Islamic banking. The Company’s products and services include credit and debit cards, savings and currents accounts, fund transfer, loans, deposits, bancassurance, structured investments, unit trust, share margin financing, cash management, trade services, insurance and remittance services, Shariah-based consumer and business banking services, among others. RHB Capital’s subsidiaries include RHB Bank Berhad, RHB Islamic Bank Berhad, RHB Bank (L) Ltd, RHB International Trust (L) Ltd, RHB Corporate Services Sdn Bhd, RHB Capital Nominees (Tempatan) Sdn Bhd, among others.

SC cautions investors on speculative penny stocks

2011-11-11T18:38:00.000-08:00

Written by Clint Loh
Friday, 11 November 2011 12:17

KUALA LUMPUR: Securities Commission (SC) chairman Tan Sri Zarinah Anwar has warned investors to be cautious over the rising number of penny stocks whose prices have skyrocketed of late without material corporate developments.

“I would like to remind investors that they have to exercise caution and make informed investment decisions. Everybody has a role to play in terms of ensuring fair and orderly trading in the market,” Zarinah commented when asked about the growing speculative interest in penny stocks.

She noted that the SC and Bursa Malaysia have surveillance systems in place and monitor all price movements for all counters listed on the exchange.

“Action will be taken depending on the outcome of our surveillance,” she told reporters on the sidelines of the 5th International Islamic Capital Market Forum yesterday.

Recently, penny stocks, particularly on the ACE Market, have seen heavy trading volume and sharp spikes in share prices. Despite poor financial results, these stocks have garnered strong speculative interest.

Among the counters, notably, is Harvest Court Industries Bhd. In barely four weeks, the stock has jumped 16 times from 8.5 sen to RM1.40 yesterday.

The company saw the emergence of a new shareholder, Datuk Raymond Chan, who bought part of his 13.83% stake from the company’s managing director Ng Swee Kiat. Ng later proposed to Affin Bank Bhd to acquire the bank’s 18.3% equity interest for 25 sen per share.

Other penny stocks that have joined the euphoria include Karambunai Corp Bhd, Envair Holdings Bhd, Focus Dynamics Technologies Bhd, Sanichi Technologies Bhd and GPRO Technologies Bhd.

Bursa has queried some of these counters on unusual market activity (UMA). Most of them have replied by saying the board is not aware of any material corporate developments in the companies. Those queries, however, do not seem to have stopped some of those counters from climbing further.

Asked about the share swap deal between state investment arm Khazanah Nasional Bhd and Tune Air Sdn Bhd of shares in Malaysian Airline System Bhd (MAS) and AirAsia Bhd, Zarinah said the SC is reviewing all the trading data. “We will make a decision upon our review and determination of our findings.”

There is no time frame for the investigation, she added.

Deputy Finance Minister Datuk Dr Awang Adek told the Dewan Rakyat last week that the SC and Bursa have launched an investigation into the swap deal involving MAS and AirAsia shares. He said the probe would also look into the possibility of insider trading and will take time because it involves many accounts and a huge value.

He said if the probe finds evidence of insider trading, the Malaysian Anti-Corruption Commission may also be invited to investigate.

Under the swap deal announced in August, Tune Air and Khazanah, major shareholders of AirAsia and MAS respectively, agreed to swap their shares in the two airlines. After the swap, Tune Air now owns 20.5% equity interest in MAS, while Khazanah holds a 10% stake in the low-cost carrier.

This article appeared in The Edge Financial Daily, November 11, 2011.

Court of Appeal upheld jail sentence on former directors of MEMS Technology

2011-11-09T20:20:00.000-08:00

Kuala Lumpur, 8 November 2011

In a landmark decision for securities cases, the Court of Appeal on Friday upheld a six months jail term imposed by the High Court on two former directors of MEMS Technology Berhad (MEMS), for authorizing the furnishing of a misleading statement to Bursa Malaysia in MEMS's Condensed Consolidated Income Statement for the 12 month period ended 31 July 2007. The two former directors of MEMS, which was delisted in November 2010, were charged in the Sessions Court in Kuala Lumpur in 2009 for the misleading statement which related to the company's reported revenue of RM73.416 million as it contained over RM30 million of sales that did not take place.

Ooi Boon Leong and Tan Yeow Teck had on 25 February 2010 pleaded guilty at the Sessions Court to committing the offence and were fined RM300,000 each upon which the Public Prosecutor appealed to the High Court on the grounds that the sentence was manifestly inadequate.

In enhancing the sentence, the High Court Judge Justice Dato Hj Ghazali bin Cha, in January 2011 imposed an additional six months jail sentence to the fine of RM300,000 which had been imposed by the Sessions Court. The High Court judge had cited public interest as a reason for the enhanced sentence, pointing out that the offence affected the integrity of the capital market. Ooi and Tan had then appealed to the Court of Appeal against the sentence.

The Court of Appeal, presided by Datuk Sulong bin Matjeraie JCA together with Dato' Mohd Hishamudin bin Haji Mohd Yunus JCA and Datuk Clement Allan Skinner JCA, on 4 November 2011, agreed with the decision of the High Court judge to impose a six months jail term as the sentence of a fine was manifestly inadequate and did not adequately reflect the seriousness of the offence. In its unanimous decision, the Court of Appeal emphasized that knowingly furnishing misleading information to the stock exchange is a serious offence because potential investors, both foreign and local rely on such information. The Court of Appeal affirmed that a custodial sentence was necessary in order to ensure that investors would not lose confidence in our market and to deter potential wrongdoers.

Ooi and Tan were represented by their counsel Dato V. Sithambaram. They are now currently serving their jail term.

SECURITIES COMMISSION MALAYSIA

MEMS Technology Bhd.
(Public, KUL:MEMS)

Officers and directors
Kathirgamasundaram Sooriakumar
Chief Executive Officer, Chief Technical Officer, Executive Director
Mei Ling Chew
Company Secretary
Cynthia Gloria Louis
Company Secretary
Suhaimi Bin Badrul Jamil
Independent Non-Executive Chairman
Azlan Bin Abas
Non-Independent Non-Executive Director
Aziuddin Bin Ahmad
Independent Non-Executive Director
Address
Unit 810, Block A, Phileo Damansara II 15 Jalan 16/11
Petaling Jaya, 46350
Malaysia
+60-3-76652282 (Phone)
+60-3-76602520 (Fax)
Website links
http://www.memstech.com/

MEMS Technology Berhad is a Malaysia-based investment holding company. The Company, through its subsidiaries, is involved in manufacturing and packaging, including engineering services of micro electro-mechanical systems (MEMS) products. The Company has two subsidiaries: Sensfab Pte. Ltd., which is a Singapore-based company engaged in the design, development, testing and manufacture of micro electro-mechanical systems based sensor products, and Senzpak (M) Sdn. Bhd., which is a Malaysia-based company engaged in the design, development, testing and assembly, packaging and manufacture of micro electro-mechanical systems.

Abdul Wahid bin Omar		President, Chief Executive Officer, Non-Independent Executive Director
Khairussaleh bin Ramli		Group Chief Financial Officer, Deputy President
Zafrul Abd Aziz		Head - Investment Banking, Chief Executive Officer - Maybank Investment Bank Bhd
Bapak Rahardja Alimhamzah		Acting President Director - PT Bank Internasional Indonesia Tbk
Hans De Cuyper		Head - Insurance & Takaful, Chief Executive Officer - Mayban Ageas Holdings Berhad
Muzaffar Hisham		Head - Islamic Banking, Chief Executive Officer - Maybank Islamic Berhad
Sio Hoong Sim		Chief Executive Officer - Maybank Singapore
Abdul Farid Alias		Deputy President, Head - Global Wholesale Banking
Hong Tat Lim		Deputy President, Head - Community Financial Services
Hin Hock Lee		Group Chief Risk Officer