Monday, November 19, 2012

20121119 1115 Malaysia Corporate Related News.

Unisem back on radar screen
Unisem 2.0, which was launched in end-2011 by Unisem (M), was relevant for the supplier of components to technology-related sectors in its efforts to revamp its business. The company has embarked on initiatives to take on new challenges and discard the "old" ways of doing things. Unisem returned to the black in its third quarter and has since been on the radar screens of some investors. (StarBiz)

GDP growth at 5.2% in Q3
Malaysia's gross domestic product (GDP) for the third quarter ended 30 Sep expanded 5.2% y-o-y, supported by domestic demand and investment activities. Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said at a briefing to announce the GDP data that growth in the quarter was supported by domestic demand, especially in the favourable performance of private and public sector consumption and investment activities. (StarBizWeek)

More high-impact projects unveiled
A total of RM26.1bn in investments will be flowing in for 20 projects under seven National Key Economic Areas (NKEAs) as well as three economic corridors. This will create 64,282 jobs and contribute RM10.1bn of gross national income (GNI) by 2020. Prime Minister Datuk Seri Najib Tun Razak said at a progress update of the Economic Transformation Programme that the country was on track to hit the 2020 development targets. (StarBizWeek)

Obama calls for more Myanmar reform on Asian tour
President Barack Obama flexed US power in Asia yesterday on a regional tour that will make history when he lands in Myanmar, calling on its leaders to step up their startling political reform drive. Obama today will become the first sitting US president to visit formerly-isolated Myanmar. He will praise President Thein Sein for ending a dark era of junta rule, but also prod him to go much further towards genuine democracy. (Financial Daily)

Pantech on track for solid earnings
Strong demand from industrial oil and gas sectors will spell a solid showing for Pantech Group Holdings in its current financial year. There is still strong demand for the company's products despite the current global economic uncertainties, said Pantech executive director Adrian Tan. Coupled with continued capital expenditure in the oil and gas sector, Pantech expects to post credible top and bottom lines in its fiscal year ending 28 Feb 2013, he said. (BT)

Maxis believes in untapped potential of SME segment
Maxis believes there is good growth potential in offering end-to-end business solutions to the small and medium enterprises (SME) market as the segment is still fairly untapped. Head of business services, Fitri Abdullah believes that competition among businesses is increasing everyday and they need to be an adopter of technologies or IT solutions to compete better in the market space. (BT)

Petronas in modified bid for Progress
Petroliam Nasional (Petronas) is said to have submitted a fresh and modified bid for the CND5.2bn (RM15.9bn) takeover of Calgary-based Progress Energy Resources that was blocked by the Canadian government, well ahead of the Tuesday deadline to respond to queries from authorities. A Petronas official told The Malaysian Reserve that the company has no comment yet on the deal, but Reuters reports said Petronas' chief negotiator has just returned to Kuala Lumpur after submitting the revised bid. (Malaysian Reserve)

Perisai appoints manager for its jack-up rig
Perisai Petroleum Teknologi has appointed KCA Deutag as the drilling operations and maintenance contractor on its newbuild Pacific class jack-up drilling. The rig is expected to be delivered by Jul 2014 to Perisai's wholly-owned unit, Perisai Drilling. The deal to maintain and operate the rig was signed with Global Tender Barges Drilling, a company within the KCA Deutag group, Perisai said in a filing last Friday. (Malaysian Reserve)

Xinquan's net profit up 7.7% in 1Q
Xinquan International Sports Holdings net profit increased 7.7% to RM36.8m in its first-quarter ended 30 Sep 2012, from the RM34.2m recorded in the same period last year. In an exchange filing yesterday, the outdoor casual wear company said the increase was mainly due to the increased brand value and positioning of the Gertop brand of products. (Malaysian Reserve)

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