FKLI weekly chart still maintaining its uptrend sentiment. At closed of the week, price still trading at above Bollinger band and within the narrowing uptrend channel = market still remained biased to the upside. However, Bollinger band width narrowing and MACD Histrogram continue to dive lower = a correction would be likely to happen in the near term. Expecting a side way range bound market. Immediate support rest at the plotted lower trendline followed by the middle Bollinger band.
FCPO closed unchanged at 2482 after opened gap up followed by traders profit taking activities to close position ahead of the long weekend forming a black bar candle. Chart wise, Bollinger band reading still favour a upside bias movement market and on the other hand MACD Histrogram recorded a lower reading due to seller profit taking activites. Market tested today's high and also resistant level of 2521 and closed lower could hints that the market may need to take some rest(side day or downward correction) to gather enough strength before marching higher. Immediate support stands at 2420~2430 and resistant rest at 2521~2525.
When to buy : buy at support or weakness with quick cut loss and profit target or buy on break up with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
Wow! Today's doji bar candle marked the 8th correction bar to closed 3 points lower at 1265.5 with last minutes selldown. Chart wise, price penetrated below the middle Bollinger band = market sentiment has turned negative. Bollinger band width continue to squeeze narrower = the negative sentiment has yet to turn severe with possible side way range bound. MACD Histrogram continue to fall = sellers refused to leave the market and have started building their colony. Immediate support stands at 1257~1254 level and resistant rest at the middle Bollinger band level.
When to buy (Dec09 Contract) : buy at support or weakness with quick cut loss and profit target.
When to sell (Dec09 Contract) : sell at resistant/strength/break down with larger cut loss and profit target.
A very slow 5 points range trading market on FKLI that end the morning session up 2 points at 1270.5. Bollinger band flat small band width with price bar up and down suggesting a side way range bound market. MACD Histrogram also act indecisively in the whole morning by turning up and down show no hint of direction. The spotted descending triangle break out could ignite some reason for market to go upward biased but it could also stay side way range bound. Expecting a boring market ahead.
Crude palm oil futures closed up 11 points at 2493 after market opened gap up, tested the high at 2521 followed by profit taking activities to pushed price down to closed at the low of the first session. Price stay near above the middle Bollinger band with the band width turning inwards = the upward movement market are likely to trade side way range bound in the near term. MACD Histrogram slipping lower into the negative zone = profit taking activities took place with low buying interest present. The immediate support stand at the plotted upward trend line followed bt the 2475 level.
The CIMB Group will dispose part of CIMB Bank's NPL to a special-purpose company, Southeast Asia Special Asset Management (Seasam). The group will dispose of mostly legacy NPLs from CIMB Bank, comprising about 45,000 accounts with gross loan amount of RM8.4bn and net book value of RM928m to Seasam. Seasam will be wholly owned by the CIMB group and CIMB-bank is expected to de-consolidate these assets. This should see CIMB Bank's gross NPL ratio drop to 2.8% and the net NPL to 1.3%. Loan loss coverage will improve to 116.1% from 91.8% with no change to the group's consolidated ratio. (Starbiz)
The Selangor state government has not agreed to compensate Puncak Niaga Holdings the RM339m that has been included by the latter in its quarterly results. Menteri Besar Tan Sri Khalid Ibrahim said while it had not consented to Puncak’s subsidiary Syarikat Bekalan Air Selangor Sdn Bhd’s (Syabas) increase in water tariff, it had not considered compensating the company.
- “The state government would like to stress that although these terms are included in the concession agreement between the state and Syabas, the terms are applicable only when the state gives its consent,” he said. Khalid said in board meetings, Kumpulan Darul Ehsan Bhd (KDEB), the Selangor state government’s investment arm, had always stated that Syabas must get approval from the state to arrive at an agreed tariff. He added that as there was no such “agreed tariff”, the question of compensation did not arise.
- However, yesterday Khalid said by including the compensation in its 3Q09 results, Puncak did not comply with the arrangement with the state. He said therefore, it appeared that Puncak had overstated” its profits and urged the company to take responsibility to its shareholders with regard to the state’s view.
- Khalid said the state was in the midst of negotiating with the federal government and the state’s water concessionaires and hoped to come up with a solution that would give the people of Selangor, Kuala Lumpur and Putrajaya “the best value for money”. (The Edge)
The benchmark February CPO contract hit an intra-day high of RM2,516 per tonne – the highest since Aug 13 – before closing RM4 higher at RM2,482 per tonne from Tuesday’s close of RM2,478 per tonne yesterday.
- A CPO futures trader told StarBiz that CPO prices would continue to gain momentum on positive factors such as the current abnormal heavy rainfall that would affect production in the coming months and encouraging exports for November. “CPO is still the world’s most tradeable edible oil with continued strong demand in India, China and the United States mainly for food-related industries,” the trader added.
- Both independent cargo surveyors Intertex and Societe Generale de Surveillance (SGS) yesterday reported higher CPO exports for Nov 1-25. Intertek said Malaysia’s palm oil exports rose 1.2% to 1.13 m tonnes while SGS reported 1.18m tonnes, up 6.4% from October. (Starbiz)
Consumers in Malaysia pay some of the highest prices for broadband in the region, one major reason being the monopoly which Telekom Malaysia holds on submarine cable landing rights, said Ryaz Patel, Intel Electronics country manager for Malaysia and Brunei.
- He said Singapore users pay nearly US$85 or US$10.20 mbps. For 4mbps in Malaysia, consumers pay US$76 or US$35 mbps. Vietnam's 3mbps bandwidth - although a tad slower - costs users US$50.55, or US$16.85 mbps. There is no shortage of gateway service providers seeking landing rights because of the pent-up demand for quality bandwidth, but the government must deregulate or liberalise gateways in order to improve competitiveness by providing larger broadband at lower costs, said Patel.
- Malaysia Australia Business Council vice-chairman Michael Halpin said large technical documents from Australia had difficulty getting sent over because of the poor quality broadband. 'Australian and American investors see this as a nuisance and an impediment to them to do business successfully here,' he said. (SBT)
136 companies have shown interest to participate in Syarikat Prasarana Negara Bhd’s open tender bidding for the RM7bn extension of its two LRT lines project in the Klang Valley, says Group MD Datuk Idrose Mohamed. The contractors had collected prequalification forms from Prasarana to be submitted in a month’s time for assessment and shortlisting of candidates to bid for the project.
- Prasarana would also assess the feedback from the three-month public display for the proposed LRT line extension ending Dec 14, said Idrose.“If everything goes well, the construction of the LRT extensions will start in 1Q10,” he said. When completed in three years, the LRT extension is expected to double the current daily passenger volume of 170,000 for Ampang LRT and 180,000 for Kelana Jaya LRT. (Starbiz)
The auction of 3G spectrum in India, is likely to be deferred by a few weeks, as the Department of Telecom (DoT) of India, and the defence ministry will require more time to coordinate and assign the airwaves vacated by the armed forces. While the armed forces have agreed to vacate 25 MHz of 3G spectrum for the auctions by December 7, officials in the know said it could take ‘several weeks’ for both ministries to work out the specific frequencies or sub-bands of these airwaves, which can be assigned to telcos.
- This could push the auction process to mid-February ‘10, an official with direct knowledge of the developments said, while adding: “The focus is to ensure that the auctions are held before the end of this fiscal. The DoT will meet the finance ministry’s target and ensure that the proceeds from the sale of airwaves are included in the government receipts for this year.” (Economic Times of India)
India will introduce MNP on Dec 31, a move that could further intensify the stiff competition and push call charges lower. Mobile Number Portability (MNP), which allows users to retain their number even if they switch operators, will be introduced in two phases, the telecoms regulator said, first in the metro cities and the so-called Category A telecom zones and in other areas by March 20.
- The regulator also notified certain charges associated with MNP and said switching charges for users must not exceed Rs 19. However, operators are free to levy any amount less than or equal to this charge. (Economic Times of India)
Malaysia Airports (MAHB) said it will continue to depend on increasing revenue from its commercial activities, although overall passenger movements have grown. MD Tan Sri Bashir Ahmad said the group is relying on its Retail Optimisation Programme (ROP) to ensure that its overall revenue growth is sustained. Efforts on ROP so far has contributed double-digit growth increase in its commercial revenue, comprising of rental, advertising, retail, food and beverage activities. (BT)
Malaysia Airlines (MAS) will launch 2x new weekly non-stop flights from Kuala Lumpur to Brisbane from March 28 2010. The flights, on Fridays and Sundays, will complement its current five times weekly flights from Kuala Lumpur to Brisbane via Sydney. (BT)
MMC Corp said an initial pact with Dubai World to develop a major industrial project in south Johor has been terminated. The proposed plan, announced in Sep-07, was to have comprised oil terminal activities, drydocks, a shipyard, conventional cargo handling facilities, logistic parks and real property development on MMC's 913ha at Tanjung Bin, Johor. MMC gave no reason for the termination. However, it had said on August 18 that Dubai World was reassessing its priorities because of the global financial crisis. Dubai World, set up by the Dubai government, is a holding company for a specific portfolio of investments. (BT)
The Naza group, through Naza Kia Sdn Bhd, will launch four Kia models next year as it seeks to double sales volume to 26,000 units, its chief said. Two of the models will be replacements of the Sportage and Sorento multi-purpose vehicles, Naza group joint executive chairman SM Nasarudin SM Nasimuddin said. The other two will be the all-new Kia Soul and a Forte coupe model. Nasarudin added that the Forte, locally assembled at Naza's manufacturing plant in Gurun, Kedah, could be exported to Brunei, Thailand and Indonesia. (BT)
Mercedes-Benz Malaysia Sdn Bhd expects the improving market landscape and launch of new car models to drive sales of its passenger cars to over 4,000 units next year. President and chief executive officer Peter Honegg said next year’s passenger car market was projected by the Malaysian Automotive Association to be better than this year. He said the company sold 4,200 passenger cars last year and planned to sell between 200 and 300 units more than its initial target of 3,600 units this year.
- Honegg said Mercedes-Benz currently held about 43% in the luxury car segment and it aimed to improve its position “a little” next year. “There are more competitors coming in but we try to maintain the leading position in this segment,” he said. (Starbiz)
Penang Port has invested RM1.1bn over the last 5 years to upgrade infrastructure at the port and container terminal as part of initiatives to pump-prime the state economy, says Penang Chief Minister Lim Guan Eng. To realise Penang Port's mission to provide worldclass shipping services, Lim said the port's latest and efficient logistics would be the yardstick to increase the number of merchant ships and containers anchoring at the port.
- Lim also called on the Federal Government to re-start the RM353m project to deepen the North Channel at Penang Port to facilitate smooth sailing-in of container vessels. " If the deepening work is not done in compliance with environmental requirements, it will harm plans to turn Penang into a green state," he said. He also hoped projects promised for Penang under the current Ninth Malaysia Plan but have not been implemented due to various reasons would be carried forward to the 10th Malaysia Plan. (Bernama)
Federation of Malaysian Manufacturers (FMM) Johor Branch argued against consolidation of the containers handling functions between PTP and Pasir Gudang ports, citing potential disruption of manufacturing operations, substantial increase in logistical costs, inadequate readiness at PTP and concerns on cargo security. Shippers operating out of Johor have strongly opposed the proposed port rationalisation exercise involving Johor Port in Pasir Gudang and Port of Tanjung Pelepas (PTP) in Johor.
- Under the rationalisation exercise, all container operations would be moved to PTP while Johor Port would handle all other cargo such as bulk and liquid shipments from Jan-10. It also estimates that the haulage costs are expected to double after taking into account the higher port charges at PTP. “The sudden introduction of the weighbridge charges of RM7.50 per container at PTP is unjust.
- It was never implemented prior to the rationalisation,” it added. FMM Johor Branch also said PTP was not ready for such a move because there are only two main line operators operating in PTP notably Maersk and Evergreen. (BT)
Bonia Corp plans to set up a factory in Guangzhou, China, in the next 1-2 years, says Group finance director Chong Chin Look. Malaysia now contributes 70% to the company's earnings. The rest are from Indonesia, Singapore, Vietnam, Thailand, Syria and Dubai. Bonia has identified a few sites in Guangzhou and is finalising land matters with the local authorities. "Looking at our turnover of more than RM300m, we need more capacity to cater to the growing demand for our products," he said.
- The proposed Chinese plant would be its second wholly-owned asset. It has one in Malacca, set up in 1990, which is producing 200,000 Bonia leather bags annually. Bonia currently has a plant in Guangzhou, but on lease, operating since Nov-08. It makes 100,000 pieces of bags and wallets annually, but would double in a few years in tandem with demand, Chong said.
- Bonia ED Alex Chiang said the company has also identified South Africa and Sweden as new markets to grow its business. "We have entered into formal agreements with local distributors there. We aim to set up our own outlets but it would be a long-term strategy," Chiang said. He sadi Bonia will open 10 new counters and outlets over the next 12 months. We have capital expenditure of RM10m for this and also to upgrade a few of our existing outlets," Chiang said. (BT)
Dijaya Corp is buying the land in Jalan Ampang on which the historical Bok House used to sit for RM123m cash. The price translates into about RM2,200/sf, which is slightly below the RM2,588/sf that Sunrise paid last year for the land where Wisma Angkasa Raya is located. The price also means that the property market in the Kuala Lumpur City Centre (KLCC) area is still firm. (BT)
Kelington Group, an ultra high purity (UHP) gas and chemical delivery systems provider, has been awarded a job worth RM5m in a wafer fabrication facility in Dalian, China. The group, via its subsidiary Kelington Engineering (Shanghai) Co Ltd, will be responsible to design, install, test and commission the UHP water and chemical delivery system. The facility is expected to be completed by 1Q10. (BT)
Frontken Corp hopes to raise up to RM31.8m through a rights issue. It plans to issue up to 288.9m new Frontken shares together with 288.9m warrants, on the basis of two rights share with two warrants, for every five existing Frontken shares. Proceeds raised will mainly be used to reduce borrowings, as well as for future expansion plans. (BT)
Golden Frontier is spending over RM20m to expand its operations in Penang and Vietnam for the rest of this year and the 1H10. Executive chairman Datuk Khor Teng How said that the market demand for corrugated packaging materials in Vietnam and Malaysia, estimated to be about RM2.5bn in 2009, was expected to grow by 10% in 2010.
- “The driver for growth would come from food and beverage products, electronic and electrical goods, and wood-based furniture,” he said. The expansion exercise would increase the group’s yearly ouput to 120,000 tonnes next year from 90,000 presently, he added. (Starbiz)
Crude palm oil futures traded mostly higher today after tested the a new high at 2518 followed by some late profit taking activities pushed the price down to closed up only 4 points at 2482. Today's doji bar candle ended near the upper Bollinger band with the band width continue to expand = further upward movement still insight. However, MACD Histrogram turned slightly lower = profit taking activities could take place anytime to close position ahead of a long weekend. Immediate resistant rest at the 2525 level and support at 2450 level.
When to buy : buy at support or weakness with quick cut loss and profit target or buy on break up with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
A tight 4 points range trading on FKLI ended the day up 1 point to closed at 1268.5 with high rollover volume changed hand. Today 7th correction candle still remained slightly above the middle Bollinger band with the band width continue to turned inwards = market still in side way range bound correction phase. MACD Histrogram dropped lower by a small fraction = no significant seller action in the market. Immediate support stands at the middle Bollinger band and follow by the 1262 level.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant/strength/break down with quick cut loss and profit target.
The Dow closed marginally lower at 10433.71 down 17.24 with lower volume traded. Daily chart wise, Bollinger band reading still suggesting an upside biased movement market but however MACD Histrogram taking an opposite call by turned lower telling us that selling mood remained strong. With these mixture signals and for the sake of risk management, it would be better to only do intraday trading with quick cut loss and profit target.
A narrow range trading rollover day for FKLI that closed the first session up 3 points at 1270.5 with high volume traded. At last looked market opened the second session higher above the middle Bollinger band with the band width stay nearly unchanged = market could possibly trade higher but with limited upside or stay side way. MACD Histrogram edged higher = buyers activities outnumber sellers. Immediate support at 1264.5 and resistant at 1274. Patience game ahead.
Crude palm oil traded firmer with high volume, up 15 points higher at 2493 in response to steady export figure released that up 1.2% to 1,131,258 tonnes by export cargo surveyor ITS. Hourly chart wise, price tested the physiological level of 2500 and continue to stayed above the middle Bollinger band with the band width narrowing = market upward movement could stay side way range bound for a small while. MACD Histrogram stayed flatted = buyer is still trying to take control of the market. Overall market still favour an upward movment with temporary side way consolidation with immediate support at the middle Bollinger band and resistant at 2520~2525 level.
The Federal Land Development Authority (Felda) is set to sell electricity to Tenaga Nasional (TNB) by end-2011 when Felda's biomass-powered energy plant at its land scheme in Jengka, Pahang, will be ready. Felda Holdings general manager and head of biomass division of corporate planning and biomass, Ahmad Nor Azman Jamin, said the plant's connectivity to the national power grid will be its first initiative to support the government's Small and Renewable Energy Programme (SREP). "The plant will generate 10 megawatts (MW) of power and we will sell it to TNB at 21 sen per kilowatt hour," he said. Ahmad said the biomass plant in Jengka will use 300,000 tonnes of empty fresh fruit bunches or oil palm waste (biomass) derived from its seven mills. It will also be modelled after the group's existing biomass plant in Sahabat. (BT)
The Sabah state’s electricity shortage has become even more acute, with power tripping unexpectedly at several stations. Sabah Electricity Sdn Bhd (SESB) said the tripping had forced power generation to drop by about 79MW. SESB’s corporate communications manager Chendramata Sinteh said load-shedding had to be implemented as they could not meet the peak demand of 730MW. (The Star)
Syarikat Prasarana Negara (SPNB) is evaluating 136 contractors, under a prequalification exercise, for the proposed extension of the Kelana Jaya and Ampang Light Rail Transit (LRT) lines which are estimated to cost RM7bn. "We have given them a month to fulfil the requirements. We have to pre-qualify them to determine if they can undertake the job," said its group managing director Datuk Idrose Mohamed. He said it was up to the contractors concerned to bid for the project via joint ventures or on their own. "Following the pre-qualification exercise, we will call for the actual tenders by early next year," he said.
- "There are lots of processes involved in the extension of the LRT lines. We have to do a final design and submit for approval to the local authorities. "Once everything is completed, we will start the actual construction which is targeted for early next year," he said. He also disclosed that the project will be completed in three years.
- Meanwhile, Idrose said Prasarana will be introducing a longer, four-car train for the Kelana Jaya LRT line, a key metro system in KL. He said the first batch of the four-car train, which is currently undergoing testing, will be operational by year-end, and a total of 35 trains will be delivered in one and a half years, with four being delivered quarterly. (Bernama)
The Islamic Financial Services Board (IFSB), in collaboration with the Islamic Development Bank (IDB), hopes to put in place a liquidity management framework by next year, Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz said. As part of global efforts to enhance the efficiency of Islamic financial institutions in managing liquidity at the national level as well as across borders, a management task force has been set up to look into the matter, she said. (BT)
Melewar Industrial Group (MIG) hopes to secure as much as 20% of the estimated RM20bn water pipe replacement contracts on offer nationwide. Executive chairman Tunku Datuk Ya'acob Tunku Abdullah said the pipe replacement contracts are likely to be offered next year by the newly established Pengurusan Aset Air (PAAB). "With the formation of PAAB, I believe there is a strong possibility that the company will actually start renewing (the country's) water pipes next year," he said.
- Tunku Ya'acob also said that MIG's associate Mycron, which produces high quality cold rolled coil (CRC) for national carmaker Proton Holdings, is also in talks to supply the high quality CRC to Perusahaan Otomobil Kedua Sdn Bhd. CRC in the automotive sector contributes about 5% to Mycron's bottomline," said Tunku Ya'acob. (BT)
Perodua says its new multi-purpose vehicle, known as the Alza, could help triple sales of the overall MPVs in Malaysia. Perodua outgoing MD Datuk Syed Abdull Hafiz Syed Abu Bakar said MPVs now account for about 10% of the total industry volume (TIV). A consumer study done by Perodua prior to the Alza introduction indicated that there was potential for the MPV segment to make up 30% of the TIV, Syed Abdull Hafiz said. This indirectly means that the Alza will soon control about two thirds of the segment now dominated by Proton Exora, Toyota Avanza and Nissan Grand Livina. Syed Abdull Hafiz expects the Alza to rake in monthly sales of 4,000 units next year. Since bookings were opened on November 13, Perodua received orders for about 3,500 units of the 1.5-litre MPV. (BT)
Edaran Otomobil Nasional's (EON) subsidiary Euromobil, the distributor of Audi vehicles in Malaysia, has awarded RM5.1m worth of construction works to Comtrac Builders, a 70% unit of DRB-HICOM. The construction works are for the Audi hangar at Glenmarie, Shah Alam, and three other branches located in Kuala Lumpur, Juru in Penang and Johor Baru. Construction work for the Kuala Lumpur branch is expected to be completed by next month, while the Audi hangar, Juru and Johor Baru branches have been completed. (BT)
AirAsia X has started flying five times a week from Kuala Lumpur to Abu Dhabi, expanding its network into the Middle East. Abu Dhabi has the potential to become a hub for the carrier to expand its network into the Middle East. "I take it (Abu Dhabi ) as a priority market. We are now focusing on adding more capacity and working on the service's efficency. We will focus on Abu Dhabi first, before expanding our network further into this region," CEO Azran Osman-Rani said. (BT)
Tune Talk is in talks with two of its three Singaporean counterparts for a potential international roaming partnership. The talks, if they go well, will allow Tune Talk to offer customers significantly lower international direct dialling rates. "Roaming is a big business. Things that were discussed include technical issues as well as call flows," said CEO Jason Lo. The company, which launched its service in mid-Aug, currently has more than 200,000 subscribers. By year-end, it is confident to hit the 300,000 mark. (BT)
Kurnia Asia, the country's largest general insurer, said its overseas operations in Indonesia and Thailand will contribute 20-25% to the group's top line in the next three to five years. "We expect the overseas units to grow at strong double digits in the medium term," Kurnia Asia director of corporate planning and investor relations, James Tee said. To meet its goals, plans include expanding the group's distribution channels via bank tieups as well as beefing up its agency force.
- Overseas business now contributes 10%, or RM85m, to the group's gross premium income of RM1.05bn for FY6/09.
- Kurnia Asia acquired PT Kurnia Insurance Indonesia in 2007 and a 25% stake in Kurnia Insuran-ce (Thailand) Co Ltd in Dec 08. The group has invested about RM43m in both the foreign units (RM17m in Thailand and RM26m in Indonesia). Looi said there is no immediate plan to raise capital for both units. (BT)
The Federation of Malaysian Manufacturers (FMM) Johor branch is opposing a proposed port consolidation plan involving MMC Corp’s wholly-owned Johor Port and 70%-owned Port of Tanjung Pelepas (PTP). The plan would see Johor Port being dedicated to handling on bulk cargo while PTP would serve as a dedicated container port from 1 Jan 2010. FFM Johor said it had expressed “grave reservations” on the proposed move as it would cause serious repercussions and disruptions in the operations of manufacturers in the industrial estates (Financial Daily)
MMC Corp said that some foundation works for its multi-billion dollar JV project, Jazan Economic City, in Saudi Arabia has been completed. MMC believes that the tenders for the proposed refinery, aluminium smelter, water desalination and sewage treatment plants will be awarded over the next few months pending some adjustments involving possible equity involvement of Saudi companies or interests in some of the projects. (Malaysian Reserve)
British American Tobacco (Malaysia) plans to dispose of a parcel of industrial land in Sabah, which has been unoccupied since early this year, for RM1.9m to an individual. The disposal of the 0.806ha-acre land includes a single-storey leaf store with an attached double-storey office, one single-storey tobacco store and one single agriculture inputs (fertiliser) store. Proceeds from the disposal will be used for working capital. (BT)
AKN Technology, a provider of manufacturing and advanced technology products and services to the semiconductor industry, hopes its financial position will strengthen by 2HFY6/10. CEO Zakaria Merican said the group would now focus on its recovery plan. Zakaria also said the group had proposed to be involved in the manufacturing and trading of gloves and rubber products via the proposed acquisition of Nobel Gloves Sdn Bhd but the application was rejected by the Securities Commission, which among others, required the group to address the Regularisation Plan. (Bernama)
Rail would be a good option to help Malaysia increase public transport usage among its population from less than 16% to 25% by 2012, says Scomi Engineering SVP Mike Dickinson. Aware that rail investments need massive capital outlay, he said the government can ease such financial burden and associated risks by teaming up with companies under the public-private partnership or 3P. (BT)
QL Resources says it may be ready to build the first commercial scale biomass power plant on new technology it developed in the next FYE3/11. "We are going to build at least one plant. This will be the first of its kind. Nobody has done it on a commercial scale before," MD Chia Song Kun said. (BT)
New mobile operator XOX Com Sdn Bhd (XOX Com) is confident of reaching 1m subscribers by end-2010 from the 100,000 currently, said president, Ng Kok Heng. He also said that the introduction of postpaid and mobile internet services in two months will further support XOX Com's efforts to achieve the subscriber target. Ng said XOX Com is also planning to increase its dealer network to 10,000 nationwide by mid-2010 from the 7,500 currently to support the growing subscriber base. (Bernama)
