The Star Online: Business
The Star Online: Business |
- WCT unit wins RM115mil contract
- Plans afoot to turn Bukit Jalil Sports Complex into merchandise centre
- HSBC may cut 10,000 jobs
| WCT unit wins RM115mil contract Posted: 28 Jul 2011 06:21 PM PDT PETALING JAYA: WCT Bhd's wholly owned subsidiary, WCT Construction Sdn Bhd, has been awarded a contract worth RM115.09mil for earthworks services by Vale Malaysia Manufacturing Sdn Bhd in Teluk Rubiah, Perak. The scope of works under project comprises of earthwork, drainage, roads and pavement, slope protection works and temporary sedimentation ponds at VMM's Project - Phase 1A (Stage 1), Teluk Rubiah. In a filing to Bursa Malaysia, it said works were expected to be completed in April 2013, adding that the contract would contribute positively to the group's earnings and net assets for the financial years 2011, 2012 and 2013. Full Feed Generated by Get Full RSS, sponsored by Used Car Search. |
| Plans afoot to turn Bukit Jalil Sports Complex into merchandise centre Posted: 28 Jul 2011 06:19 PM PDT KUALA LUMPUR: The Youth and Sports Ministry plans to transform the Bukit Jalil Sports Complex into a "sports city" where it can become a one-stop centre for sports merchandise. "We have presented this idea to the EPU (Economic Planning Unit)," said Youth and Sports Minister Datuk Seri Ahmad Shabery Cheek. "The Bukit Jalil Sports Complex can be a profitable one-stop sports centre. We intend to use it as a model and if it is successful, we would like to replicate it in other states as well," he said after the launch of the Sports Industry Year 2011/12 here yesterday. The Bukit Jalil Sports Complex includes the National Stadium, Putra Stadium, National Aquatics Centre, National Squash Centre, National Hockey Stadium and is home to both the National Sports Institute and National Sports Council. Ahmad Shabery pointed out that in popular venues such as the Barclays Premier League team Manchester United's home ground of Old Trafford, there were ample outlets to purchase the team's products and memorabilia but this was not the case in local stadiums, such as the National Stadium at Bukit Jalil. "The stadium itself should become a profit centre," he said. On sports as a sector and contributor to the local economy, Ahmad Shabery said the Malaysian sports industry had contributed RM30.2bil to gross domestic product (GDP) in 2009. "However, Malaysia's sports industry has yet to be accepted as one of the nation's National Key Economic Areas. The ministry believes in the importance or potential of sports as an industry. "The ministry has embarked on a number of initiatives to make this a reality and to turn Malaysia's sports industry as a major contributor to Gross National Income. "This, in turn, will help fulfil the Economic Transformation Programme target of a high-income nation by 2020," said Ahmad Shabery. Sports Industry Year 2011/12 is a one-year campaign that runs until July 27. It is aimed at identifying high growth opportunities in the sports industry, targeting expansion and investment as well as establish the sports industry as one of the major contributors towards the Malaysian economy. Full Feed Generated by Get Full RSS, sponsored by Used Car Search. |
| Posted: 28 Jul 2011 06:17 PM PDT HONG KONG: HSBC Plc may cut more than 10,000 jobs as it embarks on a cost-cutting drive, Sky News reported, citing people close to Europe's biggest bank. The bank's plans had not yet been finalised, Sky News added, citing an insider at the bank . A HSBC spokeswoman in Hong Kong declined to comment. HSBC's move would be the latest in a wave of cuts announced by the global financial industry, which has been hit by market volatility and lacklustre profits. Just yesterday, Swiss bank Credit Suisse announced it would cut about 2,000 jobs after a second quarter hit by weak trading activity and the strong Swiss franc. Switzerland's second biggest bank saw net profit fell 52% to 768 million Swiss francs (US$958.9mil), it said on Thursday. Standard Chartered, Lloyds, Goldman Sachs and UBS are among banks that have announced job cuts in recent months, hit by rising costs and weak revenue growth. State Street Corp, one of the world's biggest institutional investors, said earlier this month it would eliminate as many 850 jobs from its technology unit as it tried to curb costs. HSBC has about 330,000 employees worldwide. The Sky report came after it said in May it was looking for sustainable cost savings of US$2.5bil to US$3.5bil in order to reach a cost efficiency ratio target of 48%-52% by 2013. It also said it would be conducting a strategic review of its cards business in the United States, and would limit its retail banking operations to markets where it could achieve profitable scale. It already cut 700 jobs in its UK retail banking arm in June this year out of its staff of 55,000 in the country, one of many banks that have said they will cull jobs to save costs as lenders fight off a limp economic recovery. HSBC shares in Hong Kong were down 1.1% by noon yesterday, in line with the broader market's 1% decline. - Reuters Full Feed Generated by Get Full RSS, sponsored by Used Car Search. |
| You are subscribed to email updates from The Star Online: Business To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
0 ulasan:
Catat Ulasan