The Star Online: Business
The Star Online: Business |
| Posted: 17 Aug 2011 05:57 PM PDT DIGISTAR Corp recovered from a three-month low of 36 on Aug 9 to close at 44 sen, up 2.5 sen yesterday. The mending technical signal suggests more rebound in the short term. If prices can overcome the 50-day simple moving average of 47 sen, a re-test of the recent high of 53.5 sen can be expected. Support is pegged at the 40 sen mark. SHARES of M-Mode tested the lower horizontal line of the relatively strong overhead resistance of 30.5-31.5 sen band on Tuesday before turning range-bound owing mild profit-taking activity. Based on the daily chart, this stock is on the rise, but in volatile style. A break above the 31.5 sen barrier may propel prices to the 41 sen level or to challenge the all-time peak of 48 sen later. Support is resting at 24 sen. PETRA Perdana rebounded from the 59 sen level on Aug 9 to close at 81 sen, up seven sen yesterday. Despite the recent improvement, this stock is not out of the woods yet, and it will remain bearish, as long as the upper 200-day simple moving average of 93 sen is intact. Initial support is seen at 66 sen. The comments above do not represent a recommendation to buy or sell. Full Feed Generated by Get Full RSS, sponsored by Used Car Search. |
| 11 named to oversee KLIFD project Posted: 17 Aug 2011 05:53 PM PDT PETALING JAYA: The RM26bil Kuala Lumpur International Financial District (KLIFD) will be overseen by 11 local and foreign consultants appointed by 1Malaysia Development Bhd (1MBD) to push forth the development of the project. 1MDB said in a statement yesterday that the consulting companies were appointed based on their experience and track record in their fields such as sustainability, infrastructure, engineering, landscape planning and traffic management. In March, 1MDB carried out a pre-qualification and request for proposal process through its subsidiary 1MDB Real Estate Sdn Bhd. Among the selected local companies are traffic management consultant Perunding Trafik Klasik Sdn Bhd, quantity surveyor Perunding NFL Sdn Bhd, landscape architect Akitek Jururancang Malaysian Sdn Bhd and land surveyors Jurukur Perpaduan Sdn Bhd and Jurukur ESA Sdn Bhd. The infrastructure engineering consultants are EDP Consulting Group Sdn Bhd and Buro Happold Consulting Engineers, a UK and US consultant which also acts as KLIFD's sustainability consultant. Others include security and risk engineers ARUP Jururunding Sdn Bhd (from Malaysia) and ARUP Group International, a Hong Kong-based company. A consultant from Qatar, KEO International Consultants, was selected as programme management adviser. The appointments are in addition to the two master planners named recently, Akitek Jururancang Malaysia Sdn Bhd and Machado Silvetti & Associates, selected from an international design competition. 1MDB Real Estate chief operating officer Datuk Azmar Talib said that the appointments were based on global practices and that the committee was "thorough and transparent in the selection process". "Given the scale of the development and its impact on national growth, we seek not just capability and capacity but people who also share our vision for a sustainable and holistic KLIFD and our passion to deliver a Greater Kuala Lumpur," he was quoted. 1MDB owns the 30.35ha on which the KLIFD will be developed. As one of the entry-point projects under the Economic Transformation Programme, the KLIFD aims to attract financial institutions and global companies to complement other financial centres in the region. The entire financial district is slated to be completed in two decades, with its first phase operational by 2016. Azmar has expressed hopes to integrate the development of the KLIFD with the country's mass rapid transit system which is slated to commence operations in the same year. Azmar added that the selection of consultants for Bandar Malaysia, a KLIFD twin development in Sungai Besi will also undergo the same rigorous process. Full Feed Generated by Get Full RSS, sponsored by Used Car Search. |
| Japan has room for carriers, says Fernandes Posted: 17 Aug 2011 05:50 PM PDT PETALING JAYA: AirAsia Bhd boss Tan Sri Tony Fernandes is unperturbed by Jetstar's entry into Japan's domestic market to rival AirAsia Japan as he feels the market is big enough for all players. "No issue, the market is huge but Jetstar has many things to sort out in Asia, so it will be stretched," Fernandes said. The Centre for Asia Pacific Aviation (CAPA) said in a report that low-cost carriers (LCCs) still only operates around 2.7% of the 3,000 weekly international services to and from Japan currently. It said LCC penetration within Japan was low at 9.1% but still higher than 6.8% for intra North Asia, which includes South Korea, Hong Kong, Macau and Taiwan. "The new LCCs will only enter progressively but just the knowledge that they are on the way will dramatically shift the very cautious mindset that has kept Japan's aviation system the most expensive and under-exploited in the world," it said, adding that the "sky is the limit for growth upsides." Jetstar on Tuesday announced plans to set up Jetstar Japan with partners Japan Airlines Corp and Mitsubishi Corp. Jetstar Japan will fly from Narita airport, the same terminal as AirAsia Japan, with the latter starting operations in August and the former in December 2012. Jetstar group chief executive officer Bruce Buchanan remains bullish about the prospects and said earlier that the carrier did not see any problems in filling its 24 aircraft as Japan was an underserved market. Jetstar's announcement comes hot on the heels of AirAsia's partnership in July with Japan's largest carrier, All Nippon Airways (ANA). The pact is split 49% for AirAsia in terms of revenue and 33% in terms of voting rights. Separately, ANA has another LCC, Peach Aviation, which will compete head on with Jetstar Japan and AirAsia Japan. Peach takes off in March from Kansai airport. "The propensity to travel among the Japanese is high compared with many other countries even though the rising affluence in countries like India and China has swelled on a scale never seen before. That also explains why Asia is the next growth area and why airlines are trying to establish bases beyond their own markets," said an analyst. Though the market may be ripe for the taking, analysts believe that most Japanese have not fully warmed up to the idea of LCCs, despite Skymark Airlines the first airline to offer lower prices in the late 1990s and eight other LCCs flying to Japan. AirAsia X CEO Azran Osman-Rani has a contrarian view. He said that before the recent earthquake in Japan, AirAsia X enjoyed passenger load factors of over 80% for its KL-Tokyo flight. During the earthquake, demand did plummet but the recovery afterwards has been strong and, in August, loads have reached 86%. "A lot more people are Internet-savvy and more than happy to buy tickets online. There is a mix of consumers that still preferred packages and those who want to just purchase air tickets. The landscape is definitely changing," Azran said. With three players emerging next year and the potential of a fourth coming, will the market get crowded and challenging despite bullish growth prospects? "No challenge, it is such a great market and growth will come from the 126 million Japanese who found it too expensive to fly. The market is five times bigger than Malaysia," Fernandes said, asking whether "Jetstar had in seven years in Asia slowed AirAsia down?" Operating in Japan could also be challenging, said a Maybank IB Research analyst. He pointed out that airport charges were among the highest in Asia and the airports were not so LCC friendly and that made it tough for LCCs that needed quick turnaround time. Fernandes does not see this as a problem. "It (Narita International) is building a low-cost carrier terminal (LCCT) for us as the market is massive." Both AirAsia Japan and Jetstar Japan have plans to fly to cities in North Asia from Japan but that will come later. Separately, Fernandes twittered that AirAsia would soon announce a route to Manila and two new destinations in China. He said the airline needed more aircraft each year and he was meeting up with Airbus officials today. "We need to lease more or buy classic A320s ... we are hoping to get LCCT in Penang or northern region and Langkawi." Full Feed Generated by Get Full RSS, sponsored by Used Car Search. |
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