The Star Online: Business
The Star Online: Business |
- US firms: M’sia creates more competitive environment
- Ahmad Jauhari new MAS MD
- EU urges fiscal, aid reforms to save resources
| US firms: M’sia creates more competitive environment Posted: 14 Sep 2011 04:45 PM PDT PETALING JAYA: US corporations in Malaysia have expressed their satisfaction that the country is creating more competitive business environment, according to the American Malaysian Chamber of Commerce's (Amcham) Asean Business Outlook Survey 2011. The country's highly competitive labour cost, availability of raw materials and ease of moving products across borders scored top marks among senior executives polled from US companies operating here. Accordingly, some 70% of the respondents expected a profit increase this year and 80% forecast an even more bullish outlook next year. A total 20 US companies in Malaysia, which reflected more than 10% Amcham members, were respondents of the survey. The survey was conducted in May and June this year. Amcham president Sanjeev Nanavati said the US companies positive sentiments were also reflected in that 55% of those polled anticipated that the local economy would expand this year. "Malaysia also remains as the primary destination for other US companies in Asean to expand their businesses. About 40% out of a total 327 US companies senior executives in Asean have expressed that they plan to expand here. "The sentiments and expansion plans by the US companies to Malaysia are in part a testament to the effectiveness of the Government Transformation Programme (GTP) and Economic Transformation Programme (ETP)," he told reporters at the briefing on the survey yesterday. Nanavati said the survey was done in May to June and the economic condition had somewhat changed in the past few months. "But, I don't think it (the current economic condition) would change the sentiments on Asean, investment into Malaysia and the areas of satisfaction. "The only area that may have a slight moderation could be the global economic outlook," he said. On areas of concern, Nanavati said the respondents of the survey, had again expressed dissatisfaction with corruption; however, the magnitude of dissatisfaction had reduced significantly this year. |
| Posted: 14 Sep 2011 03:36 PM PDT PETALING JAYA: National carrier Malaysia Airlines (MAS) has announced the appointment of its new chief, Ahmad Jauhari Yahya, in hopes that he will be able to turn around the loss-making airline. The 56-year-old will be the airline's new managing director starting next Monday. Meanwhile, Mohammed Rashdan Mohd Yusof will remain the airline's executive director and report to Ahmad Jauhari, the company told Bursa Malaysia. Ahmad Jauhari was appointed to the board of Malaysia Airports Holdings Bhd earlier this year. He had previously served as the managing director at several companies, including Malakoff Bhd (from 1994-2010), Malaysian Resources Corp Bhd (1993) and Time Engineering Bhd (1992). He was also The New Straits Times Press (M) Bhd senior group general manager for production and circulation in 1990 and has served several directorships, which included Jordan's Central Electricity Generating Co Ltd and Saudi Arabia's Shuaibah Expansion Project Co Ltd. Aside from this, Ahmad Jauhari was the honorary president of Penjanabebas, the association of independent power producers. The hunt for a new MAS managing director began after Tengku Datuk Seri Azmil Zahruddin vacated his position as the airline's chief with immediate effect on Aug 9. Tengku Azmil's departure from MAS came with a board re-shuffle at MAS. In the revamp, six independent non-executive directors resigned and four new individuals Land & General Bhd founder Tan Sri Wan Azmi Wan Hamzah, IJM Corp Bhd executive deputy chairman Tan Sri Krishnan Tan, Astro Malaysia Holdings Sdn Bhd CEO Datuk Rohana Rozhan and Axiata Bhd director David Lau Nai Pek were appointed as independent non-executive directors. On the same day, MAS' major shareholder Khazanah Nasional Bhd and AirAsia Bhd's largest shareholder Tune Air Sdn Bhd announced a share-swap deal. Khazanah took up a 10% stake in AirAsia while Tune Air, the investment vehicle of AirAsia founders Tan Sri Tony Fernandes and Datuk Kamarudin Meranun, bought a 20.5% stake in MAS. On top of the share swap, a collaboration agreement was signed simultaneously by MAS, AirAsia and AirAsia X, which would effectively see MAS concentrate on being a full-service premium carrier, AirAsia on being a regional low-cost carrier and AirAsia X, a medium to long haul low-cost carrier. Meanwhile, it is expected that the five-member executive committee put in place as an interim measure to lead the airline while the search for a new chief was underway, will be disbanded. No announcement was made on this. The exco was chaired by MAS chairman Tan Sri Md Nor Yusof and the members included Datuk Mohamed Azman Yahya, Mohammed Rashdan, Fernandes and Kamarudin. |
| EU urges fiscal, aid reforms to save resources Posted: 14 Sep 2011 03:35 PM PDT BRUSSELS: European Union (EU) policymakers may scrap subsidies for energy, water and transport and impose new taxes in a move designed to cut the bloc's use of limited resources, a draft document seen by Reuters yesterday showed. A roadmap to be unveiled by the EU's executive commission next week will lay out the commission's thinking on targets and policy proposals for the EU to use resources more efficiently in the coming years, as the bloc struggles to ensure security of supply for energy and other raw materials. "Member states are invited to prepare plans and timetables to phase (environmentally harmful subsidies) out as part of their national reform programmes," the draft said, noting that state-backed programmes in the field of energy, transport and water often carry a negative environmental impact. "The commission will monitor and guide the phasing out of EHS in the European Semester as of 2012," the draft says, adding that by 2013 aid decisions will be made on resource efficiency grounds. But with power over fiscal and parts of subsidy policy in the hands of national governments, and EU industry wary of adding more cost to production, it is unclear how much of the commission's roadmap will be adopted into national legislation across the bloc. "By 2020 (environmentally harmful subsidies) will be phased out, with transitional measures for people in need," the draft says. Several future proposals promised in yesterday's draft will be limited to requests for EU governments to improve their resource efficiency, but they will stop short of concrete legislative proposals, which need approval from national governments and the European Parliament. The draft will also suggest new fiscal and economic incentives for producing resource-efficient goods. "By 2020 the shift to a share of environmental taxation in public revenues of an EU average of more than 10% will create a level playing field and support the economy to achieve greater resource efficiency," the draft says. "Member states are invited to within fiscal consolidation measures, shift taxation away from labour to environmental impacts," it adds. In 2012, the commission will also propose new rules that would impose environmental requirements on big public works and infrastructure projects. - Reuters |
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