The Star Online: Business
The Star Online: Business |
- Asian markets mixed in early trade on Euro debt woes
- McCann bags top prize in Kancil Awards
- Top three rubber producers aim to set up regional market
| Asian markets mixed in early trade on Euro debt woes Posted: 15 Dec 2011 06:09 PM PST PETALING JAYA: Asian markets were mixed in Friday's early trade as the ongoing Euro zone's sovereign debt crisis continued to sap investor confidence. On the local front, the benchmark FBM KLCI was up marginally by 0.15 points to 1,464 points at 9.26am. Consumer counters such as Dutch Lady Milk Industries Bhd, Nestle (M) Bhd and Fraser & Neave Holdings Bhd were among the top gainers in early trade as investors preferred to put their money in defensive stocks. Shares of Proton Holdings Bhd continued its uptrend, rising 5 sen to RM4.60 on speculation that local automotive assembler, DRB-HICOM Bhd might purchase its major shareholder, Khazanah Nasional Bhd's 42.7% stake in the national carmaker. As for regional markets, Tokyo's Nikkei 225 was up 0.53% to 8,421.73 and Hong Kong's Hang Seng Index gained 0.46% to 18,109.92. Shanghai's A index was down 0.06% to 2,179.51 while Taiwan's Taiex Index rose 0.45% to 6,795.28. Seoul's Kospi Index was up 0.81% to 1,833.83, with Singapore's Straits Times Index gaining 0.37% to 2,644.99 Nymex crude oil gained 10 cents to US$93.97 per barrel. Spot gold rose US$11.30 to US$1,581.82 per ounce. The ringgit was quoted at 3.179 to the US dollar. Full content generated by Get Full RSS. |
| McCann bags top prize in Kancil Awards Posted: 15 Dec 2011 06:06 PM PST KUALA LUMPUR: McCann Erickson Sdn Bhd has won the "Agency of The Year" category at the annual Kancil Awards, which honours the best in the advertising industry. The agency was also the winner of this year's Golden Kancil, the top award in the industry. Mattel (M) Sdn Bhd was chosen as the "Advertiser of The Year" while Commercial Radio Malaysia president Datuk Borhanuddin Osman won the Chairman's Award. The gold winners in The Student Kancil award category, sponsored by Star Publications (M) Bhd, were Sih Kai Ling from Alpha International College and two students from The One Academy of Communication Design, Chok Yi Ning and Lee Jia Chang. With the theme "Stop The Ordinary", the organising chairman Nicky Lim said creativity was a business tool in the industry. "The wheels of economic fortunes may fluctuate but the enduring strength of our industry must be our collective ability to create work that reflects the true spirit of a brand," he said. Hosted by 4As Malaysia, there were 11 main creative Kancil Awards categories in film, print, radio, cyber, outdoor, direct, design, integrated, craft, media and rebel. Star Publications (M) Bhd was also one of the sponsors of the event held yesterday. Full content generated by Get Full RSS. |
| Top three rubber producers aim to set up regional market Posted: 15 Dec 2011 05:00 PM PST BANGKOK: The world's top three rubber producers -- Thailand, Indonesia and Malaysia -- aim to launch a regional rubber market to set realistic prices and cushion farmers from volatility in futures prices, a senior official said on Thursday. "After a ministerial meeting in Bali, we agreed to set up a regional centre of rubber, or a regional market that would help reflect realistic prices from producers," Yium Tavarolit, chief secretary of the International Rubber Consortium (IRCo), told Reuters, referring to an annual meeting in Bali early this week. The IRCo brings together rubber industry officials, exporters and government officials from the three Southeast Asian countries. "The idea is still in a stage of feasibility study and the market could be a physical market, a futures market or a hybrid one," he added. The top three producers discussed volatile rubber prices at the ministerial level meeting of the International Tripartite Rubber Council (ITRC) in Bali, but the council did not take further steps to stabilise prices, saying industry fundamentals remained strong, with no stocks overhang in the market. "The ministers noted the recent downtrend of natural rubber prices. The decline was due to the weak sentiment brought by the euro zone debt crisis and global economic slowdown," the ITRC said in a statement. Benchmark Thai smoked rubber sheet (RSS3), offered at $3.35 per kg on Thursday, has almost halved from a record high of $6.40 per kg in February. The top three rubber producers, who account for around 70 percent of global rubber output, normally use supply cuts and export curbs to help support prices, although some traders are skeptical about the effectiveness of the measures. In December 2008, when physical rubber fell to a near seven-year low of $1.10 per kg as global recession loomed, Thailand, Indonesia and Malaysia agreed to cut exports by a total of 915,000 tonnes in 2009 to prop up prices. The market started to rebound from mid-2009, but that was largely due to rising demand from tyre companies in China and India. The export restriction plan was never strictly enforced. - Reuters Full content generated by Get Full RSS. |
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