The Star Online: Business
The Star Online: Business |
- KLCI higher in early trade, plantations fall
- UMW Toyota opens body, paint centre
- Timber industry resilient
| KLCI higher in early trade, plantations fall Posted: 02 Oct 2012 06:19 PM PDT KUALA LUMPUR: Blue chips advanced in early trade on Wednesday, supported by gains in banks, as the FBM KLCI approached its all-time closing high of 1,654 on Sept 4. At 9.04am, the KLCI was up 1.65 points to 1,652.68. Turnover was 35.78 million shares valued at RM26mil. There were 90 gainers, 46 losers and 80 counters unchanged. Hong Leong Bank rose 12 sen to RM13.52 while Maybank added six sen to RM9.18. Petronas Gas gained 10 sen to RM19.52. Adventa added 10 sen also to RM1.89 after it declared a one-off proposed distribution of RM1.70 a share. Eng Kah was the top gainer, up 48 sen to 60 sen. KrisAssets added 28 sen to RM2.55 while E&O and DiGi added five sen each to RM1.73 and RM5.37. However, plantations fell, dragged down by the steep fall in crude palm oil prices. Sime fell 21 sen to RM9.53, KLK 14 sen to RM21.90 while FGVH shed four sen to RM4.83 and TSH three sen lower at RM2.20. |
| UMW Toyota opens body, paint centre Posted: 02 Oct 2012 06:15 PM PDT KLANG: UMW Toyota Motor Sdn Bhd has officially opened its flagship body & paint centre in Bukit Raja as part of the development of the company's Integrated Quality Hub (IQH). "The body and paint centre, sited on 5.7 acres, forms an integral part of UMW Toyota's RM200mil IQH on a vast 87.5-acre plot which was previously launched about a year ago," said the company in a statement yesterday. The company said the integrated facility was established for all of the pre-delivery activities before vehicles were delivered to UMW Toyota outlets. "The main objective is to improve the delivery lead time so that Toyota customers can enjoy quality vehicles, fresh from the factory. The RM200mil IQH itself forms part of UMW Toyota's bigger RM1bil investment plans until 2013. "The body and paint centre is specially designed to be environmentally friendly and has met all the environmental requirements will particularly enhance UMW Toyota Motor's after sales service experience for our customers as it is designed to meet their expectation of high quality repair works within the shortest possible time frame." The facility would also be the model and training centre for other body and paint centres in Malaysia, the company said, adding that it was equipped with 42 work bays, four paint booths and state-of-the-art repair equipment, with a repair capacity of over 6,150 units per year. |
| Posted: 02 Oct 2012 06:14 PM PDT PETALING JAYA: The Malaysia Timber Council (MTC) forecasts a 5% growth for the timber industry based on the strong demand in the furniture sub-sector and signs of improvement in the US economy. MTC chief executive officer Cheah Kam Huan said: "Hopefully by the year-end, the whole industry can see growth of 5%." The United States, Malaysian timber's second largest market after Japan, was showing signs of economic improvement, he told StarBiz. The overall timber exports improved marginally by 0.3% in the first half of the year compared with the corresponding period last yearwhile furniture exports rose 12% in the first half of this year compared with the same period last year. "Our industry is quite resilient because we export to many markets. For furniture alone, we export to 150 countries," he said. Malaysia's exports of major timber and timber products contracted by 2.4% to RM20.03bil in 2011 from RM20.52bil in 2010 due to the slowdown in the global markets. "Ultimately, the target is to hit RM53bil worth of timber exports by 2020," he added. He said industry players had to look to growth markets like the BRIC (Brazil, Russsia, India, China) countries, Turkey, Saudi Arabia, Oman and also South-East Asia. MTC also encourages timber players to produce value-added products. "Instead of exporting sawn timber and plywood in the raw form, they can export flooring products. "Based on calculations, value improved by seven times when raw timber materials are made into furniture," he said, adding that the industry was competing against other building materials like glass, aluminum, steel and concrete. MTC will hold a three-day MTC Global Woodmart which will start tomorrow at the Kuala Lumpur Convention Centre. A total of 118 exhibitors from 20 countries are expected at the event. |
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