Isnin, 2 Disember 2013

The Star Online: Business

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The Star Online: Business

Malindo to fly KL-New Delhi route from Dec 30


PETALING JAYA: Malindo Air has got the nod to fly into New Delhi and Mumbai, destinations that low-cost airline AirAsia X gave up over a year ago.

The routes are currently only served by Malaysia Airlines and the entry of Malindo is likely to intensify competition and force airfares to fall.

India will be added to the Malindo network just nine months after the airline began operations in the country. It will also add Trichy, a southern point in India on Jan 3. It wil begin flying the KL-Delhi route on Dec 30 and KL-Mumbai on Feb 15. Malindo will use the slots given up by AAX for Dehli and Mumbai.

Malindo, which calls itself a hybrid airline, is a joint venture between Malaysia's Nadi Sdn Bhd and Indonesia's Lion Grup, which also owns Lion Air.

For starters, Malindo is offering a promotional all-inclusive one-way fare of RM599 each to Mumbai and Delhi. For Trichy the fare starts at RM399 one-way all-inclusive.

"The decision to start our services to these long-awaited new routes emphasises the value and importance of tourism, trade and business links between India and Malaysia," Malindo chief executive officer Chandran Rama Muthy said.

Malindo has begun ticket sales and is said to have received numerous bookings for the flights to India.

Though it is targeting passengers from Malaysia, the airline is a vital link for Indonesia's Lion Air gateway into that part of the world.

Tenaga price surges past 1993 Super Bull Run


KUALA LUMPUR: Tenaga Nasional's share price surged to an all-time high of RM12.60 on Tuesday, surpassing its previous high of RM12.31, nearly 20 years ago during the Super Bull Run.

Tenaga's share price had hit RM12.31 on Dec 31, 1993 during the peak of the Super Bull Run.

However, at 11am, Tenaga was off the high, up RM1.25 to RM11.14. There were 16.10 million shares done at prices ranging from RM10.80 to RM12.60.

The KLCI was up 7.34 points to 1,825.49. Turnover was 382.70 million shares valued at RM436.95mil. There were 206 gainers, 231 losers and 237 counters unchanged.

The surge in the power giant's share price also drove the FBM KLCI to an all-time high of 1,840.12 in early Tuesday trade.

Tenaga's share price jumped after the government allowed it to increase the electricity tariff with effect from Jan 1, 2014.

Supermax expects tariff hike to push up costs by RM3.5m


KUALA LUMPUR: Glove maker Supermax Corp Bhd expects the higher power tariffs from Jan 1, 2014, to push up its costs by RM3.5mil.

Its group managing director Datuk Seri Stanley Thai said on Tuesday he expected the tariff hike to impact 2.5% of its earnings.

On Monday, the government allowed Tenaga Nasional Bhd to increase the electricity tariff.

In Peninsular Malaysia, the tariff will be increased by 4.99 sen/kWh or 14.89% from 33.54 sen per kilowatt-hour (kWh) to 38.53 sen/kWh.

Commercial consumers' electricity bills will be increased by an average of 16.85%, ranging from 1.2% to about 18% while industrial consumers will face an average increase of 16.85%, ranging from 0.9% to about 17%.

As for special industrial tariff (SIT) consumers, their bills would increase by about 19%.

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