The Star Online: Business
The Star Online: Business |
- Vietnam seeks investments in Malaysia's halal sector
- Tenaga Nasional continues to shine, to benefit from Budget 2014
- KLCI extends winning streak, plantations, Petronas stocks lift
| Vietnam seeks investments in Malaysia's halal sector Posted: JOHOR BARU: Vietnam wants Malaysians to invest in the halal industry there to tap the growing demand for halal products globally. Vietnamese Ambassador to Malaysia Professor Nguyen Hong Thao said that Malaysia could use the country as the base for halal food processing and export the products to other parts of the world. He said Malaysian investors could form joint ventures with their Vietnamese counterparts to set up a dedicated halal park there for food processing. "We are keen to develop the halal industry in Vietnam, and Malaysia is the best partner due to its experience and expertise in the halal sector,'' Nguyen told a press conference after witnessing the signing of a memorandum of agreement between Johor-based CHE Group of Companies and Vietnam's Hau Giang Power Plant Joint Stock Co in johor Baru yesterday. The CHE Group has been awarded a US$620mil (RM1.96bil) contract for the designing, engineering, commissioning and supplying of power generation of 20 biomass rice husk plants in south-western Vietnam for five years. At the signing, CHE Group was represented by managing director Chang Khong Keong and Hau Giang Power Plant by managing director Pham Minh Ngoc. "Space is not a problem in Vietnam. We can provide up to 1,000ha for the halal park and we have a ready pool of workers,' Nguyen said. He said that with a population of 90 million, which is expected to reach 100 million by 2020, the Vietnamese market was also huge for halal food. Nguyen said Malaysia was one of the largest foreign investors in Vietnam with 441 projects worth US$10bil while the others are from Japan, South Korea, Singapore, Taiwan, the European Union and the United States. "The other sectors that Malaysian companies should consider investing are in construction, infrastructure, property and renewable energy,'' Nguyen said. |
| Tenaga Nasional continues to shine, to benefit from Budget 2014 Posted: KUALA LUMPUR: Shares of power giant Tenaga Nasional rose to a high of RM9.40 in active trade early Thursday, underpinned by expectations it would benefit from the Budget 2014 proposals, especially if the fuel cost pass-through (FCPT) formula is approved. At 9.18am, Tenaga was up 14 sen to RM9.50. Turnover was 1.97 million shares done. The gains in Tenaga help push the FBM KLCI higher, with the 30-stock index up 4.16 points to 1,818.27. Turnover was 159.38 million shares valued at RM87.63mil. There were 157 gainers, 108 losers and 164 counters unchanged. RHB Research, in a recent a report said that in view of the government's affirmative stance on rationalising subsidies, "we maintain our BUY call and RM10.13 fair value". It said Tenaga would benefit from the Budget, especially if the FCPT formula was approved. The Government has set target of reducing the budget deficit to 4% for 2013, 3.5% (2014) and 3% (2015) (from 2012's 4.5%). "We understand that the country's subsidies amount to RM50bil to RM60bil currently. Of the total, some RM25bil was spent on petrol and diesel consumption, followed by RM10bil to RM12bil for the power sector," it said. |
| KLCI extends winning streak, plantations, Petronas stocks lift Posted: KUALA LUMPUR: The positive mood on the Malaysian equities continued early Thursday, with the FBM KLCI adding nearly five points, underpinned by gains in plantations and Petronas-related counters. At 9am, the KLCI was up 4.57 points to 1,818.68. Turnover was 40.06 million shares valued at RM14.25mil. There were 90 gainers, 45 losers and 107 counters unchanged. On Wednesday, the KLCI jumped 10.53 points to close at an all-time high of 1,814.11. However, JF Apex Research cautioned Asian markets were set for a weak start after the S&P 500 broke its streak of record highs overnight and as concerns over tight liquidity in China weighed on sentiment. "As such, we expect investors to take profit and the KLCI to retreat with support at 1,800," said the research house. Genting Plantations rose 23 sen to RM10.14, United Plantations 22 sen to RM27.20 and KL Kepong 16 sen to RM23.24 while PPB Group added 10 sen RM14.70. Petronas Dagangan advanced 22 sen to RM30.52 and Petronas Gas gained 18 sen to RM23.68. Protasco added eight sen to RM1.41 after it secured a RM578.5mil contract from Putrajaya Corporation to build 1,680 apartments in Putrajaya. |
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