16 œ
business
Forest’Secret
set to
penetrate
overseas
market
KUALA LUMPUR: Forest’
Secret, a wellness and beauty
brand that specialises in in-
novative herbal solutions,
is set to penetrate overseas
markets particularly in
Europe, the Middle East and
North Africa.
Forest’Secret Sdn Bhd is
the owner and brandbuilder
of the Forest’Secret - a pre-
mium herbal-based products
brand.
It is a wholly-owned
subsidiary of Malaysia Inter-
national Franchise Sdn Bhd
(MyFranchise), the franchise
investment holding company
and brandbuilder of Per-
badanan Nasional Bhd (PNS),
which in turn is an agency
under the wings of the En-
trepreneur and Cooperative
Development Ministry.
MyFranchise invests
in brands and builds new
brands as well as develop the
brands and products for the
international market.
Its chief executive officer,
Shahrul Azlan Zulkifli, said
the company expected to
open up outlets in London
and Jeddah this year.
“London will be a good
launchpad for entry into
Europe and Jeddah will be
our gateway into the halal
Middle East and North Africa
market.
“We are intensifying ef-
forts to get all the necessary
approvals and certification
for market entry as well as
concluding our market study
of both markets,” he told
Bernama recently.
Shahrul Azlan said Egypt
would be the next target des-
tination as it was a market of
more than 60 million people
with large cities and modern
lifestyle suitable for a pre-
mium halal brand in beauty
and wellness.
BCorp sets up joint-venture
stockbroking firm in Vietnam
KUALA LUMPUR: Berjaya
Corporation Berhad (BCorp)
on Friday announced its
inroads into the Vietnamese
financial market by launching
a joint-venture stockbroking
firm known as SaigonBank
Berjaya Securities Joint Stock
Company (SBBS), a newly li-
censed stockbroking company
in Vietnam.
BCorp’s subsidiary, Inter-
Pacific Securities Sdn Bhd,
owns a 49% stake in SBBS and
EON Bank set for talks to
acquire MCIS Zurich
PETALING JAYA: EON Bank Berhad
will begin talks to acquire a substantial
stake in MCIS Zurich Insurance Bhd.
Both companies were given ap-
proval by Bank Negara Malaysia to
begin talks on the acquisition that
will see EON Bank taking up at least
30% equity stake in MCIS Zurich.
EON has filed an announcement
with Bursa Malaysia on the matter.
EON Bank is the seventh largest
banking group in the country with
Investment opportunities still there in emerging markets
KUALA LUMPUR: Investment oppor-
tunities are still there in the emerging
markets in line with the expected
recovery in the economy and markets
next year.
Executive chairman of Templeton
Asset Management Ltd, Dr Mark
Mobius, said China, India, Turkey and
South Africa were among the countries
which would gain the most in terms of
higher economic growth and invest-
ment opportunities.
As for the Malaysian market,
Mobius said it will continue to see a
theSun | MONDAY JANUARY 19 2009
KL market summary
INDICES
FBMEMAS
COMPOSITE
JANUARY 16, 2009
5869.54
896.47
CHANGE
-12.52
-0.98
INDUSTRIAL 2106.92 -6.99
CONSUMER PROD 286.37 +0.39
INDUSTRIAL PROD 67.73 -0.12
CONSTRUCTION
TRADING/SERVICES
167.75
118.58
+0.51
-0.10
FINANCE 7040.69 -88.33
PROPERTIES 544.44 +1.80
PLANTATION 4347.81 +10.52
Ky Hoa Tourism and Trading tality industry and is owned by MINING 249.25 UNCH
Company Limited (Ky Hoa the Ho Chi Minh City’s Com- FBM2BRD 4001.89 +40.91
Co) has 13%, the Saigon Bank munist Party Committee. FBMSHA 6094.67 +16.81
for Industry and Trade 11% Saigon Bank for Industry Chow TECHNOLOGY 13.27 +0.01
and about 90 Vietnamese in- and Trade was established wins a
dividual shareholders owning in 1987 and is one of the first TURNOVER VALUE
the remaining 27%. joint stock commercial banks
Porsche 546.612mil 549.655mil
SBBS has a Charter Capital in Vietnam. It has a network of pg 18
of VND300 billion (US$18 mil- 62 branches and sub-branches
lion) and is fully licensed in all
areas of securities trading and
and a staff force of 1,227.
Inter-Pacific Securities Sdn
Prices expected to
securities-related businesses.
Ky Hoa Co has over 25
Bhd has over 500 dealers, re-
misiers and staff operating in rebound this week
years experience in the hospi- six locations across Malaysia. SHARE prices on Bursa Malaysia are expected
to see a rebound this week on improved con-
sumer sentiment along with a potential upside
to commodity prices, analysts said.
The stock exchange’s Composite Index
ended below the 900 mark on Friday.
While prices are expected to see a rebound,
the general sentiment will continue to be dic-
tated by external factors such as Wall Street’s
performance.
total assets exceeding RM40 billion, MCIS Zurich employs more than The outcome of the Kuala Terengganu
with a major presence in the retail 500 staff and sells through 3,000 by-election on Saturday could also influence
and small and medium enterprises agents operating through a network direction, said the head of research at a local
segment. It has a nationwide net- of 26 branches nationwide. brokerage company.
work of 140 branches serving one MCIS had its roots in the Malay- “The KLCI is expected to rebound to the 920-
million customers. sian Cooperative Insurance Society 930 range with the main market drivers likely
MCIS Zurich is one of the leading which was incepted in 1954, and to be the banking counters and to some extent,
life and general insurance companies later incorporated in 1998 to become plantation,” he said, adding that the support
in the country with total assets in ex- MCIS Insurance Bhd. The company level will likely be at 870-880 range.
cess of RM3.1 billion and an annual later merged with Zurich Insurance He said the market might be also volatile
gross premium income surpassing Malaysia Bhd in July 2002 to form amid the fluctuation in crude palm oil and crude
RM590 million. MCIS Zurich. oil prices, and the US financial crisis which is
far from over although the US government has
shown willingness to pour billions of dollars to
bail out its banks.
“The volatility in the crude palm oil prices
remain a concern for plantation stocks and it is
steady growth as the government is He said the main sectors that will likely to affect the major counters such as Sime
expected to deliver policies for the be most attractive for investment are Darby and IOI,” he said.
benefit of the country. consumer products and commodi- He said the local bourse however was still
“Among the key reasons that make ties. resilient as many foreign investors were still
emerging markets an attractive invest- “In the commodities market, in- having positions in the market.
ment options are higher economic vestment that is related to the mining “They see the volatility in the market as an
growth, sizeable foreign exchange re- sector such as gold will be the most opportunity.”
serves and lower debt levels,” Mobius lucrative,” he said. The research analyst also said that he
said during a media briefing here on Steep declines in global equity wished for more foreign interest presence in
Saturday. markets, he emphasised have brought the market who would look at the country as an
Mobius was in Kuala Lumpur to valuations down to even more attrac- alternative to other markets which have been
present a talk to Citibank’s Wealth Man- tive levels and investors should start hit rather badly by the global financial crisis.
agement affluent clients with a mini- looking at lucrative sectors of the – Bernama
mum portfolio value of RM200,000. market. – Bernama