theSun | FRIDAY APRIL 10 2009 œ 17

business

917.89 S
10.02 8,916.06 S
321.05
market summary
KLCI Nikkei
STI 1,828.51 S
44.55 TSEC 5,667.80 224.24
S
Equities market Hang Seng
SCI
14,901.41
2,379.88
426.55
S
S
32.49
KOSPI
S&P/ASX200
1,316.35
3,671.60
S
54.28
S
52.10
APRIL 9, 2009

stabilising, INDICES
FBMEMAS
CHANGE
6,028.48 +67.80

says ASCM COMPOSITE 917.89 +10.02

KUALA LUMPUR: The Malaysian

equities market is stabilising but its
future performance will also depend
on external factors, especially the US
market, according to the Association
PAC to call up Proton INDUSTRIAL
CONSUMER PROD
INDUSTRIAL PROD
CONSTRUCTION
TRADING SERVICES
FINANCE
PROPERTIES
2,168.12
289.41
68.37
181.70
123.14
6,832.44
540.74
+17.01
+0.55
+0.74
+2.22
+1.52
+80.41
+8.53

over MV Agusta sale

of Stockbroking Companies Malaysia
(ASCM).
ASCM chairman Datuk Saiful Bahri
Zainuddin said the US market served as
an indicator to the local market, which
has probably yet to see its bottom
down.
“In the last two to three weeks, the
indicator was there, but whether it is
sustainable or not is another point. We
are still seeing a lot of banks getting
bailouts in the United States,” he said.
He was speaking to reporters on
the sidelines of the memorandum of
understanding (MoU) signing ceremony
between the ASCM and the Taiwan
Securities Association (TSA) yesterday.
Saiful Bahri said the Malaysian
market was also still on the high side
and not as cheap compared with other
regional markets.
At the same event, TSA chairman Dr
Hwang Min-Juh said Malaysia’s market
has proven to be “very energetic and is
receiving a lot of attention from interna-
tional markets, especially as it is one of
the countries with the highest dividend
payouts in Asia”.
“As an emerging market, Malaysia
is of interest for many corporates
throughout the world. Looking at it now,
compared to 1991 where the com-
posite index was only a few hundred
points, it has now greatly increased. In
general,it is positive for Malaysia,” he
said. – Bernama
PENANG: The Public Accounts
Committee (PAC) is expected to
call up Proton Holdings Bhd for
clarification, on the sale of Ital-
ian motorbike manufacturer MV
Agusta, for one euro. PAC chair-
man Datuk Azmi Khalid said the
PAC would like Proton Holdings
to explain the sale in 2006.
“We hope to get more detailed
information on the sale of MV
Agusta,” he told reporters after
officiating the sports day of the
Methodist Boys School here yes-
terday.
Proton had acquired a 57.75%
stake in MV Agusta in December
Up to Port Klang Authority to release findings
KUALA LUMPUR: The release of the
audit findings on the accounts of the
Port Klang Free Zone (PKFZ) project
would be up to the Port Klang Au-
thority (PKA), said Transport Minister
Datuk Ong Tee Keat yesterday.
“The findings on the PKFZ project
has been completed. In fact, prior
to this, we needed to seek clarifica-
2004 for 70 million euro (RM367.6
million. The company, however,
decided to sell the stake a year
later to GEVI s.p.a for just one
euro.
The sale helped Proton to
write off the unit’s losses from its
accounts. Azmi also said that the
PAC has planned to seek further
clarification from other govern-
ment-linked companies (GLCs).
“Although it is not our respon-
sibility to call up the GLCs, we are
doing so to get a clearer picture of
their annual accounts.
“We have drawn up a schedule
and the sessions will begin next
tion of certain documents,” he told
reporters after launching MCA’s
employment programme, Project
Revitalise, here yesterday.
Asked when the report will be
released, Ong said: “That is solely
at the discretion of PKA. After all,
they are the one who engaged the
auditing firm.”
week,” he said.
He, however, declined to name
the GLCs to be called up by the
PAC.
He also disclosed that the PAC
had received many complaints
from contractors and suppliers
seeking its assistance in resolving
problems.
“We find that when the
government has announced a
massive stimulus package to
ward off the economic slowdown
and the money is not paid out,
then it is not effective in tackling
problems in the market,” he said.
– Bernama
In May last year, PKFZ appointed
international accounting firm Price-
waterhouse Coopers to conduct an
independent overall audit on the
accounts of the PKFZ project.
The audit exercise followed a
public outcry over a RM4.6 billion
soft loan given by the government.
– Bernama
PLANTATIONS 4,797.22 +65.83
MINING 243.17 (UNCH)
FBMSHA 6,353.73 +55.64
FBM2BRD 3,991.08 +29.24
TECHNOLOGY 11.48 +0.11
TURNOVER VALUE
715.124mil RM990.704mil
KL shares close higher
SHARE prices on Bursa Malaysia
closed higher yesterday on positive
sentiment, following the announce-
ment of the new cabinet line-up by
Prime Minister Datuk Seri Najib Tun
Razak, dealers said.
Economists felt that the new
cabinet line-up is broadly in line with
market expectations. The Finance
Index gained 80.41 points to 6,832.44,
the Industrial Index rose 17.01 points
to 2,168.12 and the Plantation Index
advanced 65.83 points to 4,797.22.
Of the FTSE-BM Index series, the
FBMEmas increased 67.8 points to
6,028.48 while the FBM30 gained
58.21 points to 5,884.97.
Advancers led decliners by 378
to 137 while 189 counters were un-
changed, 540 were untraded and 35
others suspended.
Among the actives, Maybank-OR
declined two sen to RM1.00, Johan
Holdings rose five sen to 31 sen, KNM
was flat at 43 sen and MRCB increased
four sen to 97.5 sen. – Bernama