theSun | WEDNESDAY JULY 1 2009 15

business KLCI
STI
1,075.24
2,333.14
0.6
15.97
Nikkei
TSEC
9.958.44
6,432.16
174.97
41.01
Hang Seng 18,378.73 149.78 KOSPI 1,390.07 1.62
SCI 2,959.36 15.95 S&P/ASX200 3,954.9 68

KL market summary

JUNE 30, 2009

Mild profit-taking pushes mart down INDICES CHANGE
FBMEMAS 7,206.83 -11.92
KUALA LUMPUR: Share prices on Bursa sen to RM6.95, Maybank added five sen to COMPOSITE 1,075.24 -0.60
Malaysia ended slightly lower yesterday on RM5.90 while Tenaga and Bumiputra-Com- INDUSTRIAL 2,351.86 +2.21
mild profit-taking after the government an- merce dropped five sen each to RM7.65 and CONSUMER PROD 322.36 +1.97
nounced a comprehensive deregulation of RM9.05 respectively. INDUSTRIAL PROD 84.91 +0.10
investment guidelines, dealers said. Volume on the Main Board increased CONSTRUCTION 207.76 0.59
TRADING SERVICES 142.64 -0.47
They said even though the move was a to 1.133 billion units worth RM1.307 billion
FINANCE 8,555.72 +6.68
win-win situation for all, global investors and from 768.939 million units worth RM962.887 PROPERTIES 716.94 -6.53
Bumiputeras, it would likely take a while to on Monday. Turnover on the Second Board PLANTATION 5,386.87 +15.89
EXCHANGE RATES June 30, 2009
take effect. surged to 96.568 million shares valued at MINING 281.68 +8.11
Losers led gainers by 371 to 232, while RM42.908 million from 43.143 million shares FBMSHA 7,445.71 -16.65 Foreign currency Bank sell Bank buy Bank buy
231 counters were unchanged, 391 untraded valued at RM16.607 million previously. FBM2BRD 4,754.51 -36.67
TECHNOLOGY 14.32 -0.15
TT/OD TT OD
and 36 suspended. Volume on the Mesdaq Market rose to 1 US DOLLAR 3.5640 3.4990 3.4890
Turnover rose to 1.288 billion shares 36.641 million units worth RM6.621 million TURNOVER VALUE
valued at RM1.363 billion from 877.335 from 25.203 million units worth RM4.223 1 AUSTRALIAN DOLLAR 2.9260 2.7990 2.7830
1.288bil RM1.363bil 1 BRUNEI DOLLAR 2.4640 2.4030 2.3950
million shares valued at RM998.192 million million yesterday.
yesterday. Warrants increased to 15.753 million units 1 CANADIAN DOLLAR 3.0930 3.0180 3.0060
Among actives, Time Engineering eased valued at RM3.155 million from 15.608 million trade/services 393.623 million, technology 1 EURO 5.0440 4.9220 4.9020
two sen to 30.5 sen, Talam Corp and KNM units valued at RM2.404 million on Monday. 7.848 million, infrastructure 73.324 million, 1 NEW ZEALAND DOLLAR 2.3590 2.2550 2.2390
both rose half sen to 11.5 sen and 84 sen On a sectoral basis, consumer prod- finance 50.529 million, hotels 2.235 million, 1 PAPUA N GUINEA KINA 1.4710 1.2320 1.2160
respectively while Time DotCom declined ucts accounted for 34.195 million shares properties 303.027 million, plantations 24.939
three sen to 41 sen. traded on the Main Board, industrial products million, mining 20,200, REITs 816,400 and 1 SINGAPORE DOLLAR 2.4635 2.4030 2.3950
In heavyweights, Sime Darby declined 10 160.045 million, construction 81.868 million, closed/fund 103,100. – Bernama 1 STERLING POUND 5.9320 5.7880 5.7680
1 SWISS FRANC 3.3070 3.2260 3.2110
100 ARAB EMIRATES DIRHAM 98.8100 93.4900 93.2900
100 BANGLADESH TAKA 5.5200 5.2000 5.0000

‘Relaxation on foreign ownership 100 CHINESE RENMINBI

100 DANISH KRONE
100 HONGKONG DOLLAR
100 INDIAN RUPEE
100 INDONESIAN RUPIAH
N/A
69.7500
46.8100
7.7000
0.0363
N/A
64.0900
44.3300
7.0700
0.0310
N/A
63.8900
44.1300
6.8700
0.0260

of funds will not affect PNB’

KUALA LUMPUR: The government’s
decision to relax foreign ownership in
investment management funds will not
jeopordise Permodalan Nasional Bhd
(PNB) as the business activities of PNB are
different, says its president and group chief
executive Tan Sri Hamad Kama Piah Che
Othman.
PNB is a competitive investment com-
pany and has successfully overcome a
multitude of investment related risks.
The activities of PNB are different from
others and if it is to be weighed in terms
of competition, it is already in a unique
position as it even receives amanah saham
share unit of RM10 also, Hamad Kama told
reporters after announcing the distribution
income for the Amanah Saham Nasional 2
unit trust fund, here yesterday.
“Money in the PNB’s unit trust funds can
be also withdrawn at any time compared
with other unit trust funds in Malaysia
where it will take some time to redeem the
units. This already shows that PNB is very,
very competitive,” he said.
Hamad Kama said PNB was confident
100 JAPANESE YEN 3.7170 3.6260 3.6160
100 NORWEGIAN KRONE 57.5500 52.8800 52.6800
100 PAKISTAN RUPEE 4.5300 4.1700 3.9700
100 PHILIPPINE PESO 7.5600 7.1000 6.9000
100 QATAR RIYAL 99.4500 94.6000 94.4000
of managing its businesses well and was for the foreign parties,” he said. 100 SAUDI RIYAL 96.5200 91.8100 91.6100
ready to face any challenges. He also believed that there were several 100 SOUTH AFRICAN RAND 47.1400 43.3700 43.1700
Prime Minister Datuk Seri Najib Abdul Bumiputera companies capable of com- 100 SRI LANKA RUPEE 3.2100 2.9400 2.7400
Razak yesterday announced the full liber- peting with foreign companies and hoped
100 SWEDISH KRONA 48.3100 43.9300 43.7300
alisation of the wholesale segment of the that the government will continue to help
fund management industry, allowing 100% the companies that are not ready yet. – 100 THAI BAHT 11.2300 9.5200 9.1200
foreign ownership for qualified and leading Bernama Source: Bernama/Malayan Banking Berhad
fund management companies to establish
operations in Malaysia.
He also announced that in the retail seg-
ment, the foreign equity ownership for fund
management companies will be raised to
Firefly to extend code-sharing with MAS
70% from the existing 49% limit. KUALA LUMPUR: Budget carrier “We hope by mid-July we’ll be a day from middle of next month
The government has also established Firefly will extend its code-share able to extend the code-share as the airline is also set to begin
a new investment institution called Ekuiti partnership with parent company partnership with MAS for all flights to Singapore from Ipoh,
Nasional Bhd (Ekuinas) as a private equity Malaysian Airline System Bhd Singapore routes, either from Kuala Terengganu and Kuantan.
fund with a paid-up capital of RM500 mil- (MAS) to include its latest Singa- Subang or Ipoh, Kuala Tereng- On the response to the Subang-
lion. pore route by mid-July, managing ganu, Kuantan and later Malacca, Singapore route, Leong said that
Hamad Kama said PNB welcomed the director Eddy Leong said yester- Kota Baru and Alor Star,” he told sales had been good despite stiff
decisions and believed that the measures day. Bernama here. competition.
announced will help spur positive eco- Firefly has a code-share part- Firefly will begin its thrice daily According to him, Firefly has
nomic growth for Malaysia and enable it nership with MAS for the Subang- flights from Subang to Singapore a slight edge over competitors by
to compete at the international level. Kerteh, Subang-Koh Samui, Pen- today. operating from the Sultan Abdul
“Such a competition (between local ang-Banda Aceh, Penang-Medan It plans to increase its Subang- Aziz Shah Airport in Subang which
and foreign company) is inevitable, but to and Penang-Phuket routes. Singapore frequency to four flights is nearer to the city. – Bernama
compete, specific openings must be made

FIC approval not needed for transactions

KUALA LUMPUR: All prop- government interest for Transactions no longer putra-owned company.
erty transactions, including properties valued at RM20 requiring the FIC approval Najib said with the com-
those between foreigners million and above, he said fall into two categories, prehensive easing of FIC
and non-bumiputras, will at the Invest Malaysia 2009 with the first relating to any guidelines at the firm level,
no longer require Foreign conference here. transactions involving sale the Economic Planning Unit
Investment Committee (FIC) For example, a dilution of by non-bumiputra or foreign will refocus its efforts towards
approval, Prime Minister Bumiputra interest refers spe- majority interest. coordinating distributional
Datuk Seri Najib Abdul Razak cifically to the instance where Secondly, any transactions policies at a macro level.
announced yesterday. a property currently majority involving purchase by bumi- In this respect, the govern-
The FIC approval will held by bumiputras and as a putra-controlled entity and ment remained committed
only be required for property result of a transaction ceases this will include a Bumiputra- towards enhancing economic
transactions which involve to be owned by a majority owned company acquiring participation by bumiputras,
a dilution of bumiputra or bumiputra entity. property from another Bumi- he added. – Bernama
Sato
brings
BP and Chinese oil firm win Iraq deals family
values to
BAGHDAD: British energy giant BP and ment with much-needed revenue as it serves of 43 billion barrels of crude, are
China’s CNPC International Ltd were un- struggles to rebuild the country after in southern and northern Iraq while the business
veiled yesterday as the first foreign firms three wars and more than a decade of gas concessions are west and northeast pg 16
in decades to win contracts to invest and debilitating economic sanctions. of Baghdad.
develop in Iraq’s war-battered energy “These contracts are needed for the “Our principal objective is to increase
sector. reconstruction of Iraq,” Prime Minister our oil production from 2.4 million bar-
The companies succeeded in their bid Nuri al-Maliki said at the opening of the rels per day to more than four million in
for the giant Rumaila oil field in south- bidding session in Baghdad. “They are the next five years,” Oil Minister Hussein
ern Iraq, which has known reserves of for the benefit of Iraqis and the compa- al-Shahristani said.
17.7 billion barrels, the oil ministry an- nies.” Increasing production to that level
nounced. The bidding process has attracted will, according to him, pump an extra
The contract was the first to be bids from 31 firms including US and US$1.7 trillion (RM5.95 trillion) into gov-
awarded in open tendering for six major European giants ExxonMobil and Shell ernment coffers over the next 20 years.
oil fields and two gas fields, nearly four but also a swathe of Asian companies Shahristani has said that only US$30
decades after Saddam Hussein’s party from China, India, South Korea and billion (RM105 billion) of that sum will
nationalised the Iraqi energy sector. Indonesia. go to the companies which have ex-
The deals will provide the govern- The oil deposits, holding known re- tracted the oil. – AFP