16  theSun | THURSDAY JULY 16 2009

KLCI 1,097.24 17.61 Nikkei 9,269.25 7.44

business STI 2,389.42 78.87 TSEC 6,738.60 99.19
Hang Seng 18,258.66 372.93 KOSPI 1,420.86 35.30
SCI 3,188.55 43.39 S&P/ASX200 3,924.50 57.40

KL market summary
JULY 15, 2009
INDICES
FBMEMAS
CHANGE
7,408.11 +128.11
Bursa shares extend gains
FBM-KLCI 1,097.24 +17.61 SHARE prices on Bursa Malaysia extended Inc,” a dealer said.
INDUSTRIAL 2,397.02 +22.65 positive gains yesterday, taking the cue from He said market sentiment was also bol-
CONSUMER PROD 324.27 +2.30 Wall Street’s strong overnight performance, stered by strong crude palm oil prices and
INDUSTRIAL PROD 85.78 +1.26 dealers said. expectations of positive China gross domestic
CONSTRUCTION 209.31 + 3.08
Persistent fund buying interest was seen in product data due for release today.
TRADING SERVICES 146.07 +1.94
FINANCE 8,942.75 +244.27
selected heavyweights while retail investors Leading the actives, KNM Group climbed
PROPERTIES 713.07 +11.85 focused mostly on lower liners and penny 8.5 sen to 83.5 sen, SAAG Consolidated ad-
PLANTATIONS 5,356.74 +39.17 stocks, the dealers added. vanced 3.5 sen to 29.5 sen, Time Engineering
MINING 275.60 unch The benchmark FTSE Bursa Malaysia KLCI added 1.5 sen to 29.5 sen, Iris Corporation
FBMSHA 7,609.72 +96.83 rose 17.61 points or 1.63% to 1,097.24. edged up half a sen to 17.5 sen and Sino Hua- EXCHANGE RATE JULY 15, 2009
FBM2BRD 4,814.42 +69.47 Gainers outpaced losers 574 to 174.. An perked up one sen to 52 sen.
TECHNOLOGY 15.37 +0.62 Foreign currency Bank sell Bank buy Bank buy
“It was a good day for the local stock Among heavyweights, Public Bank and
TURNOVER VALUE market following the continued rise on Wall Maybank rose 25 sen each to RM9.95 and TT/OD TT OD
1.365bil RM1.787bil
Street due to better-than-expected results by RM5.90 respectively while Tanjong firmed up 1 US DOLLAR 3.6090 3.5440 3.5340
New York-based bank, Goldman Sachs Group 20 sen to RM14.40. 1 AUSTRALIAN DOLLAR 2.9030 2.7760 2.7600
1 BRUNEI DOLLAR 2.4870 2.4250 2.4170
1 CANADIAN DOLLAR 3.1930 3.1150 3.1030
1 EURO 5.0610 4.9390 4.9190

Rudd warns China Australia of

1 NEW ZEALAND DOLLAR
1 PAPUA N GUINEA KINA
1 SINGAPORE DOLLAR
1 STERLING POUND
1 SWISS FRANC
2.3450
1.4990
2.4865
5.9120
3.3280
2.2410
1.2530
2.4250
5.7690
3.2470
2.2250
1.2370
2.4170
5.7490
3.2320

over detained Rio ‘spy’

course has 100 ARAB EMIRATES DIRHAM 100.0200 94.7400 94.5400
significant 100 BANGLADESH TAKA 5.3400 5.2100 5.0100
economic 100 CHINESE RENMINBI N/A N/A N/A
interests 100 DANISH KRONE 69.9900 64.3100 64.1100
100 HONGKONG DOLLAR 47.4000 44.9000 44.7000
in its
100 INDIAN RUPEE 7.6600 7.0400 6.8400
relationship
SYDNEY: Australian Prime Minister very closely, and will be drawing Anglo-Australian giant Rio would 100 INDONESIAN RUPIAH 0.0371 0.0314 0.0264
Kevin Rudd yesterday warned China their own conclusions as to how it is not comment on the latest bribery
with China, 100 JAPANESE YEN 3.8690 3.7750 3.7650
it had economic interests at stake in conducted.” claims but repeated it was “committed but I also 100 NEW TAIWAN DOLLAR N/A N/A N/A
the case of a mining executive held on Rudd’s strong statement comes to high standards in business integrity want to 100 NORWEGIAN KRONE 57.8300 53.1000 52.9000
spy claims, taking a tough new line in 10 days after Rio Tinto’s Stern Hu, and takes its ethical responsibilities remind our 100 PAKISTAN RUPEE 4.5000 4.1800 3.9800
the escalating row. who has been leading troubled iron very seriously.” Chinese
But Beijing insisted trade relations ore negotiations, and three Chinese The incident has cast a shadow 100 PHILIPPINE PESO 7.6600 7.2000 7.0000
would not be harmed by the incident, colleagues were arrested by counter- over one of Australia’s most impor- friends 100 QATAR RIYAL 100.6800 95.7700 95.5700
as state media claimed the executive’s espionage agents in Shanghai. tant trade relationships and created a that China 100 SAUDI RIYAL 97.7500 92.9800 92.7800
company Rio Tinto had bribed offi- China has not detailed the allega- headache for the Mandarin-speaking too has 100 SOUTH AFRICAN RAND 45.4200 41.7900 41.5900
cials from all 16 of the country’s major tions against Hu but says it can prove Rudd, who has pledged to boost ties significant 100 SRI LANKA RUPEE 3.2600 2.9900 2.7900
steel mills. he was involved in bribery during the with China. economic 100 SWEDISH KRONA 47.6100 43.2800 43.0800
Rudd said Australia’s key trading iron ore talks, equating the offences The former diplomat vowed to
partner had “significant” business with spying and stealing state secrets. press for more information on Hu’s interests at 100 THAI BAHT 11.3500 9.6200 9.2200
interests on the line in Hu’s case and Commerce ministry spokesman arrest but said economic interests stake in its Source: Malayan Banking Berhad/Bernama
cautioned that foreign governments Yao Jian moved to soothe tensions, would not stop Australia speaking out relationship
and international companies were saying Hu’s case would not harm on human rights or “broader ques- with
watching developments closely.
“Australia of course has significant
the vital trade link, which was worth
US$58 billion (RM205.8 billion) last
tions of China’s engagement with the
institutions of the world.” Australia Maybank appoints three
economic interests in its relationship year. “We pursue a broad-based rela- and with independent directors
with China, but I also want to remind “China and Australia are very tionship with the Chinese, one where its other
our Chinese friends that China too has important trading partners and have we will pursue all of our interests commercial KUALA LUMPUR: Maybank announced the appointment
significant economic interests at stake good co-operation in areas including simultaneously,” he said. of three new independent directors to its board effective
in its relationship with Australia and raw materials, free trade talks and “When it comes to prosecuting the
partners yesterday.
with its other commercial partners agriculture,” Yao told reporters. interests and supporting the wellbeing around the They are Tan Sri Dr Hadenan
around the world,” Rudd said. “I don’t think the Rio Tinto case of individual Australians abroad, that world.” Jalil, Datuk Seri Ismail Shahudin
“A range of foreign governments will affect China’s trade environment will be done with full vigour ... without and Datuk Dr Tan Tat Wai.
and corporations will be watching this or foreign investment environment,” compromise to the interests of a single – Kevin Rudd The appointments represent
case with interest and be watching it he added. Australian.” – AFP a significant development in the
on-going transition and succession
planning exercise implemented by
the Maybank board of directors.

BoJ extends emergency steps “We have embarked on a jour-

TOKYO: Japan’s central bank said yesterday it was
extending its emergency measures to tackle the
worst recession in decades, as it downgraded its
outlook for the world’s number two economy.
But the Bank of Japan (BoJ) said the slump was
easing and economic conditions “have stopped
worsening.”
“The current financial and economic situation
is still severe, but we’ve seen clear signs of an
improvement,” central bank governor Masaaki
Shirakawa told a press conference.
At the same time, however, “domestic demand
remains weak,” he added.
The Bank held its key interest rate steady at
0.1%, as expected, and said it would continue
its policy of buying up corporate debt to keep
credit flowing to cash-strapped firms during the
Porsche mulls Qatari bid,
snubs VW
FRANKFURT: The German luxury sports car
maker Porsche has ruled out selling shares to
Volkswagen and will now only consider an of-
fer from Qatar, a press report said yesterday.
Porsche’s supervisory board, which is to hold
an exceptional meeting on July 23, has placed
the question of a Qatari investment under the
heading “decision” while one by VW is listed
under “information,” the daily Bild reported.
VW, the biggest European carmaker, has
offered to buy 49.9% of Porsche, which itself
currently owns 51% of VW.
According to media reports, Qatar is willing
recession.
The programmes, which were due to expire
at the end of September, were extended for the
rest of 2009. The BoJ also extended a currency
swap agreement with the US Federal Reserve
until Feb 1.
While there are hopes the recession is eas-
ing, gross domestic product is expected to shrink
3.4% in the financial year to March 2010, worse
than a previous forecast for a contraction of 3.1%,
it said.
The Bank also revised its outlook for the next
financial year, predicting positive growth of 1%,
against a previous projection of 1.2%.
It said the economy should start recovering
from the second half of this financial year, sup-
ported by policymakers’ efforts to tackle the
to pay €7 billion (RM34.3 billion) for more than
25% of the Porsche Automobil Holding group
and VW stock options owned by Porsche.
The maker of the 911 sports car is being
crushed by €9 billion (RM44.1 billion) in debt
that it ran up while trying to acquire a VW
stake of around 75%. – AFP
Honda targets to sell 200
units of Accord a month
KUALA LUMPUR: Honda Malaysia Sdn Bhd
is targeting to sell 200 units of the Accord
2.0 VTi-L per month, said managing direc-
tor Toru Takahashi yesterday.
He said the new variant of the eighth
economic downturn and a credit crunch.
However, Shirakawa cautioned that uncer-
tainty lingered, declining to outline a possible
“exit strategy” from its emergency pump-priming
measures.
Japan entered recession in the second quarter
of 2008 as its heavy dependence on overseas
demand to drive growth left it highly exposed to
the global downturn.
The economy shrank at an annualised pace
of 14.2% in the first quarter of 2009, the worst
performance on record, but recent data have
indicated that exports and industrial production
have begun to rebound.
“Public investment is increasing and exports
and production are picking up,” the BoJ said in a
statement. – AFP
generation Accord, priced at RM149,800
on the road, inclusive of insurance, was
now available at all authorised Honda
dealers nationwide.
“The Accord appeals to those who as-
pire to make a refined and sophisticated
statement and enjoy pure luxury and per-
formance,” he said in a statement here.
The Accord 2.0 VTi-L is fitted with value
added features and improved styling such
as a plush leather interior, arm rests and
fully automated eight-way drivers seat.
To date, close to 9,900 units of the Ac-
cord have been sold in Malaysia and there
are almost 600 units of confirmed orders to
be delivered, Takahashi said. – Bernama
ney of strategic transformation to
build on our leadership capabilities
both in Malaysia and the region,” Hadenan
said Maybank chairman Tan Sri
Mohamed Basir Ahmad in a state-
ment yesterday.
“In the past year, we have seen
a transition in leadership at senior
management level and to date, we
have set in motion a number of
intensive measures to strengthen
process structures, service
standards and build on our human
capital resources,” he said. Ismail
Hadenan, 63, is currently chair-
man of Takaful Malaysia Bhd, ICB
Islamic Bank Ltd (Bangladesh) and
PNB Property Holdings Sdn Bhd. He
is also chairman of the Operations
Review Panel of the Malaysian
Anti-Corruption Commission.
Ismail, 58, is currently on the
board of UEM Group Bhd, PLUS
Expressways Bhd, Aseana Proper-
ties Ltd, a company listed on the
London Stock Exchange, SMPC Tan
Corporation Bhd, EP Manufacturing Bhd and several other
private limited companies.
Tan, 63, is currently the group managing director of
Southern Steel Bhd, a post he has held since 1983.
He is also a director of Shangri-la Hotels (Malaysia)
Bhd, Titan Chemicals Corp Bhd and Natsteel Ltd, a plc
in Singapore.
Maybank also announced that two of its existing direc-
tors, Mohd Hashir Abdullah and Tan Sri Chua Hock Chin,
are stepping down as directors of the board effective the
same date. – Bernama