14 theSun | FRIDAY JULY 24 2009

KLCI 1,152.15 3.45 Nikkei 9,792.94 69.78

business STI 2,484.90 34.07 TSEC 6,980.88 4.44
Hang Seng 19,817.70 569.53 KOSPI 1,496.49 2.45
SCI 3,328.49 31.88 S&P/ASX200 4,064.10 4.40

market summary JULY 23, 2009

Share prices end higher INDICES CHANGE

CONSTRUCTION 220.37 +1.50
SHARE prices on Bursa Malaysia between the 1,142.93 and the FBM Top 100 advanced
CONSUMER 333.04 +0.70
ended higher yesterday with 1,157.72 levels throughout trad- 39.13 points to 7,554.23, the FBM2BRD 4,979.55 +77.73
interest confined to bluechips, ing yesterday. FBMMesdaq Index gained 36.56 FBMEMAS 7,753.40 +47.00
especially plantation related A dealer said although the points to 4,065.34 and the FBM- FBM-KLCI 1,152.15 +3.45
stocks, which placed the bench- FMB KLCI index started the day 2BRD Index rose 77.73 points to FBMSHA 7,971.47 +54.77
mark index in positive territory, lower, it managed later to rise on 4,979.55. FINANCE 9,356.21 +22.33
dealers said. buying activities. Advancers led decliners by INDUSTRIAL PROD 88.21 +1.31
The FTSE Bursa Malaysia The Finance Index rose 22.33 452 to 176 while 217 counters INDUSTRIAL 2,505.97 + 22.44
MINING 308.02 UNCH
Kuala Lumpur Composite Index points to 9,356.21, the Plantation were unchanged, 389 untraded
PLANTATIONS 5,626.43 +24.43
(FBM KLCI), pushed by selected Index advanced 24.43 points and 33 others suspended. PROPERTIES 735.01 +9.28
bluechips,increased 3.45 points to 5,626.43 and the Industrial Total volume declined to TECNOLOGY 15.52 +0.14 EXCHANGE RATE JULY 23, 2009
to close at 1,152.15. It had Index was 22.44 points higher 1.035 billion shares worth TRADING SERVICES 152.43 +1.03
opened 1.89 points lower at at 2,505.97. RM1.432 billion from Wednes- Foreign currency Bank sell Bank buy Bank buy
TURNOVER VALUE
1,146.81. The FBMEmas Index in- day’s 1.111 billion shares valued TT/OD TT OD
The FBM KLCI moved creased 47 points to 7,753.4, at RM1.842 billion. – Bernama 1.034bil RM1.432bil
1 US DOLLAR 3.5830 3.5180 3.5080
1 AUSTRALIAN DOLLAR 2.9610 2.8310 2.8150
1 BRUNEI DOLLAR 2.4910 2.4300 2.4220

Porsche boss resigns,

1 CANADIAN DOLLAR 3.2660 3.1860 3.1740
cutive Officer
Porsche Chief Exe 1 EURO 5.1060 4.9810 4.9610
lin Wie dek ing has resigned
Wende
r 16 yea rs, pav ing the way for 1 NEW ZEALAND DOLLAR 2.3920 2.2860 2.2700
afte
the iconic sports 1 PAPUA N GUINEA KINA 1.4860 1.2460 1.2300
a merger between
kswagen.
car maker and Vol 1 SINGAPORE DOLLAR 2.4905 2.4300 2.4220
a deal with
The move could see
for a capital 1 STERLING POUND 5.9070 5.7640 5.7440

VW tie-up gains ground

the Sheikh of Qatar
five billion euros
injection of some 1 SWISS FRANC 3.3690 3.2860 3.2710
100 ARAB EMIRATES DIRHAM 99.2900 94.0400 93.8400
100 BANGLADESH TAKA 5.3400 5.2100 5.0100
100 CHINESE RENMINBI N/A N/A N/A
100 DANISH KRONE 70.6300 64.8700 64.6700
STUTTGART: Porsche chief Wen- get € 50 million (RM250 million) and by the collapse of his plan 100 HONGKONG DOLLAR 47.0600 44.5700 44.3700
delin Wiedeking (pix) stepped in severance pay, of which half to take over VW with a plan 100 INDIAN RUPEE 7.6500 7.0200 6.8200
down yesterday ahead of a prob- would go to a “social foundation” based on complex stock op- 100 INDONESIAN RUPIAH 0.0371 0.0314 0.0264
able tie-up between the sports to aid Porsche workers and “age- tions in the much bigger group. Volkswagen:
st Porsche: Maker 100 JAPANESE YEN 3.8370 3.7440 3.7340
World’s third-large r,
car maker and European giant ing journalists in need.” VW supervisory board of the 911, Boxste
carmaker behind 100 NEW TAIWAN DOLLAR N/A N/A N/A
Volkswagen as a caustic family According to German press president Ferdinand Piech, Cayman, Cayenne
GM and Toyota
feud appeared to near an end. reports however, he could end who is also a major Porsche Sales
100 NORWEGIAN KRONE 58.6800 53.8700 53.6700
98,652
The dynastic Porsche and up with as much as € 250 million shareholder, now appears set 6,271,724 (new cars, 2008) 100 PAKISTAN RUPEE 4.4900 4.1800 3.9800
Piech families that own Porsche (RM1.24 billion), while Porsche to impose his vision of taking +1.2%
+1.3% Change on 2007 100 PHILIPPINE PESO 7.6400 7.1700 6.9700
also agreed to wrap up landmark said Haerter would receive €12.5 Porsche on as VW’s 10th brand. Rev enu e €7,021m 100 QATAR RIYAL 99.9500 95.0800 94.8800
talks with Qatar on a stake in million. The decision to finalise talks €113,808m
€6,392m
€4,688m Profit after tax 100 SAUDI RIYAL 97.0400 92.3100 92.1100
Porsche, and to raise another Wiedeking’s position had been with Qatar and raise fresh funds 12,202
Em plo yee s 100 SOUTH AFRICAN RAND 48.1400 44.0600 43.8600
€5 billion (RM25 billion) in fresh seriously eroded by a series of was taken at a late night meet- 369,928 NEWS
© GRAPHIC
capital to pay down heavy debt. press leaks that ing of the supervisory committee Source: Annual rep
orts 100 SRI LANKA RUPEE 3.2400 2.9700 2.7700
Porsche’s supervisory com- p r e - a n - that began Wednesday in Weis- 100 SWEDISH KRONA 48.9900 44.5200 44.3200
mittee “unanimously gave nounced his sach near Stuttgart, southwest- 100 THAI BAHT 11.3100 9.5800 9.1800
power to the management departure ern Germany, one day ahead of An increasingly bitter power Source: Malayan Banking Berhad/Bernama
to seal the discussions” amid a schedule. struggle between Wiedeking and
Piech had tarnished both compa-
with the oil-rich Gulf state,
a statement said, and
clan war
between
“The basis for the creation
of an integrated group between nies, and was said to be blocking Malaysia to ease
paved the way for a Por-
sche tie-up with Volkswa-
t h e
fami-
Porsche SE and Volkswagen AG
has thus been laid,” said Porsche,
a deal with Qatar.
Porsche production chief labour rules to woo China
gen, Europe’s biggest car l i e s the builder of the 911 sports car. Michael Macht, 48, is to succeed KUALA LUMPUR: Malaysia plans to ease entry rules for
maker. t h a t The announcements were Wiedeking, the company said. Chinese labour in a bid to woo more investment from the
Another statement said control in line with plans prepared by Meanwhile, Porsche’s super- country, a source familiar with the matter told Reuters
Wiedeking and financial Porsche, Wiedeking for the company, visory board was to examine two yesterday.
director Holger Haerter would which owns about 51% of competing offers to ensure its Under the proposal, skilled and unskilled workers from
both resign “with immediate Volkswagen, to pay off at future, while the executive com- China will be allowed to work at companies and factories
effect,” after the failure of their least part of its roughly mittee of VW’s supervisory board set up in Malaysia by Chinese investors.
bold strategy to take over VW. €10 billion (RM50 billion) began a meeting of its own on Chinese workers make up only 0.5% of about a two-mil-
Wiedeking – said to be of debt. Thursday in Stuttgart. lion strong migrant worker population in Malaysia.
the best-paid boss in Wiedeking had sought The first offer for a major At present they are allowed employment only in a limited
Germany – was to to maintain the independ- stake in Porsche was designed by number of sectors, but Malaysia – like many other countries
ence of Porsche, which its management and Wiedeking. in Asia – is seeking to tap Chinese investment at a time when
nonetheless now looks That proposal calls for Qatar to global flows are expected to slow.
set to be folded into VW. buy Porsche shares and VW stock “It is one of various incentives the government hopes will
The statement that options owned by Porsche. allow it to reach out and tap into China as an increasingly
announced Wiedeking’s The second offer came from important source of foreign investments,” the source said.
resignation said both he VW, which would buy Porsche’s Malaysia’s investment inflows rose to a record RM46.1
core automaking activities, with billion in 2008 but plummeted to RM4.2 billion from January
and Haerter considered
Qatar possibly investing in the to May this year due to shrinking exports, with the economy
the step “a significant
set to contract by up to 5%. China is Malaysia’s fourth largest
contribution to the ap- integrated company.
trading partner and is increasingly important.
peasement of the situa- Porsche abandoned in May a
The source said the easing of Chinese labour is one of
tion and to support the plan to take full control of VW and
various incentives that will be announced by the government
forming of an integrated its hefty reserves of liquidity, and and comes in the wake of new Prime Minister Najib Razak’s
car manufacturing com- was forced to find other sources visit to Beijing in June which was aimed at enhancing bilateral
pany” with Volkswagen. of financing. – AFP trade. – Reuters

Tamiflu sales soar 203% amid UK announces £1.1-billion

swine flu pandemic: Roche
ZURICH: Sales of anti-flu drug Tamiflu soared 203% in the
first six months of 2009, Swiss pharmaceutical giant Roche
said yesterday, contributing to a 9% growth in overall sales
for the group.
Amid the swine flu pandemic, sales of the drug reached
1.0 billion Swiss francs (RM3.4 billion) in the first half of the
year. Sales to governments and corporations which were
stockpiling the drug reached 653 million francs (RM2.3 bil-
lion) during the period, said Roche.
“Additional government stockpiling orders and increased
demand in the retail pharmacy market contributed to the
particularly strong sales recorded in the second quarter,”
it added.
Roche said it would be ramping up its production capacity
of Tamiflu – one of two drugs recommended by the World
Health Organisation to treat the A(H1N1) virus – to 400 mil-
lion packs annually by 2010.
In its first half earnings statement, the group also said that
overall sales reached 24 billion Swiss francs (RM80 billion),
up 9%. – AFP
rail upgrade
LONDON: Britain will spend £1.1 billion (RM6.5 billion)
on electrification of its rail network to help cut carbon
emissions and speed up journey times, the government
said yesterday.
The line between London and Swansea in South
Wales will be upgraded, as well as the link between
the cities of Liverpool and Manchester in northwest
England. Trains on both routes are currently powered
by diesel.
The short-term cost of infrastructure company Net-
work Rail’s financing will be met by the government,
and there will be no impact on other Network Rail
investment programmes in the five-year investment
period to 2014, the Department of Transport said.
The electrification programme will pay for itself over
the long term through lower train leasing, maintenance
and operating costs, it added.
Work will start immediately and for Liverpool-Man-
chester will be completed within four years and for
London-Swansea within eight years. – Reuters