theSun | MONDAY JULY 27 2009 15

business

KL market summary

Bursa likely to break 1,165 resistance level

SHARE prices on Bursa Malaysia are expected points to 5,578.75 and the Industrial Index JULY 24, 2009
to extend their bullish trend this week on advanced 101.64 points to 2,527.64. INDICES CHANGE
expectations that the global recession is Of the FTSE-BM Index series, the FMBEmas FBMEMAS 7,782.77 +29.37
easing. added 231.99 points to 7,782.77, the FBMTOP FBM-KLCI 1,155.88 +3.73
Dealers said the healthy rotation and tre- 100 rose 223.48 points to 7,576.71, the FB- CONSUMER PROD 336.33 +3.29
mendous liquidity are likely to push the key M2BRD increased 168.42 points to 5,010.79 INDUSTRIAL PROD 89.30 +1.09
FBM KLCI pass the 1,165 resistance level. and the FBM-MDQ was 20.31 points higher INDUSTRIAL 2,527.64 +21.67
However, investors might also continue to at 4,097.99. CONSTRUCTION 220.22 - 0.15
TRADING SERVICES 153.04 +0.61
look at Wall Street for clues before committing Total turnover eased slightly to 5.105 billion
themselves, they said. shares from 5.310 billion but the value rose to
FINANCE
PROPERTIES
9,413.32
737.92
+57.11
+2.91
EXCHANGE RATES July 24, 2009
For the week just ended, active buying RM7.922 billion from RM6.326 billion. MINING 310.05 +2.03
momentum in bluechips, especially planta- The Main Board volume also declined to 4.379 PLANTATIONS 5,578.75 -47.68 Foreign currency Bank sell Bank buy Bank buy
tion-related counters that make up 30% of the billion from 4.480 billion but the value expanded FBMSHA 7,975.76 +4.29 TT/OD TT OD
FBM KLCI components, drove the key market to RM7.698 billion from RM7.107 billion. FBM2BRD 5,010.79 +31.24
TECNOLOGY 15.90 +0.38 1 US DOLLAR 3.5760 3.5110 3.5010
barometer to hit a new high of 1,160.61 on The Second Board volume increased to
1 AUSTRALIAN DOLLAR 2.9490 2.8210 2.8050
Wednesday. 283.105 million shares valued at RM137.395 TURNOVER VALUE
Mild profit taking, however, trimmed some million from 279.605 million shares worth 1 BRUNEI DOLLAR 2.4850 2.4240 2.4160
1.039bil RM1.566bil 1 CANADIAN DOLLAR 3.2890 3.2090 3.1970
gains to put the benchmark index at 1,155.88 RM120.698 million.
at Friday’s closing. On the week to week basis, Turnover on Mesdaq shrunk to 191.997 1 EURO 5.0780 4.9560 4.9360
the FBM KLCI jumped 34.98 points. million shares valued at RM34.574 million million shares valued at RM42.900 million 1 NEW ZEALAND DOLLAR 2.3750 2.2690 2.2530
The Finance Index rose 276.53 points to from 338.957 million shares worth RM58.670 from 192.078 million shares worth RM31.580 1 PAPUA N GUINEA KINA 1.4890 1.2480 1.2320
9,413.32, the Plantation Index climbed 174.35 million while call warrants rose to 229.588 million the week before. – Bernama
1 SINGAPORE DOLLAR 2.4845 2.4240 2.4160
1 STERLING POUND 5.9200 5.7760 5.7560
1 SWISS FRANC 3.3400 3.2590 3.2440

REDtone launches
100 ARAB EMIRATES DIRHAM 99.1000 93.8600 93.6600
REDtone Mobile From left: 100 BANGLADESH TAKA 5.3400 5.2100 5.0100
is well positioned Celcom
100 CHINESE RENMINBI N/A N/A N/A
Malaysia
to meet the demands Berhad chief 100 DANISH KRONE 70.2500 64.5500 64.3500
of SME and Soho as corporation 100 HONGKONG DOLLAR 46.9700 44.4800 44.2800
we have in-depth officer 100 INDIAN RUPEE 7.6900 7.0700 6.8700
knowledge and Mohamed

013 Mobile service

by Tim Leonard
newsdesk@thesundaily.com
PETALING JAYA: Alter-
native telecommunications
company REDtone Inter-
national Bhd expanded its
product range by launching
the Redtone Mobile 013
service, specially designed
to cater to offer subscribers
rebates and incentives.
REDtone group manag-
ing director Wei Chuan
Beng said REDtone Mobile
013 is targeted at small and
medium-sized enterprises
(SMEs) and small office/
home office (Soho) seg-
ments, and is driven by an
innovative business model.
“REDtone Mobile is
well positioned to meet
the demands of SME and
Soho as we have in-depth
knowledge and extensive
experience in both market
segments and are supported
by a strong nationwide sales
channel,” said Wei.
“Our creative business
model provides SME and
Soho customers an oppor-
100 INDONESIAN RUPIAH 0.0371 0.0314 0.0264
Adlan
extensive experience Ahmad
100 JAPANESE YEN 3.7780 3.6860 3.6760
in both market Tajudin,
100 NORWEGIAN KRONE 58.8500 53.9700 53.7700
segments ...” REDtone 100 PAKISTAN RUPEE 4.4700 4.1600 3.9600
International 100 PHILIPPINE PESO 7.6100 7.1400 6.9400
Bhd group 100 QATAR RIYAL 99.7600 94.9000 94.7000
Also present was Deputy REDtone Mobile cur- ments and receive rebates CEO Zainal 100 SAUDI RIYAL 96.8500 92.1300 91.9300
Minister of Information, rently has more than 5,000 instantaneously. Amanshah, 100 SOUTH AFRICAN RAND 48.0200 44.0300 43.8300
Communications and Cul- agents nationwide to market The postpaid plan requires Joseph
100 SRI LANKA RUPEE 3.2300 2.9700 2.7700
ture, Datuk Joseph Salang its secured postpaid plan. a minimum usage commit- Salang,
Wei and 100 SWEDISH KRONA 49.4300 44.9200 44.7200
Gandum. REDtone Mobile’s new ment of only RM38 monthly.
“This unique referral subscribers will be given For international voice REDtone 100 THAI BAHT 11.2900 9.5700 9.1700
Mobile Source: Malayan Banking Berhad/Bernama
initiative is a key feature a 013 number and with call, subscribers enjoy sav-
of our REDtone Mobile mobile number portabil- ings of up to 80%. Services
Secured Postpaid Plan and ity, subscribers can switch REDtone’s is collaborat- Sdn Bhd
is aimed at encouraging from their current service ing with Celcom through a executive Long way to US recovery: Biden
customers to sign up as provider to REDtone and smart partnership and with director WASHINGTON: US Vice-President Joseph Biden yester-
many subscribers as they still maintain their existing the launch of its 013 mobile James day defended a US$787-billion (RM2.79 trillion) stimulus
can. The more subscribers number. service, REDtone’s product Lai at the package adopted to jump-start the troubled US economy,
their sign up, the more their REDtone Mobile also rage now comprises RED- launch of but admitted recovery was a long way off.
income,” said Wei. runs an e-purse system, tone Data, REDtone Broad- the REDtone “We still have a long way to go, but clearly we are
“In short, the plan has an innovation from its band and REDtone Voice. Mobile 013 closer to recovery today than we were in January,” Biden
dual benefits – it enables in-house R&D team, al- For more information, log service. wrote in an op-ed piece in The New York Times. “The
customers to save money lowing subscribers on to www.redttonemobile. Recovery Act has been critical to that progress.”
and more money at the to make pay- com Passed by Congress earlier this year and signed by
same time,” Wei President Barack Obama into law, the package combines
added. government-funded infrastructure projects with tax relief
and assistance to those affected by the slump.
But it has been under fire from Republics who dubbed
it inefficient and wasteful. – AFP
KAMARIDUAN MOHD NOR/THESUN

tunity to save when they

make calls. They can also
enjoy extra income and in-
centives if they successfully
refer their business partners
and friends to use our
postpaid service,” said Wei
at the REDtone Mobile 013
official launch on Friday.

Aussie PM rejects ‘protectionist’ push

MELBOURNE: Australian Prime
Minister Kevin Rudd yesterday
rejected calls for the government
to favour local companies when
spending money, saying such pro-
tectionist measures could spark a
trade war.
Rudd said much of Australia’s
national wealth depended on its
access to export markets and
it could not afford to support a
union-backed push to give local
firms preference over their over-
seas rivals.
“We need to avoid any form
of protectionist measure, which
invites retaliatory protectionist
measures from economies around
the world, and that’s what would
happen,” he told reporters.
Rudd said countries tried seal-
ing their economic borders in the
1930s and only succeeded in mak-
ing the Great Depression worse.
“What happens? The entire
global economy shrinks. What
happened in the ’30s? That de-
pression resulted in negligible
economic growth throughout the
1930s,” he said.
“We’re not about to repeat
those mistakes here.”
Finance Minister Lindsay
Tanner said he understood why
unions were pushing for Austral-
ian companies struggling in the
global downturn to get preferen-
tial treatment but trade barriers
would not help them survive.
“If we actually tilt the playing
field artificially in their favour,
that does them no benefits in
the longer term and a return to
protectionism would be a disaster
for the Australian economy in the
wider sense,” Tanner said.
“That is something we are ab-
solutely committed to avoiding,”
he told Channel 10 television.
The Australian Manufacturing
Workers Union (AMWU) said
76,000 jobs had been lost in the
manufacturing sector in the past
12 months and the centre-left La-
bor government should be doing
more to protect local workers.
AMWU national secretary
Dave Oliver said the govern-
ment could maximise the benefit
from the more than A$50 billion
(RM140.8 billion) it has spent
on economic stimulus measures
since late last year by choosing
Australian firms. – AFP