16 theSun | TUESDAY AUGUST 25 2009

business

IJM to launch projects worth RM1bil briefs

PETALING JAYA: IJM Land Bhd, the property Speaking to reporters after the company’s
development arm of the IJM Group, plans to annual general meeting and extraordinary
launch about 20 projects worth over RM1 bil- general meeting, Tan said low interest rate and
lion during its current financial year ending strong liquidity in the banking sector attracted
March 31, 2010. more buyers.
Chairman Datuk Krishnan Tan Boon Seng The company currently has 5,300 acres
said the company still received strong take- undeveloped land worth RM18 billion to be
up rate for its projects despite the economic developed over 15 years covering Penang,
slowdown due to its strategic locations. Klang Valley, Negri Sembilan, Malacca, Johor
In the last financial year ended March 31, Baru and Sandakan, Sabah.
2009, the company launched property projects On its RM500 million mixed development
worth RM600 million. project in Changchun, China, Tan said the
Dataprep eyeing IT
QL Resources proposes projects in Asean
1-for-5 bonus issue PETALING JAYA: Dataprep
Holdings Bhd, a consulting
KUALA LUMPUR: QL Resources Bhd has proposed a and technology services firm,
bonus issue of 66 million new shares to be credited as expects to clinch information
fully paid-up on the basis of one bonus share for every and technology projects in
five existing shares held on an entitlement date to be several Asean countries by
determined and announced later. year-end, given the upturn in
In a filing to Bursa Malaysia, QL said the bonus issue the industry.
aimed to increase the share capital to a level to better Its chief executive of-
reflect its current scale of operations.
ficer, Cheam Tat Inn, said the
“It also aims to reward its existing shareholders by company was actively in talks
enabling them to have greater participation in the equity to secure projects and was
of the company in terms of number of shares held,” it working closely with major
said.
principals to expand its solu-
It said the liquidity and marketability of the shares tion offering business.
were expected to improve with a larger capital base. “However, the company
QL said the future earnings per share would be has not concluded any agree-
proportionately diluted as a result of the increase in the ment yet.
number of shares arising from the issue. “We are looking at Indo-
The exercise is expected to be completed by the last nesia, Cambodia, Middle East
quarter of the financial year ending March 31, 2010, it and China,” Chiam told report-
said. – Bernama ers after the company’s annual
general meeting yesterday.
Petronas Gas posts lower
pre-tax profit for Q1
project is expected to be launched next year.
He said the company was also looking to KUALA LUMPUR: Petronas Gas Bhd’s pre-tax
undertake property projects overseas by lever- profit for the first quarter ended June 30, 2009 fell
aging on IJM Group track, which currently has to RM354.298 million from RM388.728 million in the
construction projects in Singapore, Australia, same quarter last year.
India and Vietnam. In a statement, Petronas Gas said revenue
For the financial year ended March 31, declined to RM785.559 million from RM796.699
2009, IJM Land recorded a higher revenue of million previously. Earnings per share fell to 13.59
RM671.01 million compared with RM295.20 sen from 14.94 sen in the same quarter last year.
million previously. Moving foward, Petronas Gas said that while
Its pre-tax profit rose to RM68.30 million revenue prospect for gas processing and transmis-
from RM54.89 million previously. – Bernama sion business would depend on demand for gas as
well as upstream gas production levels, the margin
for the processing and transmission business would
not be impacted as any variation in the cost of gas
would be passed through.
It said the prospect for the utilities business,
The group’s core business
however, would depend on the pace of economic
recovery as any variation in gas price would be
is derived from outsourcing reflected in the pricing to customers. – Bernama
its managed services division
which contributed about 90%
of annual revenue.
Blue Archipelago to operate
For the financial year ended RM150mil shrimp farm
March 31, 2009, Dataprep’s PETALING JAYA: PJ Blue Archipelago Bhd, a local
revenue dropped 27% to All hail shrimp aquaculture company, will operate a
RM54.2 million compared with
England’s RM150 million processing farm in Setiu, Tereng-
RM74.3 million previously. ganu soon.
He anticipates the second hero Chief executive officer Dr Shahridan Faiez
half of the current financial Strauss said the company, which operates a shrimp
year to be better as the
pg 28 farm in Kerpan, Kedah, would emerge a direct
economy was showing signs seller of the seafood once the 1,000ha farm
of having bottomed out. commences operations.
“We do see positive signs, He said the new farm is expected to contrib-
this will translate into much ute RM100 million in revenue to the company’s
better results for the company,” bottomline by June next year. The Kerpan farm
said Chiam, adding that the currently sells fresh shrimps to third party
company is looking at strategic processors.
investments while continuing “It harvests about 1,500 tonnes of premium
to focus on its core services. black tiger shrimps, annually,” he told reporters
– Bernama after a seminar on the outlook for the US shrimp
and seafood market yesterday. – Bernama

Germany wants GM talks on Peugeot wins International

Opel this week: Berlin
BERLIN: Germany wants a meeting with General
Motors in Berlin this week to discuss the fate of
Opel, a government spokesman said yesterday
as he played down talk of transatlantic tensions
over the issue.
“Our aim is to organise this week a meeting in
Berlin with a representative from General Motors’
board,” spokesman Ulrich Wilhelm told a regular
government briefing.
Germany, where around half of GM’s 50,000
employees in Europe work, had hoped for a deci-
sion last Friday from the US auto giant’s board on
which of two offers for Opel it wanted to accept.
Berlin wants GM to accept an offer from
Canadian auto parts maker Magna backed by
state-owned Russian lender Sberbank, but the
GM board is thought to prefer a bid from Brus-
sels-based investment group RHJ International.
GM’s board stopped short of making a deci-
sion on Friday and did not say what the next steps
would be.
Chancellor Angela Merkel expressed her
disappointment on Saturday, saying she hoped a
decision would be made this week, but Wilhelm
played down talk of any spat between Washing-
ton and Berlin.
“There are constant contacts with representa-
tives of the US government ... parallel to the talks
with GM,” Wilhelm said.
“We have always managed to avoid any ten-
sions in our transatlantic relations. The relations
between the two governments are good and
unaffected.” – AFP
Engine of the Year award
KUALA LUMPUR: The “International Engine of the
Year” award in the 1.4-litre to 1.8-litre category has
been won by the 1.6-litre, four-cylinder direct injec-
tion turbo-charged petrol engine designed by PSA
Peugeot Citroen in cooperation with BMW Group.
This was announced in a statement yesterday by
Nasim Sdn Bhd, a member of the Naza group of
companies and the franchise holder of Peugeot
automobiles in Malaysia.
“The 1.6-litre Peugeot 308 VTi, 308 Turbo and
308 GT available in Malaysia are all equipped
with variants of this award-winning, best-in-class
engine,” said Nasim chief executive officer SM
Nasarudin SM Nasimuddin.
The award was judged by an international panel
of 65 motoring journalists from 32 countries, and
this was the third year in a row it was won by
Peugeot. – Bernama

Oil rises in Asian trade on

economic recovery hopes
SINGAPORE: Oil prices rose in Asian trade
yesterday, bolstered by improved investor
sentiment amid widespread hopes for a global
economic recovery, analysts said.
A weaker US dollar was also a factor behind
the surge in oil prices, they said.
New York’s main contract, light sweet
crude for October delivery, gained 38 cents to
US$74.27 (RM259.95) a barrel. Brent North Sea
crude for October delivery advanced 15 cents
to US$74.34. – AFP

Lower pre-tax profit for

Hong Leong Industries
KUALA LUMPUR: Hong Leong Industries Bhd
reported a lower pre-tax profit of RM88.71 mil-
lion for the financial year ended June 30, 2009
compared with RM332.70 million posted in the
same period last year.
For the fourth quarter ended June 30, 2009,
the Hong Leong Group subsidiary registered a
sharp lower pre-tax profit of RM29.41 million
versus RM80.86 million chalked up in the pre-
ceding year’s corresponding quarter.
The company, in a statement to Bursa Ma-
laysia, attributed the weak performance to the
company’s semiconductor business which was
reeling under the global economic crisis.
Revenue for the current year to date was
lower at RM2.68 billion from RM3.10 billion
registered previously. – Bernama