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business news
Asia stocks at four-year low
HONGKONG: Asian stocks fell to a
four-year low yesterday on growing
fears emerging market weakness
will prolong a global recession
and depress corporate earnings,
pushing the yen to a six-year high
against the euro.
European stock futures were
only down slightly, helped by a rise
in US stock futures.
Investors have mostly sought
refuge in government debt of the
euro zone, Japan and the United
States as well as the yen, after
credit market stabilisation in the
last week unearthed a renewed
focus on the adverse impact of the
financial crisis on real economies,
Domino’s on a roll
by Opalyn Mok
newsdesk@thesundaily.com
GEORGE TOWN: Despite the world
financial crisis, Dommal Food
Services Sdn Bhd, the franchiser of
Domino’s Pizza, is expecting strong
growth and will be investing around
RM5 million to open up to 10 new
stores in Malaysia next year.
Chief operating officer Ba U Shan-
Ting said the chain will concentrate
on opening new stores within its key
areas in Klang and Johor Baru.
“This year, we opened seven
stores nationwide, including two
in Penang,” he said.
theSun | FRIDAY OCTOBER 24 2008
especially in emerging markets.
The cost of insurance against
sovereign debt default in countries
such as South Korea, Indonesia and
the Philippines soared, with a sense
of panic festering two days after
Argentina moved to nationalise its
pension system. The step was inter-
preted by investors as a desperate
measure to stave off default.
Markets in developing coun-
tries, especially those that depend a barrel and dragged copper prices four-year low, and its 35% drop so
on portfolio flows to balance their to a three-year low. far in October has outpaced the
current accounts, were abandoned The MSCI index of Asia-Pacific 25% decline on the all-country
overnight, with almost no one stocks outside Japan fell 5.5% to world index. Japan’s Nikkei share
spared from a sharp slowdown its lowest since October 2004. average fell 2.5%, though it was
in the global economy that has The global emerging markets down as much as 7% earlier in the
pushed crude prices below US$70 index was down 3.7% to a near session. – AFP
MASRY CHE ANI/THESUN
Ba U said the company has
been experiencing double-digit
growth and it is pleased with its
performance in Penang.
Domino’s Pizza delivers around
20,000 pizzas to customers in Pen-
ang each month while nationwide,
it sells a total of 180,000 pizzas
each month. The Pulau Tikus
He said for Penang, it has a 30- Domino’s Pizza team
minute delivery guarantee where outside the new outlet.
customers will get a free Regular
Pizza voucher if the pizza is not customers’ expectations. is the fourth in Penang.
delivered within that time frame. The company has 37 stores na- The three other Penang outlets
The pizza chain also promises tionwide and two more are opening are in Krystal Point Corporate Park in
to remake its product or provide soon in Klang. Ba U said the latest Bayan Lepas, Lorong Delima in Island
a refund if the product is not up to store, which is set up in Pulau Tikus, Glades and Bandar Sunway in Prai.