30 theSun | FRIDAY DECEMBER 19 2008

business news Hang Seng

15,497.81
S&P/ASX200
3,581.20
37.29 10.60

TSEC KLCI STI KOSPI Nikkei KL market summary

4,694.81 880.50 1,798.95 1,175.91 8,667.23 DECEMBER 18, 2008

46.79 15.00 19.66 6.16 54.71 INDICES CHANGE

FBMEMAS 5,747.55 +114.22
COMPOSITE 880.50 +18.00
INDUSTRIAL 2,099.16 +24.69

All-new City set to boost Honda sales

KUALA LUMPUR: The All-New
Honda City 1.5 sedan is expected
to boost Honda Malaysia Sdn Bhd
sales next year with 18,000 units
targeted to be sold in the first year of
its launch despite the current global
economic slowdown.
Managing director/chief executive
officer Atsushi Fujimoto said the
company was confident of achieving
the target in view of the positive
growth in the local motor vehicle
market.
“We are looking to sell 1,500
units a month. The market here is
much better than in Europe, the
US and Japan which are facing a
slowdown in their car industry,” he
CONSUMER PRODUCT 281.22 -0.26
INDUSTRIAL PRODUCT 67.29 +0.58
CONSTRUCTION 166.54 + 4.25
TRADING SERVICES 118.33 +2.36
FINANCE 6,766.49 +128.98
PROPERTIES 517.55 +8.66
PLANTATIONS 4,172.64 +209.17
told reporters after the launch of City features such as paddle shift, rear MINING 235.07 UNCH
here yesterday. reclining seat, rea underseat tray and FBMSHA 6,005.40 +142.90
Fujimoto said Malaysia’s economy 16-inch alloy wheels. FBM2BRD 4,015.58 +101.72
TECHNOLOGY 13.35 +0.21
was not badly affected by the current The City is powered by the new
crisis. i-VTEC engine and is the first in TURNOVER VALUE
“Malaysia has a safe and stable the 1.5-litre sedan segment to come 503.437mil RM804.952mil
financial system. Honda Malaysia with the five-speed automatic gear
will not call for any retrenchment transmission.
and cut its operation,” he said.
The All-New City model is the
Honda City was first introduced
in 1996 in response to the growing KLCI up 18 points
third generation Honda City. needs and want for cars among SHARE prices on Bursa Malaysia closed mostly higher
It is available in two variants. Asians in tandem with the economic yesterday led by gains on plantation stocks amid im-
The City grade S sells at RM84,980 growth in the region. proved sentiment on optimism over the United States
(on-the-road price with insurance) It has become a strategic model for Tesco economic recovery, said dealers.
and the grade E at RM89,980. Honda following the Civic, Accord, Ampang Gains on most key plantation stocks helped elevate
The grade S offers essential CR-V and Jazz, with cumulative sales voted best the benchmark KLCI to 880.50, up 18.00 points.
features of the All-New City while passing one million units as at late Dealers said interest was largely seen in plantation
the grade E variant offers additional May this year. – Bernama hypermart stocks as the weaker US dollar has spurred sales of
pg 32 crude palm oil, thus boosting earnings.
The greenback has been badly hit, falling to a
two-and-a-half year low, after the Federal Reserve on
Tuesday cut the benchmark interest rate to as low as
zero per cent.
According to the dealers, investors took strong posi-
tions in welcoming President-elect Barack Obama’s
assistance in assembling a two-year stimulus package
of US$850 billion.
They said the plan has raised optimism that the US
economy could be healed going forward, thus, raising
the economies of its global trading partners.
Among the actives, KNM Group added two sen to 42.5
sen, IOI Corp gained 32 sen to RM3.62, Ramunia inched
up half a sen to 35.5 sen, Resorts World added half a sen
to RM2.22 and Genting topped up two sen to RM3.78. Of
the heavyweights, Sime Darby perked 15 sen to RM5.65,
Tenaga Nasional gained 10 sen to RM6.10, Maybank was
flat at RM5.25, MISC went up half a sen to RM8.50 and
Public Bank was unchanged at RM8.45. – Bernama

No summons from
Goldstar, says Proton
KUALA LUMPUR: Proton Holdings
Bhd has not been served with
any summons by its Chinese joint
venture partner, Goldstar Heavy
Industrial Co Ltd, and therefore
was not aware of the basis of the
purported claim, it said in reply to
Bursa Malaysia’s query.
Bursa queried the national
carmaker on a news report that
said Goldstar was claiming RM520
million from Proton for breach of
contract.
Proton also confirmed the joint
venture company still exists though
it never commenced business
operations due to the failure of
Goldstar to meet its contractual
obligations, including procuring the
necessary approvals from the
relevant authorities in China.
“The parties have referred the
dispute to arbitration, in accordance
with the spirit of the joint venture
agreement,” it said.
The collaboration, signed in
early 2002, was to assemble Waja
cars and make parts in China, tap
the vibrant growth in the world’s
populous nation as well as cater to
its neighbouring countries.
The joint venture involved Proton
taking up a 49% stake in Goldstar for
RM85.5 million. – Bernama

BLand posts lower Q2 pre-tax profit

KUALA LUMPUR: Berjaya Land Ber-
had recorded a revenue of RM1.06
billion and a pre-tax profit of RM49.0
million in the second quarter ended
Oct 31, 2008 as compared to a
revenue of RM175.6 million and a
pre-tax profit of RM320.0 million
reported in the preceding year cor-
responding quarter.
In its filing to Bursa Malaysia
on Wednesday, the group said the
significant increase in revenue was
mainly due to the consolidation of
BToto as a subsidiary company ef-
fective February this year. The lower
pre-tax profit in the second quarter
was mainly due to:
» the property development
division registered lower progress
billings and the property investment
division similarly recorded lower
rental income as a result of the
disposal of KL Plaza properties in
the previous financial year; and
» impairment in value of invest-
ments in an associated company
and certain quoted investments as
detailed in Note A(4)(i) arising from
stock market downturn as a result
of the global financial turmoil.
In addition, in the previous year
corresponding quarter, the group
recorded a total exceptional gain
of
RM378.8 million arising from the
placement of 170 million 5% ICULS
1999/2009, disposal of Berjaya Cor-
poration Berhad ICULS 2005/2015
and the divestments of Berjaya
Hotels & Resorts (Mauritius) Limited
and Berjaya Mahe Beach (Cayman)
Limited.
As for the six-month period
ended Oct 31, 2008, the group’s
revenue and pre-tax profit were
RM2.02 billion and RM132.8 mil-
lion respectively as compared to
a revenue and pre-tax profit of
RM325.7 million and RM362.5 mil-
lion respectively reported in the pre-
vious year corresponding period.
For the second quarter, the
group reported an approximately
10% increase in revenue to RM1.06
billion as compared to a revenue
of RM964 million whilst pre-tax
profit dropped to RM49.0 million
from RM83.8 million reported in
the preceding quarter ended July
31, 2008.