5 Zulkaedah 1434
KUALA LUMPUR: Astro Malaysia Holdings Bhd's shares clawed back from its steepest intraday loss in a week yesterday, as investors took up some late positions ahead of a scheduled company briefing today.
The stock fell to an intraday low of RM2.89, closing the day one sen lower at RM2.95 a share with some 2.75 million shares exchanging hands.
The satellite TV provider is expected to hold a media conference today to announce its first-half results for the period ending January 31 2014.
The news conference takes added importance as it will be the first time Astro's top executives will be put under the microscope after it told Bursa Malaysia that the RM995.58 million it had won in an arbitration against three companies linked to Indonesian billionaire Mochtar Riady's Lippo Group cannot be enforced in Indonesia.
Astro is controlled by Ananda Krishnan, Asia's six richest man, who according to Malaysian Business, has a RM32.90 billion estimated fortune.
Astro said on Monday that the Supreme Court of Indonesia had dismissed its appeal against the Central Jakarta District Court's (CJDC) decision which had rejected the claimants' application to enforce the award.
It said the Supreme Court dismissed its appeal against the CJDC's decision as the awards were contrary to public order, amounted to interference with Indonesia's judicial process and violated the principles of the state and legal sovereignty of the country.
Astro's claims were put forward by its unit Measat Broadcast Network Systems Sdn Bhd against three firms from Indonesia, namely, PT First Media Tbk, PT Direct Vision and PT Ayunda Prima Mitra .
The three Indonesian firms are part of the Lippo group, Indonesia's largest developer and one of its biggest conglomerates.
To recap, PT Direct Vision in 2006 started cooperation with Astro, to provide pay TV service Astro in Indonesia. In the first year of its operation Astro made a big bang in the market of pay-TV grabbing the second largest share of the market after Indovision, with 140,000 subscribers in 2007.
In October 2008, Astro broadcast in Indonesia was stopped halted unilaterally by Astro, by stopping supply of programmes to PT Direct Vision on due to an internal conflict between PT Ayunda Prima Mitra, as a shareholder of PT Direct Vision with Astro Malaysia.
The conflict began started from the Lippo Group wanting to divest a 51 per cent stake in Direct Vision valued at US$250 million (RM825 million) to Astro based on an agreement in 2005. Astro, however, rejected as Astro it had already paid all operating and content costs of Direct Vision totaling around US$136 million in almost three years.
Read more: BTimes
Showing posts with label Corporate. Show all posts
Showing posts with label Corporate. Show all posts
Tuesday, September 10, 2013
Monday, February 25, 2013
Nestle Withdraws Exemption Application
15 Rabiulakhir 1434
KUALA LUMPUR, Feb 25 , 2013 - Following a series of discussions with the Malaysia Competition Commission (MyCC), Nestle Sdn Bhd has withdrawn its application for individual exemption.
In a statement issued today, MyCC said Nestle had previously filed an individual exemption application to exclude its pricing policy called the Brand Equity Protection Policy (BEPP) from the Competition Act 2010 (CA2010).
Nestle's pricing policy was a major concern for the MyCC as it has elements of Resale Price Maintenance (RPM), an anti-competitive conduct that prevents resellers from setting their prices independently, potentially leading to increased prices for consumers.
"While the MyCC recognises the rights of Nestle to promote and enhance its brand equity under the BEPP, the pricing policy as contained in the BEPP was likely to infringe section 4(1) of the CA2010 as it essentially constitutes a RPM.
More information: BERNAMA
In a statement issued today, MyCC said Nestle had previously filed an individual exemption application to exclude its pricing policy called the Brand Equity Protection Policy (BEPP) from the Competition Act 2010 (CA2010).
Nestle's pricing policy was a major concern for the MyCC as it has elements of Resale Price Maintenance (RPM), an anti-competitive conduct that prevents resellers from setting their prices independently, potentially leading to increased prices for consumers.
"While the MyCC recognises the rights of Nestle to promote and enhance its brand equity under the BEPP, the pricing policy as contained in the BEPP was likely to infringe section 4(1) of the CA2010 as it essentially constitutes a RPM.
More information: BERNAMA
Sunday, October 28, 2012
Encouraging Response For MAS Promotions
13 Zulhijjah 1433
KUALA LUMPUR, October 28, 2012-Malaysia Airlines' promotions under the banner of '40 Years of Amazing Journeys Together', which began on Oct 22, has received encouraging response with the Peninsular Malaysia-East Malaysia routes the most sought after for domestic travel.
In a statement, the airline said that around 72 per cent of domestic travel bookings snapped up by customers were for travel between Kuala Lumpur and Kota Kinabalu, Kuching, Miri, Sandakan, Tawau, Bintulu and Sibu.
It said that 27 per cent of international tickets purchased were for return travel to Beijing and Shanghai (starting at RM1,279 for economy class) as well as Hong Kong and Taipei at starting fares of RM879 and RM1,159 respectively.
More information: BERNAMA
KUALA LUMPUR, October 28, 2012-Malaysia Airlines' promotions under the banner of '40 Years of Amazing Journeys Together', which began on Oct 22, has received encouraging response with the Peninsular Malaysia-East Malaysia routes the most sought after for domestic travel.
In a statement, the airline said that around 72 per cent of domestic travel bookings snapped up by customers were for travel between Kuala Lumpur and Kota Kinabalu, Kuching, Miri, Sandakan, Tawau, Bintulu and Sibu.
It said that 27 per cent of international tickets purchased were for return travel to Beijing and Shanghai (starting at RM1,279 for economy class) as well as Hong Kong and Taipei at starting fares of RM879 and RM1,159 respectively.
More information: BERNAMA
Monday, October 15, 2012
Maybank Looking To Expand In China Through Organic Growth
30 Zulkaedah 1433
BEIJING, Oct 15 (Bernama) -- Malayan Banking Bhd (Maybank) plans to become a leading "cross-border" solutions bank in the context of Asean-China by 2015, said its President and Chief Executive Officer, Datuk Seri Abdul Wahid Omar.
"Maybank was looking to expand to other big cities in China in an organic manner without involving any merger and acquisition," he said at a press conference in conjunction with the opening of its Beijing branch, the third branch after Shanghai and Hong Kong, here today.
He said in the first half of 2012, Maybank has recorded a total profit after tax of US$37 million for its Greater China operations, which include its branches in Hong Kong and Shanghai.
More information :BERNAMA
BEIJING, Oct 15 (Bernama) -- Malayan Banking Bhd (Maybank) plans to become a leading "cross-border" solutions bank in the context of Asean-China by 2015, said its President and Chief Executive Officer, Datuk Seri Abdul Wahid Omar.
"Maybank was looking to expand to other big cities in China in an organic manner without involving any merger and acquisition," he said at a press conference in conjunction with the opening of its Beijing branch, the third branch after Shanghai and Hong Kong, here today.
He said in the first half of 2012, Maybank has recorded a total profit after tax of US$37 million for its Greater China operations, which include its branches in Hong Kong and Shanghai.
More information :BERNAMA
Wednesday, August 29, 2012
TM's Profit Almost Triples
12 Syawal 1433
STRONG BROADBAND TAKE-UP RATE: Company nets RM348.5m in second quarter
TELEKOM Malaysia Bhd (TM), the country's largest fixed-line phone company, almost tripled its second quarter net profit to RM348.5 million, partly helped by a strong broadband take-up rate.
The company also recorded a 8.6 per cent growth in revenue to RM2.43 billion, versus RM2.23 billion in the same period last year.
During the quarter ended June 30, 2012, the company also added 37,000 new broadband customers to 2.01 million, mainly driven by growth in its Unifi customer base.
To date, TM has more than 420,000 Unifi customers. The company had earlier forecast to hit 400,000 subscribers by year-end.
More information: Btimes
STRONG BROADBAND TAKE-UP RATE: Company nets RM348.5m in second quarter
TELEKOM Malaysia Bhd (TM), the country's largest fixed-line phone company, almost tripled its second quarter net profit to RM348.5 million, partly helped by a strong broadband take-up rate.
The company also recorded a 8.6 per cent growth in revenue to RM2.43 billion, versus RM2.23 billion in the same period last year.
During the quarter ended June 30, 2012, the company also added 37,000 new broadband customers to 2.01 million, mainly driven by growth in its Unifi customer base.
To date, TM has more than 420,000 Unifi customers. The company had earlier forecast to hit 400,000 subscribers by year-end.
More information: Btimes
Thursday, March 15, 2012
HSSB Agreement With REDtone To Uplift TM's Earnings
22 Rabiulakhir 1433
KUALA LUMPUR, March 15 , 2012 Telekom Malaysia Bhd's (TM) earnings are expected to see an uplift following its high speed broadband (HSBB) agreement with REDTone International Bhd (REDtone) yesterday, said Hong Leong Investment Bank (HLIB).
"We would expect the agreement to contribute positively to TM's earnings whereby, it would normally encompass two types of income, recurring and usage based," HLIB said in its research note today.
Under the agreement, TM will provide both HSBB access and transmission services to REDtone with the latter having access to 1.3 million premises by year-end.
HLIB believes that REDtone would utilise the HSBB as a backhaul to complement its existing 4,500 WiFi hotspots and potentially increase it to 5,000 by year-end.
Meanwhile, it also believes that TM will continue to lead the fibre-to-the-home market segment with the advantage as the first mover.
Source- BERNAMA
KUALA LUMPUR, March 15 , 2012 Telekom Malaysia Bhd's (TM) earnings are expected to see an uplift following its high speed broadband (HSBB) agreement with REDTone International Bhd (REDtone) yesterday, said Hong Leong Investment Bank (HLIB).
"We would expect the agreement to contribute positively to TM's earnings whereby, it would normally encompass two types of income, recurring and usage based," HLIB said in its research note today.
Under the agreement, TM will provide both HSBB access and transmission services to REDtone with the latter having access to 1.3 million premises by year-end.
HLIB believes that REDtone would utilise the HSBB as a backhaul to complement its existing 4,500 WiFi hotspots and potentially increase it to 5,000 by year-end.
Meanwhile, it also believes that TM will continue to lead the fibre-to-the-home market segment with the advantage as the first mover.
Source- BERNAMA
Monday, December 26, 2011
Eventful 2011 For Aviation, More Headwinds Await In 2012
1 Safar 1433
By Saraswathi Muniappan
KUALA LUMPUR, Dec 26,2011- It was undoubtedly an eventful year for the aviation sector in Malaysia which was dogged by controversies and surprises with the landmark share swap deal between rivals, AirAsia and Malaysia Airlines, topping the list and 2012 is not going to be any less.
The deal saw AirAsia's major shareholder, Tune Air Sdn Bhd, taking up 20.5 per cent share in MAS and Khazanah Nasional Bhd 10 per cent stake in AirAsia.
A management shake-up followed with AirAsia's chief executive officer, Tan Sri Tony Fernandes, appointed non-executive director of MAS and Tengku Datuk Seri Azmil Zahruddin Raja Abdul Aziz resigned as MAS managing director.
Then AirAsia and MAS emerged as official partners of Queens Park Rangers Football Club (QPR) with AirAsia sponsoring its "away" and "third shirt" and MAS the "home" shirts.
Fernandes holds 66 per cent stake in QPR.
However, the details of how the share swap sealed in September would work for both airlines beyond the above, were sketchy amid debates, mixed reviews and calls for investigation.
The latest to join the fray is the Malaysia Competition Commission (MyCC) where the Competition Act 2010 will come into force Jan 1, 2012.
MyCC's chief executive officer, Shila Dorai Raj, had said the commission has received complaints from consumers, urging it to look into the deal and whether it would reduce competition and result in expensive airfares.
Analysts, however, were positive on the collaboration, saying it would eliminate irrational competitive pricing, allow economies of scale, higher bargaining power and synergies.
They said it would give AirAsia a higher chance to fly routes which were previously exclusive to MAS and the national airline to achieve cost synergies in view of its high cost/available seat kilometre.
Some even noted that it could also result in MAS turning profitable as despite years of plans and revamp its financial woes continued in 2011 with common problems such as higher operating costs and spiralling fuel prices.
Earlier this month, yet another plan was announced by MAS' new chief executive officer, Ahmad Jauhari Yahya, which consisted of a series of action, including shrinking its network and a relentless focus on costs.
The plan, which was expected to allow MAS to return to the black by 2013, however, received a lukewarm response by analysts, saying such revamp and move were not new to the national carrier.
Among the routes MAS planned to suspend were Cape Town, Johannesburg, Buenos Aires and Dubai as well as four more routes via Sabah regional network.
AirAsia, on the converse, continued to expand its routes regionally, among the latest being Da Nang (Vietnam) and Surat Thani (Thailand).
It also opened a regional office in Jakarta, Indonesia to build relationship with Asean secretariat, which is also based there to work towards a one Asean sky and aviation authority like Europe's joint venture aviation authority.
It is also on track to list its Indonesian and Thailand affiliates.
AirAsia also hit a bumpy patch in its tiff with Malaysia Airports Holdings Bhd (MAHB) over the increase in airport tax at five airports nationwide.
Both also locked horns over the upgrade of the low-cost air terminal, KLIA2.
AirAsia X was also not spared from the controversies either, with news reports that it planned to withdraw its services to Paris, London, Mumbai and Delhi.
Its chief Azran Osman Rani, however, has denied the plan, saying the long-haul budget carrier has not made any decision yet.
The news reports said the implementation of the European Union's (EU) Emissions Trading Scheme (ETS) come Jan 1, 2012, visa restriction and additional airport fees in India were part of the reasons for the withdrawal.
The ETS scheme calls for airlines to pay up for carbon emissions it has not already accounted for.
An analyst said the industry was already struggling with volatile fuel cost and such ruling would only burden them further.
The International Air Transport Association (IATA), which represents nearly 240 airlines from 100 countries, were disappointed with the decision by the Court of Justice of the European Union to upheld EU's plan to include international aviation in the ETS from 2012.
"Today's (Dec 21) decision is a disappointment. It does not bring us any closer to a much-needed global approach to economic measures to account for aviation's international emissions.
"Unilateral, extra-territorial and market-distorting initiatives such as the EU's ETS are not the way forward," said IATA's director-general/chief executive officer, Tony Tyler.
IATA, in its recent report on the industry outlook, has painted a relatively bleak picture for 2012, citing the unresolved eurozone crisis as one of the factors, he said.
Tyler said airline profits could drop to US$3.5 billion from an earlier forecast of US$4.9 billion for a net margin of only 0.6 per cent from expected revenues of US$618 billion.
With various challenges and unresolved issues within and continued eurozone crisis that could continue to dampen global growth and air travel, airline companies need to brace themselves for more challenging headwinds.
Source- BERNAMA
By Saraswathi Muniappan
KUALA LUMPUR, Dec 26,2011- It was undoubtedly an eventful year for the aviation sector in Malaysia which was dogged by controversies and surprises with the landmark share swap deal between rivals, AirAsia and Malaysia Airlines, topping the list and 2012 is not going to be any less.
The deal saw AirAsia's major shareholder, Tune Air Sdn Bhd, taking up 20.5 per cent share in MAS and Khazanah Nasional Bhd 10 per cent stake in AirAsia.
A management shake-up followed with AirAsia's chief executive officer, Tan Sri Tony Fernandes, appointed non-executive director of MAS and Tengku Datuk Seri Azmil Zahruddin Raja Abdul Aziz resigned as MAS managing director.
Then AirAsia and MAS emerged as official partners of Queens Park Rangers Football Club (QPR) with AirAsia sponsoring its "away" and "third shirt" and MAS the "home" shirts.
Fernandes holds 66 per cent stake in QPR.
However, the details of how the share swap sealed in September would work for both airlines beyond the above, were sketchy amid debates, mixed reviews and calls for investigation.
The latest to join the fray is the Malaysia Competition Commission (MyCC) where the Competition Act 2010 will come into force Jan 1, 2012.
MyCC's chief executive officer, Shila Dorai Raj, had said the commission has received complaints from consumers, urging it to look into the deal and whether it would reduce competition and result in expensive airfares.
Analysts, however, were positive on the collaboration, saying it would eliminate irrational competitive pricing, allow economies of scale, higher bargaining power and synergies.
They said it would give AirAsia a higher chance to fly routes which were previously exclusive to MAS and the national airline to achieve cost synergies in view of its high cost/available seat kilometre.
Some even noted that it could also result in MAS turning profitable as despite years of plans and revamp its financial woes continued in 2011 with common problems such as higher operating costs and spiralling fuel prices.
Earlier this month, yet another plan was announced by MAS' new chief executive officer, Ahmad Jauhari Yahya, which consisted of a series of action, including shrinking its network and a relentless focus on costs.
The plan, which was expected to allow MAS to return to the black by 2013, however, received a lukewarm response by analysts, saying such revamp and move were not new to the national carrier.
Among the routes MAS planned to suspend were Cape Town, Johannesburg, Buenos Aires and Dubai as well as four more routes via Sabah regional network.
AirAsia, on the converse, continued to expand its routes regionally, among the latest being Da Nang (Vietnam) and Surat Thani (Thailand).
It also opened a regional office in Jakarta, Indonesia to build relationship with Asean secretariat, which is also based there to work towards a one Asean sky and aviation authority like Europe's joint venture aviation authority.
It is also on track to list its Indonesian and Thailand affiliates.
AirAsia also hit a bumpy patch in its tiff with Malaysia Airports Holdings Bhd (MAHB) over the increase in airport tax at five airports nationwide.
Both also locked horns over the upgrade of the low-cost air terminal, KLIA2.
AirAsia X was also not spared from the controversies either, with news reports that it planned to withdraw its services to Paris, London, Mumbai and Delhi.
Its chief Azran Osman Rani, however, has denied the plan, saying the long-haul budget carrier has not made any decision yet.
The news reports said the implementation of the European Union's (EU) Emissions Trading Scheme (ETS) come Jan 1, 2012, visa restriction and additional airport fees in India were part of the reasons for the withdrawal.
The ETS scheme calls for airlines to pay up for carbon emissions it has not already accounted for.
An analyst said the industry was already struggling with volatile fuel cost and such ruling would only burden them further.
The International Air Transport Association (IATA), which represents nearly 240 airlines from 100 countries, were disappointed with the decision by the Court of Justice of the European Union to upheld EU's plan to include international aviation in the ETS from 2012.
"Today's (Dec 21) decision is a disappointment. It does not bring us any closer to a much-needed global approach to economic measures to account for aviation's international emissions.
"Unilateral, extra-territorial and market-distorting initiatives such as the EU's ETS are not the way forward," said IATA's director-general/chief executive officer, Tony Tyler.
IATA, in its recent report on the industry outlook, has painted a relatively bleak picture for 2012, citing the unresolved eurozone crisis as one of the factors, he said.
Tyler said airline profits could drop to US$3.5 billion from an earlier forecast of US$4.9 billion for a net margin of only 0.6 per cent from expected revenues of US$618 billion.
With various challenges and unresolved issues within and continued eurozone crisis that could continue to dampen global growth and air travel, airline companies need to brace themselves for more challenging headwinds.
Source- BERNAMA
Saturday, December 3, 2011
MAHB Chairman Extends Support For Bashir To Stay On As Managing Director
7 Muharram 1433 Hijrah
SEPANG, Dec 2 ,2011- Malaysia Airports Holdings Berhad (MAHB) chairman Tan Sri Dr Aris Othman extended his full support to a proposal to extend the service of Tan Sri Bashir Ahmad as the company's managing director.
"I can say with confidence that the entire Board of Directors will extend their full support to him being retained as the managing director.
"In my opinion, the current situation is critical from the aspect of our standing and development. We should not make any changes whatsoever, particularly for this position," he said.
Aris was speaking at the 6th joint signing ceremony with the Peninsular, Sabah/Labuan and Sarawak, Malaysia Airports Holdings Berhad Workers Unions, here.
Bashir's position as managing director came under question again following a media report that he would be replaced by Pos Malaysia Berhad Chief Executive Officer (CEO), Datuk Syed Faisal Albar Syed Albar, whose contract ends at the end of this month.
Bashir's contract with MAHB ends in June next year.
The proposal to extend Bashir's service was voiced by the President of the Peninsular, Malaysia Airports Holdings Berhad Workers Union, Hussin Shaharn at the same ceremony.
It was also proposed at the event that a memorandum be sent to the Prime Minister, Datuk Seri Najib Tun Razak, on the proposal.
Hussin also proposed that another memorandum be sent to the Prime Minister on the confusion at the Low Cost Carrier Terminal (LCCT)yesterday in relation to the, "Say No To Airport Tax Increase", by Air Asia.
Air Asia is protesting MAHB's decision to raise the airport tax by between RM7 to RM14 at its five airports in the country, effective Thursday.
Source:BERNAMA
SEPANG, Dec 2 ,2011- Malaysia Airports Holdings Berhad (MAHB) chairman Tan Sri Dr Aris Othman extended his full support to a proposal to extend the service of Tan Sri Bashir Ahmad as the company's managing director.
"I can say with confidence that the entire Board of Directors will extend their full support to him being retained as the managing director.
"In my opinion, the current situation is critical from the aspect of our standing and development. We should not make any changes whatsoever, particularly for this position," he said.
Aris was speaking at the 6th joint signing ceremony with the Peninsular, Sabah/Labuan and Sarawak, Malaysia Airports Holdings Berhad Workers Unions, here.
Bashir's position as managing director came under question again following a media report that he would be replaced by Pos Malaysia Berhad Chief Executive Officer (CEO), Datuk Syed Faisal Albar Syed Albar, whose contract ends at the end of this month.
Bashir's contract with MAHB ends in June next year.
The proposal to extend Bashir's service was voiced by the President of the Peninsular, Malaysia Airports Holdings Berhad Workers Union, Hussin Shaharn at the same ceremony.
It was also proposed at the event that a memorandum be sent to the Prime Minister, Datuk Seri Najib Tun Razak, on the proposal.
Hussin also proposed that another memorandum be sent to the Prime Minister on the confusion at the Low Cost Carrier Terminal (LCCT)yesterday in relation to the, "Say No To Airport Tax Increase", by Air Asia.
Air Asia is protesting MAHB's decision to raise the airport tax by between RM7 to RM14 at its five airports in the country, effective Thursday.
Source:BERNAMA
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