Friday, October 2, 2009

Berjaya to invest in a tourist resort on Phu Quoc island


Berjaya to invest in a tourist resort on Phu Quoc island


VNBusinessNews.com - While seeking to sell a number of hotels and tourist resorts worldwide, Berjaya Hotels & Resorts (Berjaya), Malaysia, showed its optimism and confidence in the potentials of the Vietnamese market.

Executive Director of the group Joseph Won said that the organization is teaming with a Vietnamese company to set up a joint venture at a share ratio of 70/30 to run a construction project for a Berjaya tourist resort on Phu Quoc island.

The project will cost some US $45 million and is expected to be finished by the third quarter of 2010.

The Malaysian group is also considering to build a hotel in Ho Chi Minh City and a tourist resort along the Da Nang coastline within 4-5 years.

Reportedly, the group is planning to turn its investment by expanding potential markets, namely Vietnam, Japan, South Korea, Maldives, and Malaysia.

Tuesday, September 29, 2009

Berjaya Hotels wants to hive off some foreign assets


Berjaya Hotels wants to hive off some foreign assets


Hospitality group Berjaya Hotels & Resorts plans to sell off its properties in Seychelles, Sri Lanka, Singapore and London to concentrate on its more profitable markets in Asia-Pacific.

Chief executive officer Joseph Won said the group wants to sell Berjaya Colombo Hotel and Berjaya Singapore Hotel, exiting entirely from Sri Lanka and Singapore, despite the two being in Asia-Pacific, to focus on bigger markets.

Won said if prices are right, it would also dispose of Berjaya Beau Vallon Resort and Berjaya Praslin Resort in Seychelles and Berjaya Eden Park Hotel in London.

He said the group is in discussions with a few parties for its properties in Seychelles and London and hopes to sell them within the next two quarters.

Locally, the group operates Berjaya Langkawi Resort, Berjaya Tioman Resort, Berjaya Redang Resort, Berjaya Georgetown Hotel, Colmar Tropicale and Berjaya Times Square Hotel in Kuala Lumpur.
The properties, including those overseas, are worth a combined RM900 million.

"We have made a strategic decision to be Asia-Pacific focused. We are transforming ourselves in such a way to become one of the biggest hotel groups in the region," Won said in an interview with Business Times.

He added that the plan for Asia-Pacific would be to open up to 20 new hotels and resorts in Japan, South Korea, Vietnam, Maldives and Malaysia over the next six to seven years.

The list would include Berjaya branded properties, which the group would own and operate on its own, and hotels operated by third parties.

Berjaya Hotels & Resorts will use proceeds from the sale of the foreign properties, and its own reserves and existing cash flow to finance the expansion.

In addition to opening more properties, the group will also be looking for management contracts in Asia-Pacific.

"We are getting offers from China and Vietnam to operate their wholly-owned resorts and hotels, under the Berjaya brand. This is something we would be doing on a big scale," Won said.
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The group, in a 70:30 joint venture with a local Vietnamese firm, is currently constructing Berjaya Resorts Phu Quoc Island in Phu Quoc Island for US$45 million (US$1 = RM3.48).

Won said the new resort is targeted for opening in the second or third quarter of next year.

"This is our first property in Vietnam and I wish to do more. I am bullish on the market. We will be expanding there aggressively," Won said.

The group is also looking to open a city hotel in Ho Chi Minh City and a beach resort in Da Nang, within the next four to five years.

Meanwhile, Won said Berjaya Hotels & Resorts may be listed in the future to expedite its expansion and unlock the value of its properties.

"Listing is a possibility that everybody is talking about. My (immediate) aim is to take the group global after we have opened the new properties," he added.

By Business Times (by Sharen Kaur)

Thursday, September 24, 2009

Berjaya Corp, Ribhan to jointly bid for job in Brunei



KUALA LUMPUR: Berjaya Corp Bhd (BCorp) has entered into a memorandum of understanding (MoU) with Ribhan Nurhidayah Contractor to jointly submit a tender to the Brunei Economic Development Board to undertake the energy efficient waste management system for Brunei.

In a filing with Bursa Malaysia yesterday, BCorp said if the parties were successful in the tender, a joint venture (JV) company incorporated under the laws of Brunei should be formed.

“The JV company shall be 60% owned by BCorp or its related companies and the remaining 40% by Ribhan,” it said. BCorp said the proposal was in line with one of the group’s business activities of solid waste management and treatment solution and technology.

It added that the proposal would not have any material effect on the gearing, net assets and earnings of BCorp for the current financial year ending April 30, 2010.

“However, the proposal is expected to contribute positively to the earnings of BCorp group in the longer term,” it said.

In another development, BCorp’s 49.43%-owned unit Berjaya Holdings (HK) Ltd (BHK) said it was not aware of any reasons for the recent increases in its price and volume on the Stock Exchange of Hong Kong.

In reply to a stock exchange query, BHK said apart from the potential acquisition as disclosed in the announcement dated July 23, it was not aware of any reasons for such increases.

BHK said it was in an advanced stage of negotiations with parties including BCorp in connection with the potential acquisition.

As a cautionary note, it said the potential acquisition may or may not proceed. BHK reminded shareholders and potential investors to exercise caution when dealing in securities of the company.

Wednesday, September 23, 2009

1MALAYSIA. PRINCIPLES NOW!


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By Hakim Joe

It is a sad day indeed when the government and religious organizations start to turn one cheek but forget to turn the other cheek.

Malaysia is after all a multiracial and secular nation. The federal constitution does not state that Muslims cannot do this or that but the government itself is trying to regulate their lives en masse and henceforth affecting the lives of the other one-third population of Malaysia who are not Muslims. (Read article by RPK “Go all the way or no way”athttp://mt.m2day.org/2008/content/view/26055/84/.)

When the government initially (but later rescinded) banned Muslims from attending the concert by Black Eyed Peas at Sunway, what was it trying to say? Shouldn’t it be a case of “going all the way” and not being selective? If that is the case, please consider these six proposals as well.

One. Disengage all Muslims from the evils of alcohol and their related mechanisms. This can be achieved by issuing a law that no Malaysian of the Muslim faith can work in a distillery. Mind you, not only the main complex where alcoholic drinks are being produced but the marketing, administration, bottling, labeling, packing, distribution and retailing as well. We must also not forget the financial sectors that do the financing and the taking of deposits from these breweries and distilleries, the advertising sector, the agricultural sector that produced the malted barley, hops, starch and yeast, and the two most important essentials of all, the utility giant called Jabatan Bekalan Air (or it associated companies) as they provide the most important ingredient of all, water, and Tenaga, because they provide the electricity to run these machines. Let us also not forget the people and companies that provide other services to these breweries and distilleries. The companies that provide the cans and bottles, the packaging companies that makes the paper cartons, the printing companies that prints the labels, the forwarding companies that exports the products etcetera. We should also not forget the mega supermarkets like Tesco, Jaya Jusco, Giant, the Store and what-nots that retails them.

Two. Disengage all Muslims from the evil of Western influence, particularly music from artistes and bands that are “undesirable”. Beyonce, Black Eyed Peas, Metallica, Rihanna, Deep Purple, etc. Now, issue forth a legislation barring Muslims from working in the music industry and especially in western controlled or owned music labels plus companies like radio stations, satellite tv stations (remember MTV?), music stores, recording label companies like Sony, EMI, Warner Music, BMG, RCA, UMG and Polygram, and the associated companies like those that import these music, the transporters, the financial institutions that provide the banking facilities, the recording studios, the packing, printing and labeling companies, the CD or DVD makers, etcetera. Ditto for the supermarkets that retails them and we should also ban Muslims for working in any associated companies like Sony TV or Matsushita TV as these factories provide the medium for broadcasting these undesirable music, and all the Hard Rock Cafes or any place that has live bands (unless they are singing Islamic songs). We should also include the electronics retail outlets that sell them. Additionally, there is the film industry as well.

Three. Disengage all Muslim from working in non-halal conditions. This should include foreign labor of the Islamic faith. Ban Muslims from working in places that serves pork and alcohol, and all the associated (down line) businesses related to them. If a 5-star hotel has a Chinese restaurant, ban Muslim from working in that hotel. If a Japanese or Korean restaurant serves pork, ban Muslims from working there. In fact, make it compulsory that these eateries have a big label on its front door that says that pork and alcohol are being served here. Additionally, enact laws to make it illegal for Muslims to eat here. Pubs and discos are also out of bounds for Muslims. Police the areas in Bangsar, Damansara, Ipoh Garden South and anywhere that has these businesses. Make it a crime for the proprietor to admit anyone of such faith into their premises or even be present near such places (sounds from the western music carries).

Four. Disassociate all Muslim industries from Jewish owned (or controlled) and associated companies (fendyoasis would just love this). Estee Lauder, Time Warner, Disney, Levi’s Jeans, Dreamworks, Viacom, Yahoo, Vidal Sassoon, Oracle, RCA, Calvin Klein, Ralph Lauren (Polo), Citroën, Starbucks, Nickelodeon, Dell, Warner Brothers, CBS, MGM, Universal Studios, Chelsea Football Club (Roman Abramovich is a Jew), Columbia Pictures, eBay, Sun Microsystems, Cisco Systems, BitTorrent, Häagen-Dazs, Toys R Us, Mattel, Olivetti, Chanel, Goldman Sachs, Home Depot, DKNY, Baskin Robbins, Revlon, Facebook, Danone, Touchstone Pictures, ESPN, HBO, Dunkin Doughnuts, CNN, Gucci, Colgate, Bloomberg, Hyatt Hotels, Caterpillar, Timberland, Roche (Novartis), Tesco, Reebok, Real Networks (RealPlayer), AIG, Motorola, Citigroup, Monsanto, L'Oreal, Burger King, Johnson & Johnson, Nike and a whole voluminous list of others. Create a database here in Malaysia that list such companies and make it compulsory that these businesses possess a big label stating that states that their company and products are Jewish, or Jew related and all products labelled accordingly. Enact laws in Parliament to specifically forbid Muslims from working and having anything to do with them and tear down anything Jewish-made that was installed (PDRM would have to be the first to remove their police software system followed by Telekoms with their Cisco routers).

Additionally, disassociate from foreign companies that have the distaste of either hiring Jews as their CEO or has Jews in their board of directors or is actively hiring Jews. These companies include Microsoft, Dassault, Lehmann Brothers, Fiat, Liverpool FC (Yossi Benayoun is a Jew), Portsmouth FC, QPR FC, Birmingham FC, Blackburn FC, Yukos Oil, Reuters, Harley-Davidson, General Dynamics, Max Factor, Manchester United FC (Malcolm Glazer is a Jew), Intel, Sibneft, Wynn Casinos, Ziff Davis (ZDNet) and a whole lot more. Create an “anti-Jewish” government department to monitor and regulate it (with official raids into Muslim homes to check if their children are watching cartoons produced by Dreamworks or Disney, or possess toys sold from Toys R Us or Mattel). I for one propose Hassan Ali to head this department and Fendyoasis as its Chief Enforcer Supremo.

Five. Gambling dens or specifically Genting Highlands. Ban Muslims from that place and assign other race PDRM officers to police it. Same with Berjaya Group (Sports Toto), Multi-Purpose Holdings Bhd (Magnum 4D), Pan Malaysian Pools (Damacai), and the various turf clubs. Make it illegal for Muslims to be associated with these companies or any company that does business with them (including all the mainstream newspapers as they print these results).

Six. Set up special companies that disassociate with the above five where Muslims can work without worries and the products and services offered (by these companies) can be purchased and used without reservations. This would include the entire range comprising of financial institutions, food products, non-food products, electronic products, textile, furniture, books, toys, tobacco, films, etc. Another thing is that these items can only be retailed from “special” shops that once again have nothing to do with the above five.

Malaysia Boleh. 1Malaysia lagi Boleh. Ole…ole…

New hospital open to retail purchasers


But suites can be leased only to doctors meeting hospital's standards

By CHEN HUIFEN

MEDICAL suites at the upcoming Farrer Medical Centre will be open to purchase by retail investors as well, but with a caveat. Investors must understand that the suites can only be leased to doctors and that their choice of tenants have to meet the professional standards demanded by the medical board at the integrated Farrer Park Hospital.

Farrer Medical Centre: With the units ranging from 560 to 1,421 sqft, the suites would cost between $1.7 million and $4.4 million. Demand for the project is expected to come from a mix of both local and foreign doctors

Acknowledging that this limitation may have stifled enthusiasm from retail investors, Maurice Choo, one of the leading doctors behind the project, said it is necessary to ensure that the quality of clinical practice is high.

'If you are a savvy, wise investor, you will know that if I bring in a rotten apple, the whole thing (project) will go down,' said Dr Choo. 'Of course, a short sighted investor will say this is bad for me. But a long term investor will say this is a very, very far-sighted organisation. They want to be sure that every doctor who comes in to this place is of quality, so that the value (of the suites) goes up, including mine.'

Doctors are the primary targets of the Farrer Medical Centre, which is now selling at an average price of $3,100 psf. Still, the project has managed to attract retail and corporate investors who have bought a handful of units during the initial phases of launch, according Dr Choo, a cardiologist who currently practises at Mount Elizabeth Medical Centre.

With the units ranging from 560 to 1,421 sqft, the suites would cost between $1.7 million and $4.4 million. The 99-year tenure started from December 2007. Demand for the project is expected to come from a mix of both local and foreign doctors.

'Because every year, we produce about 300 local doctors,' he added. 'We also have an influx of foreign doctors. Soon, Duke (Duke-NUS Graduate Medical School) will produce 50 doctors. So we are looking at an annual input of 500-600 doctors. Now, the number of suites that are coming on stream are limited.'

When fully completed, Farrer Medical Centre is slated to have 189 suites, more than the 145 offered at Novena Medical Centre, the newest medical centre. Suites there cost between $1,500-$3,300 psf.

Parkway Holdings is planning for an estimated 200 units at its yet-to-be built hospital at Novena Terrace/Irrawaddy Road, which will be up in 2011 - the same year that the Farrer Park Station Road project will be completed. Parkway also runs Mt Elizabeth Hospital, the last private hospital to be built, where suites were transacted at between $4,803 and $5,295 last year.

So far, Farrer Medical Centre has been 45 per cent sold. Although he is not setting any target for the ongoing Phase 2 sale, Dr Choo said the intention is not to sell all suites, in order to leave some flexibility for drawing academia or top surgeons from the world at a later stage.

'If I'm all sold out, how am I going to do that? I will have to kick somebody out. So I must have the financial strength to reserve some of that to cherry pick some of the top medical hands, and eyes in the world to enhance this whole thing. Not just for me but for everybody who is there.

'Let's say, if I draw a top stem cells transplant surgeon in, the stem cell transplant surgeon will draw in patients, who will then refer cases to the lung physician, the X-ray. Everybody benefits. Plus the retail investor.'

Farrer Medical Centre is part of a complex called Connexxion, which also encompasses a hospital and a hotel along Farrer Park Station Road. Dr Choo believes Connexxion will help lift the profile of the area. In particular, the 230-room One Farrer Hotel is designed to suit a wide spectrum of foreign visitors (including non-patients) with accommodation that ranges from the presidential suites to service apartments to standard rooms. It will be run by an external party.

As for the 220-bed hospital, it is set to hire some 300 nurses to support the 11 operating theatres, three day surgery units and inpatient care at the wards. Connexxion is developed by Singapore HealthPartners, which comprises a group of 40 doctors, architect Lim-Tan Suat Hua, Malaysia's Berjaya Group and Wharton Scott of Indonesia.


AmBank a mystery mobile investor

ANZ may be getting out of direct equity investment through its banking business in Australia, but such investments may be a part of managing long-term relationships through its associate in Malaysia.

AmBank, 20 per cent owned by ANZ, has emerged as the owner of a 43 per cent stake in U Mobile, a new telco in Malaysia and operator of the newest third generation mobile phone services in that market.

How AmBank comes to own this stake is a bit of a mystery, though AmBank is a long-term funder of various entities in the Berjaya Group, the Malaysian business conglomerate controlled by Vincent Tan.

AmBank for its part, insists that it has no stake in U Mobile. The bank’s spokesman could not supply any more details on its connections to U Mobile.

The prospective buyer of the stake says AmBank is the vendor.

U Television Sdn Bhd (or U TV) is one of the many companies under the control of Berjaya. U TV already owns 67 per cent of U Mobile.

It appears that about two thirds of the U TV stake in U Mobile has ended up under the control of AmBank, or perhaps will end up under the control of AmBank.

A document filed with Bursa Malaysia (the Malaysian Stock Exchange) on Tuesday by Multi-Purpose Holdings Berhad shows that AmBank has an agreement to sell MPHB a 43 per cent stake in U Mobile any time before 13 October 2010.

MPHB paid AmBank 3.5 million ringgit for this option. The option covers 158 million shares in U Mobile valued at one ringgit each.

This valuation is 31 per cent less than the net assets per share of U Mobile of 1.44 ringgit as at December 2008, according to the MPHB filing.

There is no information on whether AmBank is making a gain or a loss on the potential sale of MPHB, with no information on when, how or under what terms AmBank came to control the stake in the first place.

Two other Asian telcos with small stakes in U Mobile are also selling out of the firm.
Article By: Ian Rogers

Tuesday, September 15, 2009

Sabah's poverty index dips after formation of Malaysia

KOTA KINABALU, Sept 14 (Bernama) -- People in Sabah have experienced marked progress in terms of development and life quality after the state gained independence by joining the Federation to form Malaysia on Sept 16, 1963.

Before, many in the state were living below the poverty line but now the situation has significantly changed with those categorised as poor and hardcore poor have been drastically reduced in their number.

Based on the Mid Term Review of the Ninth Malaysia Plan (9MP), the poverty rate in Sabah has dropped to 16 per cent as compared to 23.0 per cent in 2004.

As for the hardcore poor in the state, their number has declined significantly to 3.7 per cent in 2007 as against 6.5 per cent in 2004.

This marked drop in the poverty rate showed the state government's efforts and determination to resolve issues faced by the people particularly the lower income group who live in the rural areas and interiors of the state.

Hence, it is no surpsrise that the Sabah government expected to completely eradicate the harcore poverty issue by the year 2020.

Sabah Minister for Rural Development Datuk Dr Ewon Ebin talked about this issue in an interview with Bernama journalist Newmond Tibin.

The following is the interview.

BERNAMA: How do you perceive the drop in poverty index before Sabah achieved independence via the creation of Malaysia on Sept 16, 1963 and the period after Merdeka?

DR EWON: If we view the situation in Sabah before Merdeka, the poverty rate then was very high particularly in the rural areas. This was due to several factors.

First, at that time there were no infrastructures that linked an area to another in the rural parts of the state. Second, people in the rural areas resorted to traditional methods when cultivating their land.

The situation now is very much different where the rural areas have excellent facilities. Roads in these areas not only connect villages but also provide access to agriculture land, and this helps to boost the people's economy.

For example my constituency of Kundasang in 1985, people there had to walk for some six hours from a village to another remote settlement as there were no roads then but now there are roads there. The government has also issued various assistance to the people including guidance on how to cultivate the land.

It is the same with education. Before, there were too few rural children who had education and the necessary skills in order to be able to compete in the job market. Now that situation is no more as almost all of the rural areas have schools, either primary or secondary schools. Many of our people are now able to obtain education. It is clear that people in rural areas are more aware on the importance of education now. Apart from that, the existence of power and water supply has added to the comfort of the poor in Sabah.

BERNAMA: How far has the poverty-eradication programme in Sabah succeeded particularly after Barisan Nasional (BN) took over the state's administration in 1994?

DR EWON: The success of this programme is something to be proud of. However there is room for improvement. The state government has implemented various programmes to eradicate poverty since 1994. Among them is the housing programme for the hardcore poor (PPRT). Many of the poor and hardcore poor families have benefitted from this programme. The government has provided assistance in the form of zinc plates for roofing and water tanks for use by the poor families. Subsidies for paddy-planting were also given. I think these assistance have alleviated their problems.

BERNAMA: There were claims that the government was late in acting or not successful in dealing with the poverty issue in Sabah. What can you say about these claims?

DR EWON: I am not agreeable with this perception. The government worked hard to resolve the poverty issue. From time to time, the government is always devising strategies to safeguard the interest of the people particularly those in the rural areas. And at the same time we try to change their mindset for them to accept transformation.

For example during the administration of the Berjaya government, they tried to relocate people who stayed in rural areas to new settlements but many had declined the move to new areas as they were used to their moderate way of life. To them, as long as there were food, salt and vegetables that could be planted near the jungles, then they were comfortable.

That was the reason why the then relocation schemes received poor response and this had retarded the progress of poverty eradication programme in the state. In this context, we try to convince them to change their mindset and cultivate their land with various crops not only to meet their needs but also for commercial reasons, hence improving their status of living.

BERNAMA: Do you agree that the implementation of the New Economic Policy (DEB) (1971-1990) had contributed much to the improvement of life quality for people in Sabah, that helped to push them out of the poverty clutches?

DR EWON: The New Economic Policy is a good government policy and this policy, among else, aimed to reduce poverty via a two-pronged strategy, reducing poverty and restructuring the society in Malaysia including those in Sabah.

There is much difference when comparing the situation before and now. Before the DEB was introduced, many things were dominated by only one group, but after implementaion of the DEB, many Bumiputera including those in Sabah's rural areas had benefitted from this policy that allocated a special quota for the Bumiputera community particularly in the economic sector.

The government, through this policy, is bent on trying to boost production and living status of the poor by modernisation programmes of the rural zones and it is evident that the New Economic Policy had brought significant improvement to people in this country particularly the Bumiputera in Sabah.

BERNAMA: One of the poverty edradication programmes for rural areas is the housing project for the hardcore poor (PPRT). How far is the success of this programme? There were allegations that many villagers who were in need of housing were not given the opportunity to own houses. What is your say on this?

DR EWON: The intention of the government in implementing PPRT is sincere but it cannot be denied that there were some elligible residents who were 'left out'. However we are trying to work out solutions as soon as possible to assist them. The PPRT project received strong support from the federal government and recently the Rural and Regional Development Ministry announced that it will construct 50,000 PPRT houses nationwide and most of these houses will be constructed in Sabah within the next three years.

In my view with the implementation of this housing programme, many poor and hardcore poor people will be able to own more comfortable houses. We implement the PPRT progrmme every year and this year alone we will build 35-50 units of PPRT housing in each district for those who are elligible. We hope in the coming three years more poor people will be provided with the PPRT homes. We have the list of people earning below RM900 a month who should be given the priority in the PPRT programme.

BERNAMA: What is the long-term plan by the state government in dealing with the poverty issue in Sabah?

DR EWON: We admitted that the number of hardcore poor is still high in Sabah, at more than 16,000 people. What we have planned so far is to provide assistance to improve their economy. If we give them houses but no income, then our vision has failed.

That is why the government has introduced several poverty eradication programmes including the agropolitan project. The agropolitan project helps us to assist the harcore poor to develop wide expanse of land with rubber or oil palm cultivation. We provide basic infrastructures like roads, water and electricity supply as well as other facilities like clinics, community halls and places of worship.

According to our plans, apart from the agropolitan project in Banggi, Pitas, Kota Belud and Kemabong, similar projects will also be held in Beluran and Tongod. So is the mini estate project (Mesej) introduced to eradicate hardcore poverty in Sabah, where we will help in creating smaller-scale projects as compared to the agropolitan project to boost the income of those who live in the rural areas below the poverty line.

In terms of implementation, the Sabah government is out to assist the poor regardless of their political affiliation. What is important is that we want to see people in the rural areas to prosper and live well.

BERNAMA: What is the main challenge faced in the implementation of poverty eeradication programme in Sabah?

DR EWON: If we view the implementation of the poverty eradication programme, it appears to be easy but it is actually not as simple as that. For example the agropolitan programme in Pitas, it was planned since 2005 but could not be implemented earlier as there were objections from certain parties that delayed its implementation. This project was supposed to begin with rubber cultivation in 2008. Fortunately the issues were ironed out and this project will be continued.

Apart from the delivery system problem, the delayed tender process caused the late implementation of the project. The same with the fishermen, we encouraged them to diversify their source of income by cultivating seaweed and rearing caged fish. I am confident if all the poverty eradication programmes implemented by the government run smoothly, poverty in Sabah particularly the hardcore poverty will be eradicated by 2020.

BERNAMA: There are certain parties that claimed that the government has not done anything to develop rural areas in Sabah especially after the state achieved independence by joining the Malaysia Federation. What is your comment on this?

DR EWON: These claims are baseless. the government has brought much development in Sabah including its rural areas and will continue to develop the state in accordance with the development in other states. Recently we received an economic stimulus package of RM1.0 billion to implement various development projects mostly in the state's rural areas.

So is the Sabah Development Corridor (SDC) project that comprises various rural development projects. The projects will be implemented, and will greatly benefit the poor in these areas.

The Rural and Regional Development Ministry also allocated RM2.0 billion for the construction of roads in the Sabah rural districts within the next three years. There is the allocation of RM4.0 billion for water supply projects nationwide and that also included projects in Sabah.

There are many more development projects that will be implemented by the government and it is not true that the government has done nothing to develop the state. I hope the Sabah people are not easily swayed and confused by certain parties out to poison their minds.

In conjunction with the Malaysia Day celebration on Sept 16, I call on the Sabah people to remember and commemorate the struggle of our past leaders who placed the strong foundation for the state to progress to achieve excellence. (By Newmond Tibin/ Bernama)

Tuesday, September 8, 2009

BURSA MALAYSIA: Bursa Shares End Higher, FBM KLCI Hit 14-month High

KUALA LUMPUR, Sept 8 (Bernama) -- Share prices on Bursa Malaysia ended higher Tuesday despite some profit taking activities which emerged after recent gains.

Strong fund buying of selected heavyweights also lifted the key index to close at a 14-month high, a dealer said.

At 5pm, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI)ended one per cent or 11.68 points higher at 1,202.07, supported mostly by Sime Darby, Tanjong and IOI Corporation.

The key index opened 0.29 of a point higher at 1,190.68 Tuesday morning.

The FBMEmas advanced 67.27 points to 8,093.82, the FBM Top 100 surged 70.07 points to 7,874.83 and the FBM70 advanced 45.23 points to 7,946.16.

The FBM Ace Index, however, eased 18.83 points to 4,122.55.

The Finance Index climbed 60.16 points to 9,692.36, the Industrial Index gained 43.20 points to 2,650.74 while the Plantation Index jumped 92.34 points to 5,925.23.

Advancers led decliners 393 to 277 while 254 counters were unchanged, 353 untraded and three others were suspended.

The market undertone remained positive with volume amounting to 790.899 million shares valued at RM1.398 billion compared with Monday's 388.725 million shares worth RM627.801 million.

Topping actives, KNM Group edged up half-a-sen to 74 sen, Genting Malaysia advanced three sen to RM2.92 while Genting Singapore (C) gained two sen to 41 sen.

Axiata Group, which received shareholders' approval for its proposed merger with Spice Communications Ltd, gained four sen to RM3.14.

Kumpulan Jetson rose six sen to RM1.34 while its ICULS perked eight sen to RM1.19 following news that Naza brothers had offered to increase its stake in the company to 43 per cent.

The top gainer was Sime Darby which climbed 33 sen to RM8.60 while Berjaya Land-ICULS lost 22 sen to RM3.46.

Among heavyweights, Tanjong surged 24 sen to RM15.90 and IOI Corporation advanced 18 sen to RM5.26.

Maybank gained five sen to RM6.55 and Bumiputra-Commerce advanced 14 sen to RM10.48.

Volume on the main market increased to 687.505 million shares worth RM1.370 billion compared with Monday's 611.084 million shares valued at RM1.047 billion.

However, the ACE market volume declined to 36.731 million shares valued at RM7.037 million versus 42.665 million shares worth RM9.681 million recorded Monday.

Warrants surged to 63.271 million shares worth RM19.272 million from 52.556 million shares valued at RM15.445 million previously.

Consumer products accounted for 43.154 million shares traded on the main market, industrial products 164.085 million, construction 81.349 million, trade and services 207.570 million, technology 18.145 million, infrastructure 18.674 million, finance 61.360 million, hotels 1.630 million, properties 73.547 million, plantations 15.959 million, mining 1,000, REITs 2.011 million and closed/fund 18,000 shares.

-- BERNAMA

Sunday, September 6, 2009

MOL Cup 09 Final at Berjaya Times Square, Malaysia



Posted in General
mol_cup logo
Missed out on the FIFA Online 2 MOL Cup prelims in the past month? Well, it may be too late to take part in the competition now, but you can still check out the finale this Sunday and cheer them on. The 32 finalists will go head-to-head on who will represent Malaysia in the One Asia Cup in Singapore.
Event: MOL Cup 09 Final Place: MOL iCafe, 9th Floor, Berjaya Times Square Date: 6th September 2009 Time: 2 p.m. – 7 p.m.
32 players will compete for over RM 10,000 in cash and prizes. This tournament will also be used to select 6 Malaysian representatives to the inaugural One Asia Cup which will be held in Singapore and feature teams from Singapore, Malaysia, Thailand and Vietnam who will compete for national glory and over US$100,000 in cash and prizes in what will be the region’s biggest e games tournament.
Players will play through a group stage and a best of 3 knock out round before being divided into different tournament trees to decide which bracket they are to represent Malaysia in. 2 players will be chosen to represent Malaysia in the 1 v 1 bracket and 4 players (2 teams) will be chosen for the 2 v 2 bracket.
For more info on the current online ranking, please visit the official MOL Cup Website at: http://info.mycnx.com/microsites/microsite_mol_cup/my_oac.php

Starbucks Enters into Agreement to Establish a Joint Venture in Its Malaysian Operations; Reinforces Partnership between Starbucks and Berjaya Group

KUALA LUMPUR, Malaysia -- Starbucks Coffee International, Inc., a wholly owned subsidiary of Starbucks Coffee Company (Nasdaq:SBUX), today announced that it has entered into an agreement to acquire an equity position in its Malaysian licensee, Berjaya Coffee Company (M) Sdn Bhd. The Malaysian company, which will change its name to Berjaya Starbucks Coffee Company Sdn Bhd as part of the transaction, will now be jointly owned by Starbucks Coffee International and Berjaya Group Berhad.

"In just six short years, Starbucks has emerged as the leading brand of specialty coffee in Malaysia," said Pedro Man, president, Starbucks Coffee Asia Pacific. "We believe that by entering into an agreement to purchase an equity stake in this market will position us to grow the brand further throughout South East Asia. This buy-in is consistent with our long-term international expansion strategy.

"We strongly believe in the potential of Malaysia based on the acceptance of the Starbucks brand in the market," continued Man. "I want to thank Berjaya for introducing the Starbucks brand to Malaysia. As the current market leader in the specialty coffee industry, we have a great opportunity to strengthen our brand presence even more."

"Starbucks has been a great partner," said Francis Lee, a spokesperson for Berjaya Group Bhd. "This increase in equity shows Starbucks long-term commitment to growing the business in Malaysia. Building on the early success we have achieved in the marketplace, we look forward to the opportunities for Starbucks in the coming years."

Starbucks opened its first store in Malaysia on December 17, 1998 at KL Plaza, Jalan Bukit Bintang. To date, there are 49 Starbucks locations in Malaysia: six in Penang, three in Johor Bahru, three in Genting Highlands and one in Kuantan, with the remainder of the stores located throughout the Klang Valley.

This cash purchase is expected to close by July 2004. Following the closing, Starbucks Berjaya Coffee Company will be owned 49.9% by Starbucks Coffee International and 50.1% by Berjaya Group Berhad, and each partner will have equal voting rights in the Company. The specific terms of the agreement were not disclosed.

About Berjaya Coffee Company Sdn Bhd

Berjaya Coffee Company (M) Sdn Bhd is a wholly owned subsidiary of Berjaya Group Berhad, a Malaysian conglomerate with business ventures in consumer marketing, hotel management, property and investment development, financial and gaming and restaurant chains locally and internationally.

About Starbucks Coffee International

Starbucks Coffee International is a wholly owned subsidiary of Starbucks Coffee Company, the leading retailer, roaster and brand of specialty coffee in the world, with more than 8,000 retail locations in North America, Latin America, Europe, the Middle East and the Pacific Rim. The Company is committed to offering the highest quality coffee and the Starbucks Experience while conducting its business in ways that produce social, environmental and economic benefits for communities in which it does business.

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Berjaya Group Berhad

Address: Level 18, Menara Shahzan Insas, 30 Jalan Sultan Ismail 50250 Kuala Lumpur, MalaysiaMalaysiaFISCAL YEAR-END: April
PHONE: +60-3-935-88881998 Revenues: $1,921.3
FAX: +60-3-241-57191998 Net Income:
WEB SITE:http://www.berjaya.com.my# EMPLOYEES: 22,000
Key People:
CEO: Tan Sri Dato' Seri Vincent
C. Y. Tan
COMPANY TYPE: Public
EXCHANGE: Kuala Lumpur

Background Information

The Berjaya Group is a major public-listed Malaysian conglomerate with an annual turnover in excess of RM7.4 billion . Through the entrepreneurial leadership of its Chairman/CEO, Tan Sri Dato' Seri Vincent Tan Chee Yioun, the Group has been transformed into a diversified entity through partnerships, acquisitions, joint-ventures and new start-ups. Today, with a total employee strength of over 22,000, the Group is engaged in the following core activities:

  • Gaming & Lottery Management
  • Financial Services
  • Consumer Marketing and Direct Selling
  • Vacation Time-share, Hotels, Resorts & Recreation Development
  • Property Investment & Development

Berjaya Group's diversified interests extend to the international arena. The group believes in developing business alliances to accelerate growth and create business opportunities.
Sports Toto, the sole national lotto operator with over 680 outlets, offers a choice of seven different games. These fall into two categories viz digit type (4-D, 5-D, 6-D) and lotto type games (4/49, Super 6/49 Jackpot, 6/42 Jackpot). Since privatisation in 1985, the turnover of Sports Toto has increased from RM76 million to RM2.2 billion in 1998 through the upgrading of its computer facilities, efficient management, and dynamic promotional and advertising campaigns. The company also contributes 10% of its pre-tax profits to the National Sports Council and sponsors selected sporting events and community services annually in response to the Government's call for a caring society.
On the international scene, the Group is supplying and maintaining a computerised on-line lottery system in the Luzon Region in the Philippines and appointed as a consultant cum project manager to restructure and improve the operation and administration of the
Department of National Lotteries in Ghana.

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Berjaya Corporation Berhad


6 September 2009

The history of Berjaya Corporation dates back to 1984 when the Chairman/Chief Executive Officer, Tan Sri Dato’ Seri Vincent Tan Chee Yioun acquired a major controlling stake in the share capital of Berjaya Kawat Berhad from the founders, Broken Hill Proprietary Ltd, Australia and National Iron & Steel Mills, Singapore. The shareholding change also resulted in a major change in the business, direction and the dynamic growth of a diversified conglomerate under the flagship of Berjaya Corporation Berhad.

Today, Berjaya Corporation is a major Malaysian conglomerate with an annual revenue of RM3.5 billion. Through a series of acquisitions, organic growth and the entrepreneurial leadership of Tan Sri Dato' Seri Vincent Tan, Berjaya Corporation today has a total employee strength of over 16,000, and is engaged in the following core activities:
Financial Services
Consumer Marketing, Direct Selling & Retailing
Vacation Time-Share, Travel, Hotels & Resorts Development & Management
Recreation Development and Management
Property Investment & Development
Gaming & Lottery Management
Food & Beverages
Industrial
Education
Investment Holding & Others

Main companies under Berjaya Corporation listed on Bursa Malaysia Securities Berhad are:
Berjaya Land Berhad
Berjaya Sports Toto Berhad
Berjaya Media Berhad (fka Nexnews Berhad)
Matrix International Berhad

Berjaya Corporation Berhad assumed the listing status of Berjaya Group Berhad on the main board of Bursa Securities upon the completion of the Group restructuring exercise, in October 2005 and the listing of the new shares on 3 January 2006.





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