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Proton posts Q3 loss on Lotus branding costs

PETALING JAYA: Proton Holdings Bhd recorded a net loss of RM60.1mil for its third quarter ended Dec 31 compared with a net profit of RM79.68mil a year earlier due mainly to higher branding costs and restructuring expenses incurred by its sports car division, Lotus Group International Ltd.

CIMB posts record net profit of RM3.5bil

KUALA LUMPUR: CIMB Group Holdings Bhd recorded a 9.3% increase in net profit to RM878mil for its fourth quarter to Dec 31, 2010 on the back of strong corporate and investment banking activities and improving operations from its 97.7% owned unit, PT Bank CIMB Niaga Tbk.

MAS net profit down on higher fuel costs

PETALING JAYA: Malaysia Airlines (MAS) net profit fell by 65% to RM226mil for the fourth quarter ended Dec 31, 2010 from RM640mil a year earlier due to higher cost of fuel despite carrying more passengers during the quarter.

YTL Corp posts lower Q2 profit

PETALING JAYA: YTL Corp Bhd registered a net profit of RM164.2mil for its second quarter ended Dec 31, 2010, 24.1% lower than a year ago, mainly due to lower profit recognition on the group’s offshore property development activities and higher operating cost recorded by foreign subsidiaries.

Investment gains boost TM net profit

KUALA LUMPUR: Telekom Malaysia Bhd (TM) saw its fourth quarter ended Dec 31, 2010 net profit more than double to RM400.63mil from RM170.25 a year ago due to higher revenue and investment gains made by the disposal of shares.

Your 10 questions with Gianfranco Zola

Gianfranco Zola fields the 10 questions posed by our readers.

Up close and personal with Mary Robinson

Ireland’s first woman President between 1990 and 1997 tells what climate justice and human rights are all about.

Selangor unlikely to compensate Puncak

PETALING JAYA: The Selangor government, which owes water concessionaire Puncak Niaga Holdings Bhd RM853mil for the delay in water tariff compensation, is unlikely to pay the company, especially since the relationship between the two is strained.

Higher toll collection boosts PLUS earnings

PETALING JAYA: Plus Expressways Bhd, the operator of the North-South Expressway, posted a 7.23% gain in net profit to RM337.80mil for the quarter ended Dec 31, 2010 compared with a year ago due to a 6.6% increase to RM42mil in toll collection.

Bursa appoints Tajuddin Atan as new CEO

PETALING JAYA: Bursa Malaysia Bhd has appointed Datuk Tajuddin Atan as the new chief executive officer of the company effective April 1.

News

DRB-HICOM profit rises to RM110mil

PETALING JAYA: DRB-HICOM Bhd’s net profit for its third quarter ended Dec 31, 2010 rose to RM110.10mil from RM103.53mil a year earlier due to the better performance of operating companies within the group and the recognition of negative goodwill (amounting to RM71.22mil) arising from accretion of equity interest in Edaran Otomobil National Bhd from 79.05% to 100%.

CEO: Prince Court to be profitable by 2013

PETALING JAYA: Private hospital Prince Court Medical Centre (Prince Court) is expected to be profitable by 2013, said chief executive officer Stuart JV Pack.

Boustead net profit up on all-round growth

PETALING JAYA: Boustead Holdings Bhd, which is involved in a variety of businesses including heavy industries, plantations and banking, recorded a 41.43% jump in net profit to RM208.90mil for the fourth quarter ended Dec 31, 2010 compared with the previous corresponding quarter a supported by strong earnings growth across all divisions.

Cover feature

Drilling for future opportunities

For the first time local oil and gas players have a chance to play a major role in the production and development of marginal oil fields. However there are risks involved. Will the local companies step up to the challenge?

Petrofac explains key performance indicators

IN an e-mail response to StarBizWeek, London-listed Petrofac Ltd group of companies elaborates on the key performance indicators (KPIs) used under the risk-service contract (RSC) for the Berantai marginal oil field development.

Mokhzani: Kencana’s committed to the project

In an interview with StarBizWeek, Datuk Mokhzani Mahathir elaborates on the recent development and his take on the risk-service contract (RSC) awarded by Petronas. Below, excerpts of the interview.

SapuraCrest willing to take the risk

FOR SapuraCrest Petroleum Bhd executive vice-chairman Datuk Shahril Shamsuddin, who turns 50 this year, he has an added reason to celebrate – his company, together with Kencana Petroleum Bhd and foreign partner Petrofac have recently bagged a US$800mil contract by Petronas to develop a marginal oil field, the first of its kind ever awarded in Malaysia.

Potential beneficiaries

THE plan to develop the country’s marginal oil fields to ramp up production, further motivated by rising oil prices, has gained momentum. While foreign players will continue to play a significant role in the development of these fields, one key aspect is that at least 30% equity participation in the consortium involve local players.

Corporate Responsibility Awards

Past winners to share winning strategies

PETALING JAYA: In conjunction with the StarBiz-ICRM Corporate Responsibility Awards 2010, StarBiz – together with partner Institute of Corporate Responsibility Malaysia (ICR Malaysia) – will be organising a dialogue session on corporate responsibility in the workplace.

Economy

Heat on oil prices

Amid the increasing pressure on global crude oil prices, Domestic Trade, Cooperatives and Consumerism Minister Datuk Ismail Sabri Yaakob has attempted to pacify Malaysians by assuring them that the Government was weighing all options to avoid increasing the prices of fuel – specifically RON95 – which is the lower range of petrol and diesel.

Companies & Strategies

TM reinvents mobile strategy

THE landscape in the country’s telecommunications sector is changing ever so rapidly which has led many telco players to re-invent themselves and reverse their strategies to stay competitive.

Stocks

Market tracks event in Mideast

MARKET TREND - By K.M. LEE

Eye on stock

BORNEO Oil Bhd

Books

Complex future world

Author George Friedman proclaims, “The world will be more a complex and dangerous place during the next 10 years.”

Snapshots

Reviews by THEAN LEE CHENG

Foreign News

Huawei challenges US to launch probe

NEW YORK: China’s Huawei Technologies Co has challenged the United States to launch a formal investigation into its business, in an attempt by one of the world’s largest telecommunications equipment makers to clear its name from allegations that have blocked US deals.

Land & Property

It’s a small, small world

Angie Ng says rapid globalisation which increases cross-border transactions, pushing up property prices.

MRT and real estate: A union on the right track

Abdul Rahim Rahman tells of how the building of the MRT can impact on property values.

Building Asian cities in a sustainable way

THE future of Asia is in its cities. It is the cities and the activities generated therein that will help the continent march forward.

Billings & Advertising

Krakatua plans to cash in on digital eruption

UNLIKE some other medium sized advertising agencies which are contented with their existing scope of businesses, Krakatua Sdn Bhd is constantly looking to expand its range of services to meet clients’ growing and fast-changing needs.

OMD scores a nine

Media marketing specialists OMD has been awarded a score of nine out of 10 for the fourth consecutive year for their performance in 2010 in the annual Campaign Asia, Agency Report Card rankings.