News in brief

  • Business
  • Saturday, 01 Mar 2003

  • IJM Corp Bhd said 2002 sales rose to RM1.295bil from RM857.391mil in 2001 due to better performance from its construction, property and plantations divisions. 

    However, net profit declined to RM120.201mil in 2002 from RM168.998mil previously as the company recorded exceptional gains in 2001, arising from partial disposal of an associate company amounting to RM122mil and impairment of investment in an associate amounting to RM47mil, the company said. 

    Going forward, the company expects a good operating performance in 2003 on the back of its strong order book and expectation of favourable crude palm oil prices. – AFX 

  • Warisan TC Holdings Bhd said its 2002 net profit declined 33% to RM19.725mil because of the weak consumer retail market which affected its consumer product and travel and car rental divisions. 

    Sales for the year amounted to RM235.46mil as opposed to RM229.998mil in 2001 while pre-tax profit was down at RM27.441mil from RM36.324mil at end 2001. 

    On outlook, the company said a pick-up in the Malaysian domestic economic activities is expected to augur well for the consumer product division’s performance. 

    With the government’s efforts to pump-prime the economy in the construction sector as well as its initiatives to boost the domestic economy through public sector development, the machinery division is expected to grow positively in 2003, it added. 

    The company said the travel and car rental division, which relies largely on in-bound tourists, will face challenging prospects in 2003 with uncertainty arising from current war tensions and geopolitical issues. – AFX  

  • QATAR Airways will be flying daily to the KL International Airport (KLIA) from March 31, Malaysia Airports Holdings Bhd said. 

    Qatar Airways flies to the KLIA on Mondays, Wednesdays, Fridays and Saturdays, plying the Doha-KLIA-Jakarta-KLIA-Doha route using the Airbus A300-600 aircraft. 

    The airline will also set a milestone by flying direct to Kathmandu, Nepal, 3 times weekly on Wednesdays, Thursdays and Sundays from April 3, Malaysia Airports said. 

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