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Business

Philippines to sell 12 power plants by June

The Philippines plans to sell by June a dozen power plants owned by National Power Corp (Napocor), kicking off a state asset sale programme expected to raise US$4bil to US$5bil to reduce a gaping budget deficit.

Business

MASkargo to expand capacity

MALAYSIA Airlines Cargo Sdn Bhd (MASkargo) hopes to expand its warehouse capacity to one million tonnes by the end of this year compared with 660,000 tonnes last year, said general manager for cargo operation Mohd Yunus Idris.

Business

Ratings

MALAYSIAN Rating Corp Bhd (MARC) has reaffirmed the ratings of MALAYSIA INTERNATIONAL SHIPPING CORP BHD's (MISC) RM1.5bil I>Murabahah/Icommercial paper/medium term notes issuance facility (2000/2005) at I>MARC-1ID/AAAID/I>.

Business

News in brief

News briefs on GHL Systems, Transmile, Linkaran Trans Kota and Pembagunan Leasing.

Business

MD: Bank Rakyat sees RM400m profit for FY 2003

BANK KERJASAMA Rakyat Malaysia Bhd is anticipating pre-tax profits of some RM400mil for its financial year ended December 2003, said managing director Alim Ariffin said.

Business

US$2bil MAS deal beckons Airbus

IT cannot be purely by chance that Airbus is getting a lot of attention from Asian airlines these days. Fresh from signing for six A380s in a deal worth US$1.6bil with Penerbangan Malaysia Bhd (PMB) last December, another opportunity surfaced on Tuesday when national carrier Malaysia Airlines (MAS) announced plans to upgrade its Boeing 737 fleet.

Business

StanChart M’sia moving to new HQ in August

STANDARD Chartered Bank Malaysia Bhd will be relocating its corporate headquarters from its current 2, Jalan Ampang site in Kuala Lumpur, where it had been operating for the past 40 years, to a Jalan Sultan Ismail location in the city#146;s golden triangle in August.

Business

SALE expects flat earnings despite pick-up in industry

SINGAPORE Airlines associate Singapore Aircraft Leasing Enterprise (SALE) expects to post relatively flat earnings for the year to March 2004, despite a pick-up in the global aviation industry.

Nation

Land lease syndicate cons couple of RM114,000

A syndicate running a land lease scam involving ventures to build telecommunication towers has claimed more victims with a couple being conned out of RM114,000.

Business

500 to meet at Pureinvestor.Com convention

LABUAN-BASED Pureinvestor.Com Inc is expecting 500 of its members from 72 countries to participate in Pureinvestor Members Convention from Feb 24 to 29 in Langkawi.