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Letters

Shock and concern over rejected offer

BY SEAH CHIANG NEE

Nation

Single track for Penang Hill railway system

The Penang Hill funicular railway system will be upgraded into a single track soon under a RM30mil redevelopment project, Deputy Chief Minister Datuk Dr Hilmi Yahaya said.

Lifestyle

Drawing the generous

An RM50 #8216;investment#8217; for an RM500,000 Porsche sports car has been the talk of the town, reports LI EE KEE.

Business

Sumatec awarded two Sarawak projects worth RM139m

SUMATEC Resources Bhd has been awarded two contracts worth a total of RM139mil for work in Bintulu, Sarawak, increasing the value of its projects in hand to more than RM415mil.

Nation

Seized luxury cars fill up Customs warehouses

THE warehouses of the Customs Department - used to store confiscated luxury cars - are running out of space as such vehicles have become the topmost target of smugglers, said a report in I>Utusan Malaysia/I>.

Nation

Incentives galore including RM215m to boost tourism

THE tourism sector got a big boost in the Budget 2004 estimates where hotel and tourism project operators will receive pioneer status and investment tax allowance up to 100%.

Business

Two-year contract extension for Petra Resources

PETRA Perdana Bhd's wholly-owned subsidiary Petra Resources Sdn Bhd has accepted ExxonMobil Exploration and Production Malaysia Inc (EMEPMI)'s offer for extension of the retrofits and host tie-in contract for two years.

Business

Continuing investment in ICT sector R&D

Top priorities for Budget 2004 on fiscal policy should include continuous development, upgrading and investment in infrastructure, continued investment in research and development (RD) for the ICT industry, and encouragement of foreign direct investment, says Mark Stevens, Nortel Networks vice-president, Asean/Pakistan.

Other Sport

Joint bid by Libya, Tunisia

Libya and Tunisia launched a joint bid on Friday to co-host the 2010 football World Cup, due to be held in Africa for the first time.

Business

Meeting to improve fund management practices

The Malaysian Association of Asset Managers (MAAM), other Malaysian licensed fund managers and the Securities Commission (SC) recently met to review suggestions and comments on the possibility of upgrading existing industry practices, regulations and guidelines in the local fund management industry to prevent or lessen the chances of breaches of securities laws.