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SINCE the fourth quarter of 2003, many analysts have been very bullish about the prospect of the Malaysian economy. As a rosy economy would translate into better corporate earnings, it is unsurprising that both local and international investors have been increasingly upbeat in the equity market.
SEMICONDUCTOR stocks like Malaysian Pacific Industries Bhd (MPI) and Unisem (M) Bhd rose slightly yesterday, but analysts said the gains were attributed to the KL Composite Index adding 12.9 points which helped improve sentiments, while the global chip sales data released by an international trade group last Friday had minimal impact.
GLOBETRONICS Technology Bhd is currently working out a budget of at least RM20mil for additional machinery for its operations in Penang and China. Executive chairman Michael K.C. Ng told reporters after the company's AGM in Penang yesterday that the budget was necessary in view of the business outlook in the third and fourth quarters of the year.
MULTINATIONAL corporations (MNCs) and their supporting industries in Penang are expanding research and development (RD) operations and hiring more engineers.
GLOBETRONICS Technology Bhd is allocating some RM10mil to expand its operations in Jiaxing, China, this year, of which about RM6mil would be used to buy machinery.
News briefs on: EON, Putera Capital, IFCA MSC, Yong Tai, MWE Holdings, Globetronics, Utama Banking, Industronics, Bursa Malaysia, Paramount Corp, Chin Teck and Astro Alll Asia.
PENANG-BASED companies could be some of the biggest winners in the faster economic growth forecast for Malaysia this year.
News briefs on AIC Corp, Public Bank and Globetronics.
THE broad-based recovery of the global semiconductor industry is gaining strength. This, industry players say, would soon be reflected in the earnings of local chipmakers, which have ramped up production to meet increased orders.
AS the largest recipient of foreign direct investment (FDI), overtaking the electronics and electrical sector (EE), the oil and gas industry is expected to continue to sparkle this year on the back of rising oil reserves.