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Sir Martin Sorrell, head of WPP Group Plc, was in Kuala Lumpur on Tuesday as part of a three-week visit to Asia. How he bought over Wire and Plastics Products (WPP), a maker of wire shopping carts, 18 years ago and turned it into the world's largest advertising and market services group is now textbook stuff taught in business schools. After doing a video conference with analysts in London on the group's third quarter results, Sir Martin sat down with WONG SULONG for an interview.
THE country's smooth leadership transition and the listing of Astro All Asia Networks plc next week could set the stage for another stock market surge similar to the one seen two weeks ago.
The domestic institutional tranche of Astro All Asia Networks plc's initial public offering (IPO) is believed to be 15 times oversubscribed, with the bulk of the applications bidding at the higher end of the price range.
US investment banks Morgan Stanley and Lehman Brothers Holdings Inc have reported third-quarter profits that were more than double those a year ago, while earnings at rival Goldman Sachs Group Inc increased more modestly as revenue from bond trading fell sharply.