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Pharmaniaga to seek more accreditations

PHARMANIAGA Bhd will be seeking accreditation with more local and international standards institutions in order to further tap the Malaysian and international markets even as it consolidates its position in the pharmaceuticals industry.

Foreign business briefs

Foreign business news in brief including from Beijing that BASF AG has secured limited recourse financing worth US$1.4bil from a consortium of banks jointly led by Industrial and Commercial Bank of China and Citibank for BASF-YPC Co Ltd, the German company's US$2.9bil joint venture with China Petroleum Chemical Corp.

Household penetration for milk in Malaysia lowest in Asia

ASIANS are consuming more milk and other dairy products than before, but Malaysia ranks among the lowest in consumption in terms of household penetration.

Main focus on underwriting profits aids OAC

TRADITIONAL focus on underwriting profits more than anything else has helped general insurer Overseas Assurance Corp (M) Bhd (OAC) attain satisfactory results that look set to improve considerably in the coming years.

Resort adds 5-star facilities

LANGKAWI Lagoon Resort will be expanding its facilities to offer more five-star amenities, including a spa and retail shops over the sea, to position itself as the premier resort in Langkawi.

PLUS on a steady path

PLUS Expressways Bhd has indeed come a long way. But one thing has remained certain through the wild swings of the economy, the rise and fall of its parent United Engineers (M) Bhd that led to its own indebtedness and change of control - it has always been a prized asset.

Smooth shift to chips augurs well for Sitt Tatt

SITT Tatt Bhd, which is changing its core operation from industrial gas, is expected to make a smooth transition into the semiconductor business and reap the benefits from the expected strong rebound in the chip market in the 2nd quarter of this year.

New health drink from Wetra

NUTRITIONAL drinks producer Wetra Food Industry Sdn Bhd has introduced a new chocolate-based health drink called I>Wetro./I>


RATING Agency Malaysia Bhd (RAM) has downgraded the long-term rating of B>FACB RESORTS BHD'S/BRM420mil zero coupon redeemable secured bonds to I>B1(s)/Ifrom I>BB3(s)/I>.

KPN posts record net loss but sees progress

Dutch telecoms group KPN reported yesterday a record 2002 net loss of 9.54 billion euros, but posted a robust core profit that underlined its strong operational performance last year.