TM’s UniFi ups ante on broadband competition - The Edge

KUALA LUMPUR: Broadband providers throughout the nation, and one television broadcaster, will have to keep a careful eye on their market share after TELEKOM MALAYSIA BHD [] (TM) on Thursday, March 25, announced a highly competitive pricing scheme for its new high-speed broadband retail offering, also known as UniFi.

At RM149 per month for the entry level retail plan, VIP 5, subscribers will receive up to a five megabit per second (mbps) transfer rate. At that speed, a typical song file of about five megabytes in size will take, on paper, eight seconds to transfer.

The next plan, VIP 10, subscribers will see a connection speed of 10 mbps for RM199, while the premium plan, VIP 20, will provide subscribers with a speed of 20 mbps for RM249.

While critics would argue that TM’s high speed service will only be available in Zone 1 areas, that is, areas of high economic impact, TM’s CEO Datuk Zamzamzairani Mohd Isa announced yesterday at a press briefing that it would also lower the price for its fastest StreamyX broadband plan.

The latter falls under TM’s broadband for the general populace (BBGP), which is TM’s broadband offering in areas falling into the Zone 2 category.

“Obviously, we need to adjust the pricing for the 4mbps plan on Streamyx. Today, we have the combo package available at RM160, (but) with immediate effect, we will reduce it to RM140,” Zamzamzairani said.

The pricing of the plans came after the launch of the National Broadband Initiative and the National High Speed Broadband Project by Prime Minister Datuk Seri Najib Razak on Wednesday night. TM’s UniFi service will be available in Taman Tun Dr Ismail, Bangsar, Subang Jaya and Shah Alam in its first phase of deployment.

[More at http://www.theedgemalaysia.com/business-news/162404-tms-unifi-ups-ante-on-broadband-competition.html]

Malaysia's Petronas to open books to public: report - Reuters

KUALA LUMPUR (AFP) - Malaysia's state oil company Petronas will open its books to the public after a decision to hike fuel prices by more than 40 percent set off days of protests, news reports said on Monday.

The reports come with a major opposition party still calling for as many as 100,000 people to take to the streets at a rally early next month amid growing anger over the cost of fuel in Malaysia, which is heavily state subsidised.

Nor Mohammed Yakcop, the country's second finance minister, told the New Straits Times newspaper that Petronas could open its ledgers to the public as soon as next week as the government looks at cutting the fuel subsidy.

"As a government that is entrusted by the people, we have to make sure our revenues are spent prudently," he said.

The government has forecast that unless subsidies are restructured, it will spend around 10 billion ringgit (3.1 billion dollars) in the second half of 2008 in the face of a global surge in oil prices .

But Nor Mohammed brushed off calls to use the Petronas revenues to finance the subsidy.

[More at http://asia.news.yahoo.com/080616/afp/080616064302business.html]

Malaysia's Economy Strong And Flexible Enough To Face Global Slowdown - Bernama

KUALA LUMPUR, May 7 (Bernama) -- Malaysia's economic standing is strong and flexible enough to face an uncertain growth in the world economy following the subprime loan crisis in the US, a weakening dollar as well as inflationary pressure and increasing crude oil price, Second Finance Minister Tan Sri Nor Mohamed Yakcop said.

"Although the prospects of a slowdown in world economic growth will pose a risk to Malaysia's economic growth, its strong foundation is expected to contribute to its resilience and reduce the risks posed by the global challenges," he said during the Question and Answer session at the Parliament on Wednesday.

The minister was replying to a question from Alexander Nanta Linggi (BN-Kapit) who had asked on Malaysia's economic situation against the current world economy where the US dollar has depreciated, the price of crude oil has gone up and the Euro currency has appreciated.

Malaysia has projected a six percent economic growth for this year. Last year, the country's Gross Domestic Product grew by 6.3 percent.

Nor Mohamed said Malaysia's economic strength was in its flexibility.

"The manufacturing sector continued to show progress in increasing its value added chain, while the services sector has become an important contributor to the economic growth," he said, adding that the services sector had also expanded at a higher rate compared with the overall economic growth.

[More at http://www.bernama.com.my/bernama/v3/news_business.php?id=331270]

Penang Misses RM1 Billion Investment Due To Lack Of Gas Supply - Bernama

PENANG, May 2 (Bernama) -- The Penang state government claimed today that it had missed a new investment worth RM1 billion in the high-technology industry as the gas pipe built across the Seberang Perai district was not functioning.

Chief Minister Lim Guan Eng said although the gas pipe erected by Petronas from Kuala Lumpur across Seberang Perai Selatan, Tengah and Utara had been completed, no gas was supplied.

He said this had affected the state government's efforts in wooing investment from a German company in the use of solar technology to generate power.

About two weeks ago, the company had expressed interest to invest in the state if there was adequate gas supply, he told reporters after the swearing-in ceremony for the State Assembly Speaker, Deputy Speaker and 40 State Assemblymen, here.

"I don't understand why the gas pipe which had been erected could not supply the gas until now whereas Malaysia is one of the gas exporting countries. This is something that we can't accept.

"This hinders our efforts to attract investment in the high-tech industry and as such, we lost a potential investment of almost RM1 billion," Lim said.

As it was a federal project, he wanted clarification to be given on the matter, especially by Petronas itself.

[More at http://www.bernama.com.my/bernama/v3/news.php?id=330436]

Naza Group founder Nasimuddin dies - The Star

PETALING JAYA: Tan Sri S.M. Nasimuddin S.M. Amin, founder, chairman and chief executive officer of the Naza Group, passed away of lung cancer in California at 1.15am (Malaysian time). He was 54 years old.

The low-profile businessman founded the Naza Group in 1974, starting his automobile business with an allocation of Approved Permits (APs) to import foreign cars.

He made his first million in about a year.

The Group now has 14 business divisions covering industries such as cigarette distribution, credit and leasing, engineering, hotels, insurance, machine tools and parts, manufacturing, motorcycles, property, transport services, plantations and water craft.

Last month it ventured into the food business by launching the Bubba Gump Shrimp Co. Restaurant and Market, but still remains most known for its automotive business, holding the local franchise for South Korea's Kia and France's Peugeot, as well as import permits for Mercedes Benz and Mazda.

Nasimuddin was implicated in the AP controversy of 2005, when he was dubbed the "AP King."

[More at http://thestar.com.my/news/story.asp?file=/2008/5/2/nation/20080502094328&sec=nation]

Proton to recall Savvy cars - The Star

PETALING JAYA: Proton is recalling 34,000 Proton Savvy cars following a possible wheel bearing problem.

It said in a statement that the problem was brought to its attention during a regular random check, which found the possibility of water entering the rear wheel bearing.

This could lead to a malfunction of the affected components, with loosening of the wheel as the worst-case scenario.

The national carmaker has advised all Savvy owners to immediately take their vehicles to the nearest Proton Edar or EON service branch for inspection.

Checks will be conducted and replacement parts installed (if required) free of charge.

[More at http://thestar.com.my/news/story.asp?file=/2008/4/1/nation/20808045&sec=nation]

PKFZ, Johor Crimes Among Issues Raised At Dialogue With Rafidah - Bernama

SINGAPORE, Aug 28 (Bernama) -- The annual seminar on business opportunities in Malaysia took place in Singapore today, attended by some 1,000 members of the Singapore business community as well as representatives of state governments and agencies in Malaysia.

As was the case in the past, the participants took full advantage of the opportunity to shoot questions at International Trade and Industry Minister Datuk Seri Rafidah Aziz in a no-holds barred style.

A participant, for instance, spoke of the backlog of pending cases in courts which he said could affect confidence among investors who want speedy settlement in the event of commercial disputes, citing his bad experience in Penang involving a piece of land for development.

Rafidah said the government is equally concerned of matters that could affect investor confidence, hence the decision to set up Pemudah, a special task force to find ways to facilitate business in Malaysia.

"But this is not the norm, but if you are the aggrieved party, you don't care whether this is a norm or not, you just want your problem settled," she said, adding that she would raise the matter with the Cabinet.

She also pointed out that land matters are under the jurisdiction of state governments but assured the business community that they too are committed to ensuring that bureaucratic processes are minimised.

Another participant questioned Malaysia's concern over pollution since the matter was not mentioned in Rafidah's keynote address earlier, but she assured that Malaysia is indeed concerned about the environment, saying:

"Environment is very important to Malaysia. We want to make sure that we have enough forest cover to make sure the environment is not spoilt, but cultural habits also contribute to pollution."

There was also a question about "problems" relating to Port Klang but Rafidah said she was not aware of it.

"I don't think you are talking about Port Klang but about the Port Klang Free Zone (PKFZ)," she said.

"The problem is not with the port. It's the development of a free zone. These are all commercial ventures and the government is now looking at it ... there was some financial escalation."

[More at http://www.bernama.com.my/bernama/v3/news_business.php?id=281788]

Selangor Continues To Be Top Choice Among Investors - Bernama

By Yong Soo Heong

KLANG, Jan 19 (Bernama) -- Back in the 1960s when Malaysia embarked upon its import substitution policy, Selangor was a logical choice among investors because of its relatively advanced infrastructure with the country's premier airport and shipping port located in the state.

Today, the story is again no different for Selangor in terms of infrastructure facilities as the country's leading airport at Sepang (KLIA) and main shipping port of Port Klang are located in the state.

Port Klang interestingly has two privatised entities managing the port facilities, Northport and Westports.

A new attraction at Port Klang is the Port Klang Free Zone, an area comprising some 400 hectares, designed to promote entreport trade and manufacturing industries primarily for export.

All these facilities have helped Selangor to become an attractive manufacturing hub despite economic development in other parts of the country.

Besides the prevalence of top infrastructure facilities, the many international schools catering for the children of expatriate employees in Ampang, Ulu Klang, Sungai Buloh, Seri Kembangan, Cheras, Petaling Jaya and Subang (all in Selangor) are also major contributory factors in drawing investors to the state.

[More at http://www.bernama.com.my/bernama/v3/news_business.php?id=242177]

Govt Announces NAP Framework To Make M'sia Regional Automotive Hub - Bernama

By Yong Soo Heong

PUTRAJAYA, Oct 20 (Bernama) -- The government, Wednesday announced its National Automotive Policy Framework aimed at making Malaysia a regional hub for the manufacturing, assembly and distribution of automotive vehicles and to promote a competitive and viable automotive sector in the country, in particular national car manufacturers.

Ten immediate measures are set for implementation in the framework ahead of the announcement of the NAP, which would be in one to three months, following a study now being conducted, government officials familiar with the NAP framework told a media briefing, here Wednesday.

Among the much-awaited measures is the long-term phasing out of Approved Permits (APs), allowing Bumi-controlled public-listed companies to apply directly for APs and exempting these companies from the 70 percent Bumi shareholding requirement for franchise APs.

The government also said that exclusive franchise holders such as DRB-Hicom and Sime Darby -- which are exclusive franchise holders of certain vehicle brands, can import vehicles directly, rather than through intermediaries.

Besides streamlining the procedures for APs for the importation of cars into the country, the NAP framework provides for a slew of customised incentives even for non-national car manufacturers.

This means that any car manufacturer will be accorded the incentives after due consideration and evaluation as they would be tailor-made to meet the specific needs of an investor.

[More at http://www.bernama.com.my/bernama/v3/news.php?id=161381]