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Posted: 12 Jul 2011 07:34 PM PDT

Lynas plans next phase of Kuantan plant

MELBOURNE: Rare earths supplier, Lynas Corporation Ltd's Malaysian subsidiary, will spend up to US$210 million on the second phase of construction of the planned refinery plant in Kuantan, Pahang.

The Australian Associated Press (AAP) reported that Lynas Malaysia had signed a letter of award with Thai engineering company, Toyo-Thai Corporation, for the second phase of work on the Lynas advanced materials plant at the Gebeng Industrial Estate in Kuantan.

The letter of award is for a fixed lump-sum price of between US$180 million and US$210 million.

Subject to the receipt of approvals, construction is scheduled for completion in the last three months of 2012.

Completion of the first phase of the advanced materials plant is expected by the end of the year, AAP said.

Earlier this month Lynas shares plunged because of media reports the plant could be delayed by one to two years.

Lynas denied the reports.

The company mines 15 metallic elements which are used in electronics, computers and many green electrical products.

The plant in Malaysia is being built to process ore concentrate from Lynas's rare earths deposit at Mount Weld in Western Australia. -- BERNAMA

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We’re sensitive to price increases

Posted: 12 Jul 2011 05:37 PM PDT

We're sensitive to price increases

2011/07/13
By Cheryll Yvonne Achu
news@nst.com.my

PETALING JAYA: Malaysians are the most price-sensitive shoppers in Southeast Asia, said a survey that also puts them tops in Asia-Pacific when it comes to looking for sales.

As inflation shows no signs of slowing down, Malaysians are becoming more conscious of price increases.

Nielsen Malaysia associate director of retail measurement services Teoh Choon Keat said: "In an inflationary environment, shoppers are exercising more caution when it comes to spending on household items." The Nielsen Shopper Trends Survey shows that Malaysian shoppers are the second most prolific buyers in Asia-Pacific after those in Vietnam.

"The survey found that 65 per cent of Malaysian shoppers actively search for promotions while shopping ," Teoh said, adding that sales continued to be the key driver of store traffic.

He was sharing the survey results with the media yesterday.

Earlier, Teoh said mini-markets were becoming more popular in Malaysia.

"The number of mini-markets grew by about 60 per cent from 250 in 2009 to 408 last year, reflecting that the segment was the fastest growing among retail outlets last year.

"Besides store accessibility, mini- markets are competitive in pricing and offer products that are good value for money."

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We're sensitive to price increases

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Readers' comments (1)

1. Price increase is acceptable if the cause is genuine. Eg. Market demand, and items are scares.

2. But, if it is due to some party, manipulating prices for the sake of achieving high profits and returns without giving the thought to the poor and needy, in other words, total lost of customers' obligation, then it is a real sorry state.

3. Government, on the other hand, should have enough "sensors", to monitor the condition before it spread like wildfire. Notably, the rakyat would blame the government for setting loose of the monitoring.

4. Establishing logistical framework might help in the long run. Eg. sugar shortage. As responsible government, the government need to establish more acreage on the sugar plantation. We don't advise people to stay away from taking sugar! Sugar cane could also be planted on 3,4 or 5 stories building!

5. Our imaginative must goes on forever. As difficulties and challenges would always knock on our doors. Take the challenges, and we could be better!

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Selasa, 12 Julai 2011