Rabu, 30 November 2011

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AirAsia passenger service charge now RM32

Posted: 30 Nov 2011 07:03 PM PST

AirAsia Bhd will start collecting the newly revised passenger service charge of RM32 from December 1 2011.

AirAsia passengers flying to international destinations from Malaysia will be subjected to new PSC rates, as per Malaysia Airports Holdings Berhad (MAHB) directions.

The PSC was previously RM25 for international passengers.

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Malaysia Airports sees 12pc growth

Posted: 30 Nov 2011 07:08 PM PST

SEPANG: Malaysia Airports Holdings Bhd (MAHB) is projecting a 12 per cent growth or 37 million passenger movement this year from Kuala Lumpur International Airport (KLIA) and low-cost carrier terminal (LCCT).

The bulk of the growth will come from the LCCT which will see about 15 per cent jump in passenger movement to 17 million as compared with KLIA, which is expecting between six and seven per cent growth or 20 million passengers this year.

"The good numbers are coming from LCCT as we see an increase in airlines frequency and demand for inbound and outbound destinations," MAHB senior general manager Datuk Azmi Murad said yesterday.

Next year, he expects to see between six and eight per cent growth from both airports collectively as the LCCT introduces new destinations and KLIA expects to sign-up at least two new airlines.

Another positive indicator to the airport operator is Emirates Airline A380's daily transit at KLIA beginning January next year.

Murad said the decision to cease Firefly's operations next month will inevitably see a dip in KLIA passenger movement. Since January this year, Firefly has based its jets operations at the main terminal building, KLIA.

This year, the group aims to handle more than 60 million passengers at all its 39 airports in Malaysia. Its long term plan is to hit a 72 million passengers per year by 2014. Last year, MAHB handled a total of 57.8 million passengers in all
its airports.

For the third quarter ended September 30, its net profit jumped 74 per cent to RM108.2 million from a year ago, boosted by a RM22 million dividend income from a joint venture and positive contribution from associates overseas. Revenue climbed 4.7 per cent to RM652.8 million on rising passenger traffic.

Azmi, however, refused to comment on AirAsia chief executive officer Tan Sri Tony Fernandes' statement that the airline will refuse to use the aerobridge at KLIA2.

The outspoken CEO had taken to his social networking site to bash MAHB's decision to include 80 aerobridges at KLIA2 and condemn the airport operator for a ballooning budget to construct the new LCCT.

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Selasa, 29 November 2011

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MAHB downgraded, stock slides

Posted: 29 Nov 2011 06:40 PM PST

Malaysia Airports Holdings Bhd fell to a two-week low after the stock was downgraded at CIMB Group Holdings Bhd and HwangDBS Vickers Research Sdn Bhd, which said rising cost of a new terminal may hurt earnings.

The stock slid 1.2 percent to RM6.02 at 10:17 a.m. local time in Kuala Lumpur trading, set for its lowest close since Nov. 23. -- Bloomberg

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GHL Systems plunges on 'irregularities'

Posted: 29 Nov 2011 06:42 PM PST

GHL Systems Bhd, a Malaysian online transactions provider, tumbled 44 percent, set for a record decline after a review found "irregular transactions" between its China unit and a third-party company.

The stock dropped 15 sen to 19 sen at 9:32 a.m. local time in Kuala Lumpur trading. -- Bloomberg

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Isnin, 28 November 2011

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IJM Q2 income slumps on forex losses

Posted: 28 Nov 2011 05:14 PM PST

IJM Corp, a Malaysian builder, said second-quarter net income dropped 35 per cent to RM74.8 million from RM115.1 million a year earlier.

Profit fell due to foreign exchange losses on dollar-denominated debt in its infrastructure division after booking a currency gain in the same period a year earlier, IJM said in a statement. -- Bloomberg

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MRCB gains on tripling Q3 profit

Posted: 28 Nov 2011 05:17 PM PST

Malaysian Resources Corp, a property developer and builder, rose the most in almost a month in Kuala Lumpur trading after third-quarter profit almost tripled to RM10.7 million.

The stock gained 3.2 percent to RM1.95 at 9:03 a.m. local time, set for its biggest gain since Nov. 2. -- Bloomberg

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Ahad, 27 November 2011

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Qantas to shelve Asia premium airline plan

Posted: 27 Nov 2011 05:56 PM PST

SYDNEY: Australian carrier Qantas is set to shelve its controversial plan to set up a joint-venture premium airline based in Asia due to the economic turmoil in Europe, a report said Monday.

The Australian Financial Review said that after a year of planning for the capital-intensive project based in either Kuala Lumpur or Singapore, executives had now decided to focus on a lower risk alliance with Malaysia Airlines.

It said Qantas and the Malaysian airline were working towards a letter of intent for the new partnership.

This would include a code-sharing alliance which is expected to allow joint marketing, scheduling and pricing six to nine months after an agreement is reached.

The newspaper added that talks with the Singapore government would cease, citing unnamed sources.

Qantas told AFP no decision had yet been taken.

"It's speculation. There has not been any decision yet and we remain in negotiations with Singapore and Malaysia," a spokesman said.

The announcement in August of plans to establish a premium Asian airline sparked a fierce backlash from unions concerned at the outsourcing of jobs, which culminated in Qantas grounding its entire fleet in October.

The government's industrial relations umpire was forced to step in and, with unions representing pilots, engineers and ground staff unable to resolve their disagreements with the airline, the dispute is now heading to arbitration.

While the premium airline plan has apparently been shelved, the Financial Review said it could be brought back to life when economic conditions improve with Tony Fernandes, head of budget carrier Air Asia, a willing investor.

It added that the hook-up with Malaysia Airlines would mirror Qantas's relationship with British Airways.

As part of the deal, Qantas would likely recommence flights to Kuala Lumpur and gradually shift its central Asian hub to Malaysia from Singapore.

Partner British Airways would also reorient its focus in the region to the Malaysian capital, the report said. - AFP

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Jumaat, 25 November 2011

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US stocks awash in more red ink

Posted: 25 Nov 2011 05:30 PM PST

NEW YORK: US stock markets ended Friday awash in yet more red ink, with a seemingly endless stream of bad news from Europe pushing markets to what analysts said was their worst-ever Thanksgiving week.

The Dow Jones Industrial Average fell 25.61 points (0.23 percent) in Friday's holiday-shortened session to end the week at 11,231.94, a loss of 4.8 percent for the week.

"The latest fiscal drama out of Europe tipped the scales in the bears' favour," said Andrea Kramer of Schaeffer's.

The broader S&P 500 and the tech-heavy Nasdaq were also down.

"Today's slide caps off the worst Thanksgiving week ever for stocks as the S&P 500 tumbled 4.7 percent," said analysts at Briefing.com.

The week began badly, with markets tanking Monday on news that Congress failed to reach a deal to cut the country's massive budget deficit and to extend stimulus measures into next year.

On Tuesday, a sharp downward revision to US growth figures to 2.0 percent from 2.5 percent squeezed confidence further.

But it was events on the other side of the Atlantic that set the tone.

On Wednesday, a poor German debt auction fuelled fears that Europe's fiscal crisis was spreading to the very core of the continent.

US markets were closed on Thursday to mark the Thanksgiving holiday, but after reopening on Friday, the week-long fall resumed.

A brief morning rally gave way amid news of a poor Italian bond auction that provided the latest twist in Europe's long-running debt crisis.

Italy had to pay record rates to raise 10 billion euros (US$13.2 billion), sparking more share selling.

The country was forced to pay a rate of 6.5 percent on bonds due in six months and of 7.81 percent on bonds due in two years -- dangerous levels that analysts say could make Italy insolvent within months.

There was more bad news from Hungary.

Moody's on Thursday downgraded Hungary's government bonds by a notch to Ba1 with a negative outlook, the ratings firm said.

Another ratings agency, Standard & Poor's, downgraded Belgium's rating.

On Friday, the broader S&P 500-stock index fell 3.12 points (0.27 percent) to 1,158.67, while the tech-rich Nasdaq fell 18.57 points (0.75 percent) to 2,441.51.

The US bond market weakened.

The interest rate paid on 10-year US debt rose to 1.96 percent from 1.88 percent late on Wednesday.

The 30-year rate was 2.92 percent versus 2.91

Next week, attention could shift back to the United States, with the release of unemployment data on Friday.

But a stream of European bond auctions could keep Europe at center stage.

"Italy and Spain will be faced with another set of critical bond auctions over the coming week, in a very risk-averse and illiquid environment," Barclay's Capital analysts said. --AFP

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Khamis, 24 November 2011

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MISC slides on one-off US$400m charge

Posted: 24 Nov 2011 05:26 PM PST

MISC Bhd, the world's largest owner-operator of liquefied natural gas tankers, fell to a six-week low after saying it will incur a US$400 million charge this year from a move to stop operating container vessels.

The stock slid 1.8 percent to RM6.02 at 9:06 a.m. local time in Kuala Lumpur, set for its lowest close since Oct. 12.

The one-off charge will result in MISC making a loss for its financial year ending Dec. 31, it said in a statement yesterday.
-- Bloomberg

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Petronas Gas falls most in 2 months

Posted: 24 Nov 2011 05:17 PM PST

Petronas Gas Bhd, a Malaysian gas distributor, fell the most in two months in Kuala Lumpur trading after saying higher costs impacted its second-quarter profit.

The stock fell 2.1 percent to RM12.98 at 9:05 a.m. local time, set for its largest fall since Sept. 20.

The company reported net income of RM350.2 million for the quarter, without providing a year ago comparison after changing its financial year. -- Bloomberg

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Rabu, 23 November 2011

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Genting Plant gains on Q3 earnings jump

Posted: 23 Nov 2011 05:16 PM PST

Genting Plantations Bhd, a Malaysian palm oil producer, rose to a six-month high in Kuala Lumpur trading after reporting a 41 percent jump in third- quarter earnings.

The stock gained 1.5 percent to RM8.15 at 9:09 a.m. local time, set for its highest close since May 12. -- Bloomberg

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Sumatec: No assets injection; stock falls

Posted: 23 Nov 2011 05:19 PM PST

Sumatec Resources Bhd, a Malaysian engineering group, fell the most in a week in Kuala Lumpur trading after denying a Star newspaper report which said some oil and gas assets may be injected into the company.

The stock dropped 14 percent to 24.5 sen at 9:05 a.m. local time, set for its biggest decline since Nov. 15. -- Bloomberg

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Selasa, 22 November 2011

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MAS downgraded, stock at 6-week low

Posted: 22 Nov 2011 05:49 PM PST

Malaysian Airline System Bhd, the national carrier, fell to a six-week low in Kuala Lumpur trading as HwangDBS Vickers Research Sdn Bhd downgraded the stock to "hold" after the company reported a RM477.6 million quarterly loss.

The shares dropped 2.2 per cent to RM1.33 at 9:42 a.m. local time, set for their lowest close since Oct. 10. -- Bloomberg

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Petronas Chem posts RM1.2b Q2 profit

Posted: 22 Nov 2011 04:59 PM PST

Petronas Chemicals Group Bhd, the petrochemicals arm of Malaysia's state oil company, reported a second-quarter profit of RM1.15 billion.

It didn't give a year ago comparison after changing the group's financial year. Revenue for the three months through September was RM4.64 billion with olefins and derivatives leading sales, the Kuala Lumpur-based company said in a statement late yesterday.

Earnings in the current quarter ending December 31 are likely to be "satisfactory" so long as there is sufficient methane gas supply, it said. -- Bloomberg

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Isnin, 21 November 2011

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MAS to cut unprofitable routes, focus on Asia

Posted: 21 Nov 2011 05:15 PM PST

Malaysian Airline System Bhd, which posted a third-quarter loss, expects fourth-quarter earnings to be weaker and said it will cut unprofitable routes and focus on higher-yielding destinations in Asia.

"With the adoption of a leaner network, management shall also be accelerating the return of ageing aircraft, and in so doing improve the fuel efficiency of our fleet," the carrier said in a statement to the Kuala Lumpur stock exchange.

The stock fell to a six-week low in Kuala Lumpur trading after reporting a third-quarter loss of RM477.6 million.

Its shares dropped 1.5 percent to RM1.34 at 9:11 a.m local time, set for their lowest close since Oct. 10.

The stock has lost 36 percent this year. -- Bloomberg

-- Bloomberg

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Harvest Court shares plunge

Posted: 21 Nov 2011 07:13 PM PST

[unable to retrieve full-text content]Harvest Court Industries Bhd shares plunge following news that Mohd Nazifuddin Mohd Najib resigned yesterday as the non-executive director of the company. Mohd Nazifuddin holds 3.982 million shares in Harvest Court. As at 9.55 am, the counter fell 42 sen to 98 sen and was the major loser thus far. On Nov 15, Bursa Malaysia Securities suspended trading in the counter saying that securities of Harvest Court Industries and Harvest Court Industries warrants were designated securities with effect from Nov 16 due to excessive speculation in trading of both securities. With the designation, trading in the counter was allowed but required upfront payment before purchase and a free balance of securities before disposal can be made. Yesterday, the counter closed four sen higher at RM1.40. Harvest Court operates in four segments namely timber product manufacturing; construction; property development; and investment holding and others.-- Bernama
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Ahad, 20 November 2011

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Jumaat, 18 November 2011

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US stocks mixed as Europe wavers

Posted: 18 Nov 2011 05:01 PM PST

NEW YORK: US equity markets closed mixed on Friday as the unresolved eurozone crisis and news of a deep partisan split in Congress's crucial deficit super-committee clouded positive economic data.

The Dow Jones Industrial Average rose 25.43 points (0.22 percent) to 11,796.16 in closing trade.

The broad-based S&P 500 edged down 0.48 point (0.04 percent) to 1,215.65, while the tech-heavy Nasdaq Composite shed 15.49 points (0.60 percent) to 2,572.50.

Markets got a slight lift from a jump in the Conference Board's index of leading economic indicators, providing more evidence that the economy has picked up speed.

But that optimism was overtaken by worries about the sovereign debt crisis rocking Europe.

"Another sign of strength in the US economy is being met with continued concerns surrounding the eurozone debt crisis, exacerbated by growing disagreement among European leaders regarding a proper solution," Charles Schwab analysts said.- AFP

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Khamis, 17 November 2011

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AirAsia cut to 'sell' at Citi, stock slips

Posted: 17 Nov 2011 05:39 PM PST

AirAsia Bhd, Asia's biggest budget carrier, fell to its lowest in more than two weeks in Kuala Lumpur trading after the stock was cut to "sell" from "buy" at Citigroup Inc.

The stock dropped 1.3 per cent to RM3.75 at 9:07 a.m. local time, set for its lowest close since Nov. 1. -- Bloomberg

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KL Kepong to expand oleochemicals business

Posted: 17 Nov 2011 07:17 PM PST

Kuala Lumpur Kepong Bhd is seeking acquisition opportunities for its oleochemicals business to expand capacity and meet rising global demand for its products, Chief Executive Officer Lee Oi Hian told reporters at a briefing near Kuala Lumpur.

The company is also exploring opportunities to expand its landbank to 300,000 hectares for rubber and oil palm from 250,000 hectares.

The Malaysian company may build at least two more palm oil mills in the next few years in Indonesia to add to three other mills there which are currently under construction, he told reporters in Petaling Jaya, Selangor.

It also plans to start construction on three refineries in Indonesia soon, he said. -- Bloomberg

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Selasa, 15 November 2011

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Bumi Armada joins MSCI Malaysia Index

Posted: 15 Nov 2011 05:16 PM PST

[unable to retrieve full-text content]Bumi Armada Bhd, a Malaysian offshore oilfield services provider, was added to the MSCI Malaysia Index, MSCI Inc said in a statement. The changes will be made at the close of Nov. 30. -- Bloomberg

Malaysia, S'pore to call for rail link tender

Posted: 15 Nov 2011 06:06 PM PST

Malaysia's Land Public Transport Commission and Singapore Land Transport Authority will jointly call for the tender for the architectural and engineering consultancy services to develop possible alignments and proposals for the rapid transit system link.

The tender will be called on Nov. 18 in both Singapore and Malaysia, the two transport bodies said in a joint statement today.

The link is aimed at boosting connectivity between Iskandar Malaysia in southern Johor state and Singapore, it said. -- Bloomberg

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Isnin, 14 November 2011

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Toshiba suspends Malaysia unit sale

Posted: 14 Nov 2011 06:17 PM PST

Toshiba Corp suspended the planned sale of a unit in Malaysia to Amkor Technology Inc due to the impact of flooding in Thailand.

The Japanese electronic maker suspended the sale of the unit as it plans to use it to make up for lost production in Thailand, according to a statement to the Tokyo Stock Exchange today. -- Bloomberg

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Harvest's warrants are 'designated securities'

Posted: 14 Nov 2011 05:53 PM PST

Harvest Court Industries Bhd and Harvest Court Industries Bhd's warrants have been declared as "designated securities" by Bursa Malaysia.

This means, investors will be required to make payment upfront before buying have a free balance of securities before selling.
Harvest court mother shares were untraded at RM2.13 and the warrants were untraded at RM1.81 a share.

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Ahad, 13 November 2011

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UEM Land rallies on RHB upgrade

Posted: 13 Nov 2011 06:52 PM PST

UEM Land Holdings Bhd, a Malaysian property developer, rose to a two-week high in Kuala Lumpur trading after RHB Capital Bhd upgraded the stock to "trading buy" with an increased fair value of RM2.38.

Its shares gained 1.4 per cent to RM2.15 at 9.25 am local time, set for their highest close since October 31.

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Bursa queries SYF on unusual mart activitiy

Posted: 13 Nov 2011 07:15 PM PST

Bursa Malaysia Securities Bhd has issued an unusual market activity query, to SYF Resources Bhd today, due to the recent sharp increase in the price and high volume of the company's securities.

In a statement, Bursa Malaysia said: "Investors are advised to take note of the company's reply to the query which will be posted on Bursa Malaysia's website,
http://announcements.bursamalaysia.com, when making their investment decisions."

SYF counters opened higher at 70 sen today, as compared with 67 sen at closing last Friday with 25.9 million volume traded. -- Bernama

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Jumaat, 11 November 2011

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KL shares seen moderately firmer next week

Posted: 11 Nov 2011 07:41 PM PST

The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) is likely to trend moderately higher towards 1,500 level next week, dealers said.

They said the leadership changes in Italy and Greece had raised hopes of a resolution to the eurozone debt crisis.

Affin Investment Bank head of retail research, Dr Nazri Khan, said the local market breadth was expected to be positive with important local sectoral indices such as financials, trading services, technology and small cap indices making a strong comeback after recent declines.

He said in spite of volatility in global markets due to the threat of economic slowdown, the local sentiment would remain resilient and traders should use temporary weakness in the local market to ride out potential year-end rally.

"As for the moment, we are pegging 1,500 and 1,530 as the major resistance while 1,460 and 1,430 as the major support for the local benchmark," he told said.

On downside risk, Nazri said, any new talks of radical overhaul and breakup of the European Union may unsettle investors and create a fresh wave of volatility in global financial markets.

Nazri recommended traders accumulate high-yield, defensive and small-cap stocks in the telco and utilities sectors (such as Yi Lai, Signature, NCB Holding and Century Logistic) which may rebound after undergoing a deep correction in the previous months.

He said Bank Negara Malaysia's decision to maintain the Overnight Policy Rate unchanged at three per cent amid a moderate global growth momentum should also be positive for the local market as it provided more certainty and stability in business funding cost.

On a Friday-to-Friday, the benchmark FBM KLCI declined 8.76 points to 1,468.75.

Bursa Malaysia's Finance Index dropped 132.08 points to 13,152.76, Plantation Index slipped 27.74 points to 7,519.15 and Industrial Index declined 16.81 points to 2,684.89.

The FBM Emas Index slipped 32.82 points to 10,039.33, FBM70 Index increased 10.86 points to 10,853.62, FBM ACE Index increased 68.87 points to 4,268.61 and FBM Top 100 Index decreased 44.12 points to 9,846.52.

Total volume increased to 9.203 billion shares valued at RM6.049 billion from 8.15 billion shares valued at RM7.22 billion last week.

The main market turnover rose to 6.784 billion shares worth RM5.72 billion from 5.76 billion shares worth RM6.91 billion previously.

Warrants slipped to 384.614 million units valued at RM34.419 million from 442 million units valued at RM36.75 million last Friday.

Volume on the ACE market went up to 2.009 billion shares worth RM289.039 million from two billion shares worth RM257.73 million last week. -- Bernama

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iPhone 4S make frenzied debut in new marts

Posted: 11 Nov 2011 04:47 PM PST

HONG KONG: Apple's new iPhone 4S made glitzy and chaotic debuts in three new Asian markets on Friday, with customers and profiteers queuing for up to a week to get their hands on the popular gadget.

Thousands of people thronged Apple's new harbourside store in the southern Chinese city of Hong Kong as staff cheered and clapped, while midnight launches in South Korea and New Zealand featured celebrities and sports stars.

Top South Korean mobile operator SK Telecom put the iPhone 4S on sale at midnight for 100 enthusiasts who had placed pre-orders, with the country's most popular actor Wonbin and actress Shin Min-A counting down to the time.

Hip-hop musicians performed at the event at the company's headquarters.

Korea Telecom laid on comedian Choi Hyo-Jong and offered drinks and a prize quiz to 100 people awaiting its own launch at 8:00am.

Die-hard fans had been keenly awaiting an upgrade to the earlier iPhone 4 long before the 4S was unveiled on October 4.

"I've been waiting for the iPhone 4S for over a year, and I didn't hesitate when I heard the news that it will be sold in Korea," said Lee Jae-Kwang, 31, the first in line for the phone at SK Telecom.

The latest version of Apple's "must-have" accessory was due to roll out in 12 other markets from Europe to Latin America later in the day.

The celebratory atmosphere was soured in Hong Kong by the presence of dozens of aggressive profiteers and professional queuers who established a grey market outside the store almost as soon as the phones went on sale at 7:00am.

"I have collected about 198 phones since this morning from my queuers," said mobile phone dealer Ken Wong, adding he paid the queuers around US$70 each for their efforts.

He said the phones were for his "friends and customers". "The response on the iPhone 4S has been overwhelming," he added.

Regular customer Xu Yaojun came from Xiamen in China with his wife and eight-year-old daughter, who skipped school for the occasion.

He arrived at 10:00am but staff told him there were only enough phones in stock for people who had waited in the queue, which was about 1,500-strong when the store opened its doors.

"The staff told me the phones are all sold out... I can't wait for the official release in (mainland) China, that's why I'm here," the 33-year-old businessman said.

He said he would have to pay extra to buy an iPhone 4S on the grey market.

The launch was more laid back in New Zealand, where about 100 people showed up for the midnight launch in Auckland. Telecom Corp laid on pizza and entertainment, and All Black rugby star Dan Carter manned the sales desk.

The iPhone 4S is already a record-breaker for an Apple product, with more than a million sales in the first 24 hours of pre-orders when it first went on sale last month, shortly after the death of Apple co-founder Steve Jobs.

The latest in the iPhone series boasts faster speeds, a voice-controlled assistant called Siri and an improved camera.

New Zealander Jonathan Mosen, who is blind, queued for six hours to ensure he got his hands on the phone, saying its voice recognition technology was a boon for the visually impaired.

"It's the only cellphone you can take out of the box and it is usable by a blind person," he told Fairfax Media.

Apple plans to make the iPhone 4S available in more than 70 countries by the end of the year.

The buyer frenzy comes despite software bugs that have caused some iPhone 4S owners to report lower than expected battery life, and reports that the Siri software may not cope well with foreign accents.

Consumer Reports, the influential magazine for product reviews, gave the new model a thumbs up on Tuesday after declining to recommend the previous iPhone version because of reception problems. - AFP

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