NST Online Business Times : latest
NST Online Business Times : latest |
| KL shares open higher in early trading Posted: 14 May 2013 07:04 PM PDT Share prices on Bursa Malaysia opened higher in early trading today on active buying interest for local stocks, dealers said. At 9.01am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.19 points better at 1,790.62, after opening 4.20 points higher at 1,792.63. Market breadth was positive, with 177 gainers and 28 losers, 108 counters were unchanged, 1,281 untraded and 18 others were suspended. Turnover stood at 103.754 million shares worth RM28.922 million.
"This will pave the way for our Malaysian bourse to resume its upward momentum today," it said. Technically speaking, the research house said the benchmark FBM KLCI could advance towards the psychological barrier of 1,800 ahead. In terms of news flow, it noted that the focus this afternoon would be on the naming of a new Cabinet line-up and the release of first quarter 2013 gross domestic product report by Banak Negara, with one media survey projecting an annual increase of 5.2 per cent. On the scoreboard, the Finance Index gained 4.781 points to 16,866.47, the Industrial Index rose 9.33 points to 2,996.07 and the Plantation Index added 11.319 points to 8,400.06. The FBM Emas Index garnered 21.271 point to 12,370.54, the FBMT100 advanced 18.82 points to 12,161.87, while the FBM Mid 70 Index perked 37.511 points to 14,061.11. The FBM Ace Index jumped 43.45 points to 4,522.26. Among actives, Naim Indah earned 1.5 sen to 21.5 sen, Patimas Computers was flat at five sen, while Ingenuity Consolidated and D.B.E Gurney Resources added half-a-sen each to 12 sen and eight sen. Heavyweights, Maybank and CIMB were unchanged at RM10.14 and RM8.47, respectively, Axiata and Sime Darby gained three sen each to RM7.01 and RM9.63.-- Bernama |
| Matrade to showcase Malaysia in Chennai Posted: 14 May 2013 07:10 PM PDT Malaysia External Trade Development Corp (Matrade) will host a three-day "Showcase Malaysia" in Chennai, south India, from June 20. The event is organised following the success of Showcase Malaysia in Pune, western Maharashtra, India, in October last year. About 40 companies had already signed up to showcase their products from various sectors including furniture, automotive, parts and components, cosmetics and wellness, infrastructure, chemicals and pharmaceuticals and education, franchise and construction services, it said in a statement. For the past few years, Matrade has been bringing Malaysian companies to India to meet the business community there, and many local companies have expanded their businesses into India.
"The city's economy is estimated to grow to US$100 billion, which is 2.4 times its present size, by 2025 and Matrade is targeting to expand exports to India by focusing on the growing middle-income group and the second-tier cities," the external trade promotion agency said in a statement. Chennai is the base to around 30 per cent of India's automotive industry and 40 per cent of the automotive components industry, which makes it an attractive city for Malaysian automotive and parts and components industries players to explore. Chennai is also among the largest electronics hardware exporting centre in India, accounting for 45 per cent of total exports. With increasing demand in the consumption pattern in many sectors, Matrade is positive that Showcase Malaysia in Chennai will generate positive sales for Malaysian companies, besides creating awareness and visibility for Malaysian products and services among the business community and consumers in India,
Matrade said the middle-class group will be the predominant force in the increase in consumer spending and will account for 59 per cent of India's total consumption by 2025. "This will translate into huge demand, particularly for products such as cars, televisions, computers, air-conditioners and microwave ovens," the agency added.-- Bernama |
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