theSun | FRIDAY JUNE 12 2009 15

business

KUALA LUMPUR: The Em-

ployees Provident Fund’s (EPF)
investment income dropped
10.47% to RM3.26 billion for the
first quarter ended March 31,
from RM3.64 billion recorded in
the fourth quarter of 2008.
EPF’s Q1 investment income
drops 10.47% to RM3.26bil
The decline is due to lower
investment returns from both
fixed income instruments and
equities, said EPF in a statement
yesterday.
The highest income contribu-
tor in the first quarter was loans
and bonds, which contributed RM1.11 billion, a drop of 13.23% contributed RM223.83 million after in- “The market condition is expected million to the EPF income down from
RM1.78 billion, a drop of 2.15% from RM1.28 billion earned by vestment provisioning resulting from to remain challenging in the near term RM51.32 million earned in the previ-
compared with RM1.82 billion MGS in the last quarter of 2008. the decline in equity prices, compared following the impact of the global re- ous quarter.
in the fourth quarter of last “Despite the drop in earnings with RM342.54 million in the previous cession on the domestic economy. The EPF’s total fund size currently
year. from loans and bonds and MGS quarter. “However, improving outlook on stands at RM348.16 billion, up 1.93%
As at March 31 this year, this quarter, we will continue to The EPF continued to invest in the external front, strong domestic fis- from RM341.56 billion in the last quar-
36.81% of loans and bonds invest in these investments as bluechip stocks with a strong focus cal impulse and the existence of ample ter of 2008.
investments was in companies they provide capital preserva- in two sectors. Of the funds invested liquidity are expected to help bolster “The uncertainties surrounding the
with AAA credit ratings and tion and the stability of returns, in the equities market, 37.43% was in market performance in the second half global economy continue to affect EPF’s
49.97% was in companies with which is in accordance with our trade and services sector while 33.93% of 2009,” said Azlan. investments. We anticipate that it will
AA ratings. investment mandate that favour was in the finance sector. Money Market Instruments returned be a tough year going forward but, as
Malaysian Government Se- low-risk instruments,” EPF chief Smaller investments of less than RM120.11 million in the first quarter, a a long-term investor, we look forward
curities (MGS) was the second executive officer Tan Sri Azlan 10% were made in sectors such as drop from RM143.21 million earned in to capitalising on the opportunities that
highest income earner during Zainol said in the statement. plantation (8.66%), industrial products the fourth quarter of 2008. these challenging times can bring,” he
the period reviewed, returning During the quarter, equities (6.98%) and construction (4.59%). Properties contributed RM20.63 added. – Bernama

Nestle to boost
investment in halal
products operation
SHAH ALAM: The growing global opportunities in halal foods and products
has encouraged the Nestle Group to boost its investment in halal manu-
facturing and capacity building.
Its executive vice-president/zone director for Asia, Oceania, Africa and
Middle East, Datuk Frits van Dijk, said this trend would augur well for Nestle
Malaysia as the group continued to expand its workforce.
“Malaysia has long been recognised as Nestle Group’s halal centre of
excellence and a leading exporter of halal products which account for more
than 20% of its total turnover in this country,” he said at the graduation
ceremony of 31 participants of Nestle Malaysia’s executive diploma in
manufacturing management (EDMM) programme here on Wednesday.
Van Dijk said Nestle employed more than 280,000 people worldwide
and considered human capital development as an important investment.
“At Nestle, the average number of years of service at retirement is 27
years (in the top 20 countries that employ 80% of our people), and we
believe that one of the reasons for the low turnover is that we help people
grow in their personal capabilities,” he said.
The EDMM programme, developed jointly by Nestle Malaysia and Open
University of Malaysia (OUM) was launched in 2006 to develop Nestle’s
production executives into first-line managers.
The 20-month programme is based on a thoroughly-researched job
analysis of the first-line manager position in Nestle factories, with each
topic taught supporting a performance objective and the goal of delivering
specific workplace competencies. – Bernama

when making an investment deci-

sion, it added. – Bernama

briefs CCM eyes 10% rise in

Bursa issues queries
to Compugates, SAAG
KUALA LUMPUR: Bursa Malaysia
Securities Bhd yesterday issued
an unusual market activity (UMA)
query to Compugates Holdings Bhd
due to the high daily volume in the
company’s shares recently.
A similar query was also is-
sued to SAAG Consolidated (M)
Bhd for the persistent high trading
interest in the company’s securities
yesterday, the exchange said in a
statement.
Both Compugates and SAAG are
required to publicly confirm, among
others, whether there were any cor-
porate development relating to their
business and affairs that have not
been previously announced, which
those in the stage of negotiation or
discussion, Bursa Securities said.
The two companies also needed
to explain whether there was any
corporate development relating to
their business and affairs that have
not been previously announced, the
exchange said.
Investors are advised to take note
of both companies’ replies which
would be posted on their website,
export revenue
KUALA LUMPUR: Chemical Com-
pany of Malaysia (CCM) hopes to
increase its export revenue to 40%
by 2010 from the current 30%, its
group managing director Datuk Dr
Mohamad Hashim Ahmad Tajudin
said yesterday.
To achieve this target, the group
will intensify its promotion in exist-
ing overseas markets for its ferti-
liser, pharmaceutical and chemical
businesses, Mohamad Hashim told
reporters after a meeting with
CCM’s stakeholders here.
More than 700 of the group’s
products are currently marketed in
28 countries, including Singapore,
Indonesia, Vietnam, Thailand and
the Philippines, and those in the
Middle East, Africa and Eastern
Europe, he said.
Indonesia is the largest overseas
market revenue contributor with
about 25%.
CCM achieved a turnover of
RM2.2 billion for its financial year
ended Dec 31, 2008, which exceed-
ed its key performance indicator
(KPI) target of RM1.7 billion.
Its pre-tax profit stood at
RM120.3 million, which was higher
compared with RM105.6 million
previously. – Bernama