20 theSun | THURSDAY DECEMBER 11 2008

business news Hang Seng

15,577.74
S&P
/ASX200
3,640.70
TSEC
4,685.87
KLCI
854.66
STI
1,821.70
KOSPI
1,145.87
NIKKEI
8,660.24
824.52 36.40 186.21 19.49 67.12 40.03 264.37

KL market summary

New measures draw INDICES

FBMEMAS
COMPOSITE
INDUSTRIAL
CONSUMER PRODUCT
DECEMBER 10, 2008

5,568.67
854.66
2,047.00
273.63
CHANGE
(+114.39)
(+ 19.49)
(+ 46.81)
(+ 2.46)

more investors to Penang

by Opalyn Mok
newsdesk@thesundaily.com
GEORGE TOWN: Penang
has been able to increase
its incoming investments to
RM8 billion in the first nine
months of the year compared
with last year’s RM4.77 billion
investments by implementing
eight new measures, Chief
Minister Lim Guan Eng said
in his speech at the fourth Asia
Economic Summit in Hongkong.
“Making Penang a smart
shop instead of a sweat shop
will transform the state into
an international city of choice
for investors and tourists,” he
said at the summit themed
Reinventing Asian Economies
for Sustainable Growth and
Prosperity.
Lim said Penang is a
key trading post that has
successfully evolved into
one of the largest electronics
manufacturing hub in the world
during the last century.
“Its successes from the
70s and 80s made Penang the
leading state in Malaysia with a
gross domestic product (GDP)
per capita of RM28,851 which
is double that of the whole
country which has a GDP per
capita of RM19,189 for this
INDUSTRIAL PRODUCT 66.91 (+ 0.29)
CONSTRUCTION 159.65 (+ 3.35)
TRADING SERVICES 115.88 (+ 2.41)
FINANCE 6,589.07 (+157.72)
PROPERTIES 507.64 (+ 7.30)
PLANTATIONS 3,859.95 (+ 94.56)
MINING 241.15 ( unch)
FBMSHA 5,761.89 (+111.69)
year,” he said. will be available at FBM2BRD 3,961.42 (+ 20.47)
In blaming the previous affordable rates in TECHNOLOGY 13.18 (- 0.08)
state administration for two years’ time.
mismanagement and abuse of TURNOVER VALUE
powers in causing an alarming » A civil society 463.349mil RM619.71mil
drop in the state’s position as encompassing
a leading investment location triple
of choice, Lim said the state transformation Share prices close firmer
including political
has dropped to number five KUALA LUMPUR: Share prices on Bursa
transformation,
compared with other states Malaysia were firmer at the end of the trad-
economic
in Malaysia in terms of ing session yesterday as investors lent their
transformation
investments last year. support by buying some undervalued quality
and ethical
“There was a need for a stocks amid continued worries over the global
transformation.
new holistic approach that economic slowdown, dealers said.
links Penang’s unique logistic » Encouraging The overnight decline on Wall Street failed
position, its scenic beauty, rich creativity, to drag down the local bourse which saw the
and cultural heritage, social innovation, benchmark Kuala Lumpur Composite Index
harmony, even good food with research and (KLCI) close 19.49 points higher or 2.334 per-
our talented human resources development. cent at 854.66.
and strong work ethic,” he said. The dealers said gains particularly in bank-
Lim said the new state » Establishing ing and plantation stocks had pushed the KLCI
government, since it took over international
higher.
on March 8, has implemented benchmarks
Turnover was mild at 463.349 million shares
these eight new measures to that makes
valued at RM619.71 million from Tuesday’s close
reinvent the state: development
of 529.041 million shares worth RM791.057
sustainable.
» Good governance based on million. – Bernama
competency, accountability and » Trusting in the
ability of the state’s
transparency.
» Focus on ICT (information,
human resources
by investing Proton on track to
communication and
technology) and computer
in retraining
and human be top carmaker
knowledge by launching development. partnership model of a win-win KUALA LUMPUR: Though still a long way to go for
new initiatives to turn the
» Reinvent the government to formula where public interest Proton Holdings Bhd to be considered a successful
state into the first WiFi state
work better with less cost. is upheld without sacrificing carmaker in the world, it is on the right track to be
where wireless services be the private sector’s necessity for on par with the world’s top car manufacturers.
provided free while WiMAX » Adopting a public-private profits. The national carmaker has proven its sceptics
wrong by doing what it should do best, and that is
the business of making and selling cars.
Launching of the highly-popular Proton Persona

PNB: Launch of ASM doesn’t discourage spending
PULAU PINANG: Permodalan
Nasional Berhad (PNB) said
that the launch of one billion
additional units of Amanah
Saham Malaysia (ASM)
last week was not against
encouraging the people to
spend.
PNB president and group
chief executive Tan Sri Hamad
Kama Piah Che Othman said
that although the government
was encouraging the people to
spend, they were also advised
to save for the long term.
“For those who have a lot
of money, they can spend and
at the same time also save by
investing,” he told reporters
after delivering a lecture titled
Navigating the Rough Ocean
at Universiti Sains Malaysia
(USM) here yesterday.
All one billion units of the
ASM were fully subscribed four
days after going on sale from
Dec 1.
The maximum number of
shares to be subscribed was set
at 10,000 units to ensure wider
and equal opportunities for
every investor.
The ASM is a fixed income
fund valued at RM1 and open to
all Malaysians aged six months
and above. Since its launch, the
average income distribution for
the ASM is 7.12 sen per unit.
He said that by offering
various unit trusts, PNB
was giving the people an
opportunity to use their money
effectively.
“Actually, from time to time
we look at the demand and
needs to launch unit trusts. If
we want to encourage people
to invest, then we must also
offer new products,” he said
in response to a question as to
whether PNB would be offering
new products.
He, however, declined to say
if PNB would be launching new
products in the near future.
– Bernama
and the new Saga models has changed the com-
pany’s dwindling fortunes.
The company is now present in 24 countries
including in the United Kingdom, Australia, New
Zealand, Indonesia, Thailand and Singapore.
Analysts feel the company can double its over-
seas shipments to 40,000 units next year, aided
by new models such as Persona, Saga and its
latest edition, new multi-purpose vehicle, due for
launch by March next year. Currently, the company
exports 2,000 units a month, working out to 24,000
units a year. Credit should be given to managing
director Datuk Syed Zainal Abidin Mohamed Tahir,
who since taking over the helm in 2006, has been
working tirelessly to put Proton on the right track
to regain its share in the local and foreign automo-
tive markets. – Bernama