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Fraser & Neave Holdings Bhd (F&N) remains confident of its future and expects to recoup its revenue loss from the termination of the Coca-Cola franchise business by launching more new products and venturing into export markets. Group CEO Tan Ang Meng views the termination of the franchise agreements as a short-term setback and sees vast
opportunities for the food and beverage group as it is no longer restrained by the terms and conditions stipulated in the agreements. Under the franchise agreements with Coca-Cola, F&N is unable to launch tea, coffee, water and energy drinks, export its own brands and open new manufacturing plants among others.
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The attempt by Terengganu Inc Sdn Bhd (TISB) to privatise Eastern Pacific Industrial Corp (EPIC) has hit a snag, sources said, citing the resistance from EPIC’s second-largest shareholder Ahmad Zaki Resources which has a 21.3% stake. It is learnt that TISB, an investment vehicle of the Terengganu State Government, had wanted to offer RM2.10 a share for the remaining shares in EPIC. However AZRB had demanded RM2.50 a piece. The state government wants full control of the Kemaman Port’s operations hence the need to privatise EPIC.
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Sell off your old car and buy a new one at a RM5,000 discount – that can be a reality if the proposal by the International Trade and Industry Ministry is accepted by the Finance Ministry. Minister Tan Sri Muhyiddin Yassin said the proposal, which would encourage consumers to buy new cars, had been submitted for consideration in the mini-budget, to
be unveiled on March 10. He said that if the proposal was accepted, owners would be able to sell off their cars of 15 years or older and buy new ones at discounted prices. “The RM5,000 incentive can be in the form of reduction in excise duties and sales tax or other mechanisms, he told reporters. At the moment he said, there were more than 1m cars aged 15 years and above in the country. Meanwhile, Muhyiddin said the ministry had applied for an additional allocation of RM5bn to spur growtn in the industrial and manufacturing sector.
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January vehicle sales dropped 17.5% from a year ago due to lower consumer sentiments and confidence. The Malaysian Automobile Association (MAA) says in a statement the sales volume would see little change in February as market conditions remain unchanged. It adds that sales volume for January contracted by 8,010 units to 37,801 compared with 45,811 a year ago and was 5.1% lower m-o-m. Sales included passenger and commercial vehicles. The MAA said the drop in sales volume was also due to a shorter working month as the lunar new year celebrations was in January. “However, deliveries of several new models have cushioned the full impact of the soft market,” it adds.
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Inflation rate in January increased by 3.9% against 2.3% in the same month last year. However, inflation was down by 0.1% when compared with December 2008, the Statistics Department said in a statement. It attributed the higher inflation in January to increases in the indices of all the main groups except transport, textile, footwear and communication. Notable increases were in food, and non-alcoholic beverages which rose 9.
8% and housing, water, electricity, gas and o ther fuels added 1.7%, it said.
Bank Negara’s international reserves rose to RM317.7bn as at Feb 13 from RM316.8bn on Jan 30. In a statement, the central bank says the reserves position is sufficient to finance 7.6 months of retained imports and is four times the short term external debt. The reserves comprise foreign current reserves (US$86bn), IMF reserves position (US$300m), gold (US$400m) and other reserves (US$4.7bn).
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Fraser & Neave Holdings Bhd (F&N) remains confident of its future and expects to recoup its revenue loss from the termination of the Coca-Cola franchise business by launching more new products and venturing into export markets. Group CEO Tan Ang Meng views the termination of the franchise agreements as a short-term setback and sees vastopportunities for the food and beverage group as it is no longer restrained by the terms and conditions stipulated in the agreements. Under the franchise agreements with Coca-Cola, F&N is unable to launch tea, coffee, water and energy drinks, export its own brands and open new manufacturing plants among others.
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* * * *The attempt by Terengganu Inc Sdn Bhd (TISB) to privatise Eastern Pacific Industrial Corp (EPIC) has hit a snag, sources said, citing the resistance from EPIC’s second-largest shareholder Ahmad Zaki Resources which has a 21.3% stake. It is learnt that TISB, an investment vehicle of the Terengganu State Government, had wanted to offer RM2.10 a share for the remaining shares in EPIC. However AZRB had demanded RM2.50 a piece. The state government wants full control of the Kemaman Port’s operations hence the need to privatise EPIC.
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Sell off your old car and buy a new one at a RM5,000 discount – that can be a reality if the proposal by the International Trade and Industry Ministry is accepted by the Finance Ministry. Minister Tan Sri Muhyiddin Yassin said the proposal, which would encourage consumers to buy new cars, had been submitted for consideration in the mini-budget, tobe unveiled on March 10. He said that if the proposal was accepted, owners would be able to sell off their cars of 15 years or older and buy new ones at discounted prices. “The RM5,000 incentive can be in the form of reduction in excise duties and sales tax or other mechanisms, he told reporters. At the moment he said, there were more than 1m cars aged 15 years and above in the country. Meanwhile, Muhyiddin said the ministry had applied for an additional allocation of RM5bn to spur growtn in the industrial and manufacturing sector.
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* * * *January vehicle sales dropped 17.5% from a year ago due to lower consumer sentiments and confidence. The Malaysian Automobile Association (MAA) says in a statement the sales volume would see little change in February as market conditions remain unchanged. It adds that sales volume for January contracted by 8,010 units to 37,801 compared with 45,811 a year ago and was 5.1% lower m-o-m. Sales included passenger and commercial vehicles. The MAA said the drop in sales volume was also due to a shorter working month as the lunar new year celebrations was in January. “However, deliveries of several new models have cushioned the full impact of the soft market,” it adds.
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Inflation rate in January increased by 3.9% against 2.3% in the same month last year. However, inflation was down by 0.1% when compared with December 2008, the Statistics Department said in a statement. It attributed the higher inflation in January to increases in the indices of all the main groups except transport, textile, footwear and communication. Notable increases were in food, and non-alcoholic beverages which rose 9.
8% and housing, water, electricity, gas and o ther fuels added 1.7%, it said.Bank Negara’s international reserves rose to RM317.7bn as at Feb 13 from RM316.8bn on Jan 30. In a statement, the central bank says the reserves position is sufficient to finance 7.6 months of retained imports and is four times the short term external debt. The reserves comprise foreign current reserves (US$86bn), IMF reserves position (US$300m), gold (US$400m) and other reserves (US$4.7bn).
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