16 
business KLCI
STI
Hang Seng
SCI
KL market summary
MAY 13, 2009
INDICES CHANGE
FBMEMAS 6,837.28 +4.91
COMPOSITE: 1,022.84 -0.18
INDUSTRIAL 2,251.37 +3.42
CONSUMER PROD 307.39 +3.48
INDUSTRIAL PROD 81.12 +0.46
CONSTRUCTION 199.49 -0.25
TRADING SERVICES 135.76 +0.01
FINANCE 8,068.61 -43.76
PROPERTIES 697.02 +4.57
PLANTATIONS 5,137.40 +61.33
MINING 295.86 +4.05
FBMSHA
FBM2BRD
TECHNOLOGY
7,136.46
4,733.25
15.14
+29.53
+129.07
+0.09
TURNOVER VALUE
3.169bil RM2.075bil
MAS, EADS to start regional
aircraft repair facility
SUBANG JAYA: MAS Aerospace Engineer-
ing Sdn Bhd, a wholly-owned subsidiary of
Malaysia Airline System Bhd (MAS), will
team up with EADS Group subsidiary EADS
SECA to create a world-class PW100 series
engine maintenance, repair and overhaul
(MRO) facility in Subang.
MAS executive director and chief finan-
cial officer Tengku Azmil Zahruddin said
the facility, expected to be operational next
year, is positioned as a one-stop centre for
engine, airframe and component support
for the PW100 series engines.
“With the joint-venture, the immediate
plan is to set up a PW127 engine maintenance
and Hot Section Inspection (HSI) capability.
This will be extended to line maintenance
support and on-site HSI through the mobile
repair team (MRT),” he said.
“This is a great opportunity for MAS Aero-
space to capture a fair-sized market in the
region and provide airlines with significant
cost savings,” he said at the memorandum
of understanding (MoU) signing ceremony
at the MAS Complex in Subang yesterday.
Also present at the ceremony was French
Ambassador to Malaysia Marc Baretti.
According to Tengku Azmil, there are
some 100 aircraft in the region equipped
with the PW100 series engines and the
number is expected to double by 2012.
He said aircraft equipped with the PW100
series engines include ATR, Bombardier
Dash 8 planes and Fokker 50s.
Currently, MAS has a fleet of nine ATRs,
three with MASwings and six at Firefly.
By year-end, MASwings and Firefly
will each have seven ATR aircraft, Tengku
US urges emerging powers to open markets
GENEVA: Big emerging countries like China,
India, Brazil and South Africa must do more to
open their markets to secure a new global trade
deal, the US trade chief said on yesterday.
US Trade Representative Ron Kirk, who took
up his job in March, was speaking after two
days of intense talks with US trade partners at
the World Trade Organisation (WTO), and said
his reception could not have been better.
Kirk said both he and President Barack
Obama were committed to reaching a deal in
the WTO’s long-running Doha round.
“We see it not only as a critical component
of what the president believes should be an
overall worldwide response to the current
economic crisis, but it’s also critical to the
sustenance of many of our least developed
countries,” he said.
But he told a news conference – in a clear
message to the big emerging powers – that a
deal required more than participation by the
US.
In his talks, Kirk met representatives of
1,022.84
2,185.29
0.18
7.16
Nikkei
TSEC
17,059.62 94.02 KOSPI
2,663.77 45.59 S&P/ASX200
Prices end slightly lower
SHARE prices on Bursa Malaysia closed
slightly lower yesterday on waning interests
in heavyweights, dealers said.
They said the losses, however, were
limited on follow-through interests in
second- and lower-liners.
The benchmark Kuala Lumpur Com-
posite Index fell 0.18 point, or 0.018%, to
close at 1,022.84. It opened 3.14 points
higher at 1,026.16 in the morning.
An analyst said the banking counters suf-
fered the most as most investors stayed on
the sidelines to await the announcements
of major companies’ financial results.
“We will see more investors unload-
ing their positions from the third week of
this month,” said MIMB Investment senior
MAS Aerospace Engineering managing director Mohd Roslan Ismail exchanges
documents with EADS SOGERMA CEO Cedric Gautier. Looking on are (from left) MAS
general manager for engineering & maintenance Rashidi Saidin, Tengku Azmil, Baretti
and EADS SECA senior vice-president for business operations Marc de Montessus.
Azmil said.
“With technical expertise from EADS
SECA and our track record as an airline
MRO with readily available infrastructure,
skilled resources as well as a strategic loca-
tion in the region, we are well positioned
to be a key player in the provision of MRO
services,” added Tengku Azmil.
more than half the WTO’s 153 members, includ-
ing African and Latin American countries and
the European Union – the biggest US trading
partner – as well as with WTO Director-General
Pascal Lamy.
Kirk said the economic crisis was hurting
nations like China and the US but causing
unbearable pain to the poorest countries, who
Washington believes should not be asked to
make further sacrifices to reach a deal on
Doha.
With the US market already fully open to
98% of goods from least developed countries,
their next opportunities would come from the
big emerging countries, who should open up
their markets to create a “win-win-win” deal,
he said.
The Doha round was launched in late 2001
to help poor countries prosper through more
trade in food, goods like cars and clothing, and
services like telecoms and banking.
But to sell a deal back home, US negotia-
tors will need to point to new opportunities
theSun | THURSDAY MAY 14 2009
9,340.49
6,485.14
41.88
52.59
1,414.52 11.01
3,856.10 21.10
analyst Rosnani Rasul.
Gainers outnumbered losers by 467 to
241 while 220 counters were unchanged,
335 untraded and 58 others suspended.
Volume increased to 3.169 billion shares
worth at RM2.075 billion from 2.204 billion
shares worth RM1.656 billion on Tuesday.
Among the active stocks, Compugates
and Talam declined half sen each to 12.5
sen and 13 sen respectively, KNM rose five
sen to 84.5 and Scomi went up 14 sen to
76 sen.
In heavyweights, Sime Darby went down
briefs
five sen to RM6.50, Maybank lost 14 sen to
RM4.96, Tenaga dropped 10 sen to RM7.25,
while IOI Corp rose two sen to RM4.46.
ING reports €793mil loss for
– Bernama first quarter
THE HAGUE: Dutch banking and insurance group ING
reported yesterday a €793 million (RM3.806 billion) net
loss for the first quarter, hit by the financial crisis, but the
damage was less severe than at the end of 2008.
First-quarter results were down from a net profit of
€1.54 billion (RM7.39 billion) in the same period last year,
but loss was substantially lighter than the €3.7 billion
(RM17.39 billion) in the last quarter of 2008.
The bank said in its earnings statement that its underlying
net loss, which excludes certain exceptional items, had
narrowed to €305 million (RM1.464 billion) from more than
€3 billion (RM14.4 billion) in the previous quarter.
“Market conditions remained challenging in the first
quarter,” the bank’s chief executive Jan Hommen said in
the statement.
ING received massive cash support from the Dutch
government to stay afloat during the financial crisis last
year.
It said yesterday it had carried out more than 5,000 of
7,000 job cuts it announced in January. – AFP
Germany agrees ‘bad bank’ scheme
BERLIN: Germany’s cabinet agreed a “bad bank”
scheme yesterday to clean up toxic assets from banks’
balance sheets, a key plan of Berlin’s bid to turn around
Europe’s biggest economy, a spokesman said.
The plan, which has become somewhat of a politi-
cal hot potato five months before a national election,
would allow banks to park their toxic assets in spe-
cially-created institutions for up to 20 years.
Berlin hopes that removing these bad holdings
from banks’ balance sheets will encourage them to
begin lending to each other and to businesses and
KAMARIDUAN MOHD NOR/THESUN
consumers, kick-starting an economy expected to
shrink 6% this year. – AFP
PT APM ordered to stop suits
against Astro
KUALA LUMPUR: An international arbitration tribunal has
ordered PT Ayunda Prima Mitra (PT APM) to immediately
discontinue civil suits against Astro All Asia Networks Plc,
its subsidiaries and group chief executive officer and
executive deputy chairman Ralph Marshall.
Alleging that PT APM, amongst others, had failed to
complete a proposed joint venture in PT Direct Vision,
Astro said it had exercised its right to arbitrate the dispute
pursuant to a written agreement relating to the proposed
EADS SECA is a Pratt & Whitney and joint venture.
Honeywell designated aircraft engine repair Astro said the tribunal, which held a preliminary hearing
and overhaul facility of EADS Group. between April 20 and April 24, has also prohibited PT APM
It has serviced more than 400 engines from bringing any further legal proceedings against Astro,
at its workshop and an additional 300 plus its subsidiaries and Marshall so far as the dispute relates to
more at its customer’s facility, leading to the proposed joint venture other than by way of arbitration
a turnover of US$140 million (RM490 pursuant to the said agreement. – Bernama
million) last year.
Japan’s NTT posts big profit
TOKYO: Japanese telecom giant NTT said yesterday
it made a net profit of ¥538.7 billion (RM19.04 billion)
till March this year as its business remained relatively
resilient during the recession.
Nippon Telegraph and Telecom Corp said its earn-
for American businesses too, and the former ings fell 15.2% but it still logged the biggest profit
Dallas mayor said a Doha deal would have to announced by any Japanese company so far for the
bring meaningful gains in market access for year. – AFP
all countries.
He said the US did not want to throw away South Korea to continue
the work that had gone into the Doha talks
over the past seven years, but clearly the stimulus spending
process was not working, and Washington is SEOUL: South Korea’s government will continue its
looking for new ways forward. stimulus spending until the export-dominated economy
One possibility under consideration is to recovers fully from the global downturn, Finance Minister
drop the effort to agree on a general formula Yoon Jeung-Hyun said yesterday.
for cutting tariffs and subsidies, known in trade “We should wait to see further if the local economy has
jargon as “modalities”, and go straight into really bottomed out,” Yoon told a forum in Seoul.
“scheduling” – negotiating cuts in import du- “The sharp economic downturn has been easing and
ties and other moves on a bilateral basis. Kirk its pace is also slowing down but a downside trend is still
did not rule this out. under way.
It would have the advantage of letting US “Until the private sector shows signs of rebounding
businesses – whose support is critical to get- on its own, we will have to keep an expansionary macro-
ting a deal pushed through the US Congress economic policy stance,” Yonhap news agency quoted
– see quickly what they are getting, but is likely him as saying.
to be resisted by developing countries who On Tuesday the central bank froze its key interest rate
fear they could be strongarmed into a deal. at a record low of 2% for the third straight month, saying
– Reuters the economic decline has clearly eased. – AFP