16  theSun | THURSDAY MAY 28 2009

business

Business community hails MASwings’ fare discount

TAWAU: The business community here
welcomed MASwings’ offer of lower
fare for Tawau-Sandakan flights via
its “Amazing Deal” promotion which
offers discount of up to 50%.
Tawau Chinese Chamber of Com-
merce chairman Yap Yiw Sin said the
offer would encourage more business-
men to use MASwings’ flights between
Tawau and Sandakan and vice versa.
“The move is good because prior to
the offer, the return fare for the flight
was high, which is over RM200.”
Yap said usually, businessmen who
wanted to save transportation cost,
would use the road but this would take
a long time as the distance between
the two places was long.
Bookings for the promotional fares
can be made via MASwings’ website,
www.maswings.com.my at least 21
days before the flight.
The booking period starts from
now to July 31, 2009 for travel ending
on Dec 31, 2009.
Meanwhile, MASwings managing
director, Salleh Tabrani, said the do-
mestic demand was encouraging de-
spite the global economic slowdown.
“The ‘Amazing Deal’ promotion is
another of our commitment as a com-
munity airline,” he said.
MASwings also announced the
reduction in fare of up to RM45 for the
Sibu-Bintulu route. – Bernama

You want to Economy contracts by

broaden your
horizons
we give you
6.2% in first quarter
KUALA LUMPUR: Malaysia’s first quarter
the world gross domestic product this year contracted
by 6.2% from a growth of 0.1% in the fourth
quarter last year but the prognosis for im-
proved economic conditions look brighter in
the second half of the year.
Bank Negara Malaysia Governor Tan Sri
Dr Zeti Akhtar Aziz, in announcing the GDP
figures, attributed the contraction to the sig-
nificant deterioration in external demand fol-
lowing the deepening recession in advanced
economies.
“Export demand continues to be weak
Go places with a bank that gives you international and the environment is still challenging.
exposure. Despite early signs of improvement, Q2 will
be similar to Q1,” she told a press conference
Standard Chartered is focused on being the world’s best international bank, by being on the country’s economic performance here
the right partner to our customers and attracting and developing the best people to yesterday.
work together across our global network. The economy was expected to continue to
contract in the second quarter, she said.
At Standard Chartered Bank, we employ 73,000 people in 70 markets worldwide. We “However, economic conditions are ex-
offer a world of experience through short-term and long-term cross-border assignments, pected to improve in the second half of this
a multicultural environment and job rotation opportunities across businesses and year supported by fiscal stimulus measures
functions. Make a real difference at the bank with over 150 years’ experience in Asia, and enhancing access to financing,” said Dr
Africa and the Middle East. Zeti.
“Malaysia is expected to see a significant
improvement in the third quarter this year
and a higher degree of positive growth in the
International Graduate Programme fourth quarter that would continue into next
year.”
- Consumer Banking “There will be improvement, but it will
also depend on both the external and domestic
Do you want to work with one of the biggest players in the world’s highest growth environment as well,” she said.
markets? Do you value an ideas-rich, service-centric environment where you can be “If the measures taken by other economies
creative and analytical? Are you enthusiastic, dynamic and driven? Then we want to do take place, then Q2 would have seen the
work with you to translate ideas into winning products for our customers. worst, she added.
Elaborating on the first quarter contrac-
Consumer Banking is the largest business division of Standard Chartered. Our rapidly tion, Dr Zeti said it was contributed also by the
expanding global footprint currently spans close to 40 markets in Africa, Asia and the large inventory drawdown, particularly in the
Middle East. manufacturing and commodity sectors.
Fixed investment registered a decline due
We’re a dynamic business that demands continuous innovation to provide financial to weaker business sentiment. Public spending
solutions that meet the needs of 12 million customers at different stages of their lives. however, provided some support to growth.
Our broad product range includes credit cards, personal loans, mortgages, transaction On the supply side, all sectors recorded
banking, wealth management and private banking services to individuals and SMEs. contraction except for the construction sector.
Compared with the first quarter of last year,
Why choose Consumer Banking?
• The chance to work in exciting, fast-paced markets where you’re close to the
customer.
• Opportunities to lead teams, deliver service excellence and translate great ideas into
the manufacturing sector declined signifi-
cantly by 17.6% (Q4’08: -8.8%). This was led
by a 23.1% contraction in the export-oriented
industries and the electrical and electronic
industry which contracted by 41.4%.
The services sector saw a marginal decline
of 0.1% (Q4’08: +5.7%) primarily affected by
sub-sectors closely linked to the manufactur-
ing sector.
The agriculture sector recorded a contrac-
tion of 4.3% (Q4’08: +0.5%) due to lower output
of both palm oil and rubber.
The decline in the mining sector of 5.2%
(Q4’08: -5.7%) was due to falling crude oil and
natural gas production.
Meanwhile, the construction sector, turned
around to register a positive growth of 0.6%
(Q4’08: -1.6%) due mainly to an increase in
construction of office space and the high end
segment of the residential sub-sector.
Inflation rate moderated to 3.7% in the first
quarter (Q4’08: 5.9%) due mainly to lower
inflation in the food and non-alcoholic bever-
ages and transport categories.
Headline inflation continued to moderate
to 3.0% in April. In the external sector, Malay-
sia’s trade surplus remained large at RM32.7
billion as the contraction in imports exceeded
that of the contraction in exports.
The international reserves of Bank Negara
amounted to RM320.7 billion as at March 31,
2009 and remained stable at RM321.5 billion
as at May 15, 2009.
The reserves position is sufficient to finance
8.3 months of retained imports and is 3.8 times
the short-term external debt.
Meanwhile, when asked if Malaysia was in
a recession, Zeti said: “We always look at two
quarters of negative growth as recession. But it
is not constructive to look at it this way.”
She said it must be looked at from whether
Malaysia had the prospect of coming out the
economic downturn.
“Yes, it does (to come out of the downturn).
We are not facing a financial crisis and we are
not over-leveraged,” she said. – Bernama

briefs
winning products.
• Use your insight to anticipate market trends and identify services that meet our
customers’ needs.
Want to learn more?
Please visit our website for detailed information on Consumer Banking, your experience Amirsham appointed
on the programme, skills we are looking for and our on-line application form. chairman of economic council
How to apply? PUTRAJAYA: Former minister in the Prime Min-
ister’s Department Tan Sri Amirsham Abdul Aziz
If you possess a Master’s Degree and have a desire to build an extraordinary career in has been appointed as chairman of Malaysia’s
Banking, please visit us at www.standardchartered.com/graduates. Economic Advisory Council, with minister status
Closing date for application is on 31 May 2009. but not member of the Cabinet, effective this
Monday.
Prime Minister Datuk Seri Najib Abdul Razak
Please go to www.standardchartered.com/careers for other exciting frontline careers said the council will report directly to him and
in Consumer Banking. among its functions would be to advise the gov-
ernment on the establishment of a new economic
model for the country which will be centred on
innovation, creativity and high value additions.
This will be in line with strategies to push up
the country’s economic status from middle in-
come earner to high income earner and towards a
developed nation status in 2020, he told reporters
here yesterday.
He said an announcement will soon be made
on the members of the council who will comprise
local and foreign economic experts. – Bernama
28 weekly flights on MAS
Penang-Singapore route
KUALA LUMPUR: Malaysia Airlines (MAS)
customers will enjoy 28 weekly direct flights
between Penang and Singapore, and vice
versa beginning June 1.
“Offering passengers more flight options
which give them greater travel flexibility and
convenience is made possible with the expan-
sion of the code share agreement between
Malaysia Airlines, Singapore Airlines and
Silk Air,” the airline said in a statement here
yesterday,
Malaysia Airlines senior general man-
ager, network and revenue management,
Dr Amin Khan, said there are already 92
weekly flights from Kuala Lumpur, 10 from
Langkawi, nine from Kota Kinabalu, and 12
weekly flights between Kuching and Singa-
pore, he added.
Tickets for the code share flights for Pen-
ang to Singapore is available for purchase and
the first flight will be on June 1.
MAS is currently offering a RM98 all-inclu-
sive one way fare for flights between Malaysia
and Singapore. – Bernama