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Issue: 37/2011 01 March 2011

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GLOBAL NEWS

Economists list US budget deficit

as No. 1 worry

The massive US budget deficit is the gravest

threat facing the economy, topping high

unemployment and the risk of inflation or

deflation, according to a survey of forecasters

released on Monday. The NationalAssociation for Business Economics said its

47-member panel of forecasters increased its

estimate for the 2011 federal deficit to US$1.4

trillion from US$1.1 trillion in its previous

survey in November.

"Panelists continue to characterize excessive

federal indebtedness as their single greatest

concern," with state and local government

debt the second-biggest worry, the survey

said. It was conducted between January 25

and February 9. The panel's deficit forecast is

lower than the Obama administration

projection of a record US$1.65 trillion this

fiscal year, or 10.9% of US gross domestic

product.-------------------------------------------------------------------------

Japan's jobless rate unchanged at

4.9% in January

Japan's unemployment rate stood at 4.9 per

cent in January, unchanged from a month

earlier in line with market forecasts,

government data showed Tuesday. The

number of people out of work stood at 3.09

million, down 140,000 from a year earlier, in

the eighth straight month of year-on-year

decline, the official data showed.

In this issue

GLOBAL NEWSy Economists list US budget deficit as No. 1 worry

y Japan's jobless rate unchanged at 4.9% in January

y China's US debt holdings hit US$1.16 trillion

y India Budget

y Aftershocks in Christchurch

y Beijing frozen lake

y Chinas population at 1.341 billion

y Tunisian industry minister resignsy US urges Oman to show restraint

y Robotic Run

y Singapore maids learn to save water

LOCAL NEWSy Record plantation commodity exports

y Oil price upside risk for Malaysia

y Private sector net financing up 11.5%

y Abu Kassim is No 4 in global list

y Call for entries to Malaysia Property Award 2011y Boom gates must be manned

y India labur RM200 juta kurangkan import

y Hari terakhir bayar saman kelam-kabut

INDUSTRY NEWSy Twitter worth US$4.5 bn

y Hutchinson ports eye US$5.4 bn IPO

y Australia miner Resourcehouse eyes Hong Kong IPO

y Felda Global, TNB in JV for biomass plant

y Proton falls to 14-month low

y Kencana Petroleum Secures RM115 Million Contract

y Sime Darby kaji maju ladang sawit di Cameroon

y Kedudukan kewangan TIME paling kukuh setakat ini

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Separate data showed job availability had

improved from the previous month, with 61

positions available for every 100 job seekers,

the health, labour and welfare ministry said.------------------------------------------------------------------------

China's US debt holdings now hitUS$1.16 trillion

China's holdings of long-term US Treasury

securities totaled US$1.16 trillion at the end

of December 2010, according to an annual

revision report released by the US Treasury

Department on Monday. The figure was an

increase of 30% from an estimate the

government reported on February 15.

The US Treasury made the change to its

monthly report based on more accurate

information it obtains in an annual survey.

Foreign holdings of US long-term securities

reflect demand for US Treasury obligations

and other assets including stocks and

government agency debt, a key to funding

the massive US balance of payments deficit

with the rest of the world.

------------------------------------------------------------------------------

Population now stands at 1.341

billion

The population grew to 1.341 billion by the

end of 2010, the National Bureau of Statistics

announced on Monday. The preliminary

figure, based on a sample survey, shows

China added 6.3 million people last year, up

from 1.3347 billion at the end of 2009.

The slower growth rate, compared with 2009,

has prompted some experts to suggest

adjusting the decades-old family planning

policy. The current policy limits most urban

couples to just one child. A more accurate

figure is expected to come out in April, after

the government tallies the results of the

census in 2010. A census is carried out once a

decade.-------------------------------------------------------------------------

INDIA BUDGET

A budget to tackle food inflation

India pledged yesterday to reduce its deficit

while ramping up social spending as the

government unveiled an annual budget

aimed at balancing populism with

pragmatism.

High food inflation and a spate of

embarrassing corruption scandals have put

pressure on Indias ruling Congress Party in

recent months, spooking foreign investors

and sparking street protests in advance of

crucial state elections.

In his budget speech before Parliament,

Finance Minister Pranab Mukherjee revealed

no major policy shifts, but said the much-

watched fiscal deficit would fall from an

estimated 5.1% of gross domestic product in

the year ending on March 31 to 4.6% in the

next fiscal year.------------------------------------------------------------------------------

Aftershocks shake battered

Christchurch

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Tunisia's Industry and Technology Minister

AfifChelbi resigned on Monday from the

country's interim government, the official TAP

press agency reported.

The resignation comes one day following the

resignation of the former Prime Minister

Mohammed Ghannouchi and in the wake of

resurgent clashes between demonstrators

and the police during the weekend.------------------------------------------------------------------------------

US urges Oman to show restraint

The United States said Monday it has urged

Oman to show restraint and press ahead with

reforms after deadly clashes in the strategic

Gulf ally, which lies on the busy Strait of

Hormuz oil shipping lane.

Fresh clashes erupted between Omani police

and protesters on Monday, a day after police

killed at least one as the turmoil rocking the

Arab world reached the normally calm Gulf

sultanate.

------------------------------------------------------------------------------

------------------------------------------------------------------------------

Singapore PUB taps on maids to

help with water conservation

Domestic maids are a focus of national water

agency PUBs latest Water Conservation

Awareness Programme.

For instance, a video and a handbook in

English and Bahasa Indonesia offering water-

saving tips published by PUB will be used to

train maids in maid-employment agencies.

So far, 12 agencies have sent their trainers on

a course conducted by PUB and plans to

reach out to more agencies over the next few

years are in the works.

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Issue: 37/2011 01 March 2011

LOCAL NEWS

Record plantation commodity

exports

Malaysia raked in RM113.3 billion from

plantation commodity exports last year, the

best ever performance, as global demand for

vegetable oils, rubber and cocoa butter

surpassed supply. To a certain extent, the

higher demand was also fuelled by theweakening of the US dollar against the

ringgit.

Last year's achievement was 24% higher than

2009's RM91.16 billion. It also surpassed the

previous record of RM112.43 billion in 2008------------------------------------------------------------------------------

Oil price upside risk for MalaysiaThe price of crude oil which hit US$100 per

barrel recently - its first time in more than

two years - is an upside risk for Malaysia as a

net exporter. What could stop the country

from benefiting from its net exporter status is

largely a relapse in the global economic

recovery which would affect demand for the

commodity.

Higher oil prices amid strong global demand

are an upside risk as Malaysia is a large net

exporter of oil, Nomura International (HK)

Ltd told clients in a Feb 25 report. CIMB

Research head of economics Lee Heng Guie

said for every US$1 rise in crude oil,

Malaysia's federal government revenue could

increase by up to RM450mil, over two years.------------------------------------------------------------------------------

Private sector net financing up

11.5%

Net financing to the private sector in January

increased by RM7.2bil or 11.5% annually

versus RM17.4bil or 11.3% in December,

driven mainly by increased loans outstanding

while private debt securities (PDS) issuances

moderated during the month.

Loans outstanding rose moderately by 22.2%

during the month, said Bank Negara Malaysia

(BNM) in a statement yesterday.------------------------------------------------------------------------------

Abu Kassim is No 4 in global list

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Datuk Seri Abu Kassim Mohamed , the chief

commissioner of the Malaysian Anti-

Corruption Commission (MACC), has been

named in the top five among 100 influential

people in business ethics for 2010 by theNew York-based Ethisphere Institute.

Ranked fourth on the list, he was adjudged

for his role in the government and regulatory

practices category. The other eight categories

are thought leadership, business leadership,

corporate culture, investment and research,

design and sustainability, media and

whistleblowers, NGOs and philanthropy.------------------------------------------------------------------------------

Call for entries to MalaysiaProperty Award 2011

The International Real Estate Federation

(Fiabci) Malaysia is calling for entries to the

19th Malaysia Property Award 2011. Fiabci

Malaysia is accepting entry submissions until

March 31 for projects developed in Malaysia

between year 2006 and 2010. A total of 14

award categories are offered this year,

including Environmental (Rehabitation/

Conservation), Heritage (Restoration/

Conservation), Hotel, Industrial, Master Plan,

Office, Public Sector, Purpose-Built/

Specialised Project, Residential (High Rise),

Residential (Low Rise), Resort, Retail, and

Special Award for National Contribution and

Sustainable Development.

The projects will be judged based on design,

workmanship, impact on the environment,ease of facilities management, financial

viability, marketing strategies, benefit to the

community and lifestyle improvements.

Winners will be announced in mid-

October.Winners of this programme will

automatically enter the final selection process

of the Fiabci International Prix d' Excellence

Award, which will be contested by property

development projects from 60 countries.

For more information, contact the secretariat

at 036203 5090/ 5091 or email

fiabcimalaysia@fiabci.com.my .------------------------------------------------------------------------------

Boom gates must be manned

Residents who install boom gates to protect

their neighbourhood must ensure that they

are manned at all times, Housing and Local

Government Minister Datuk Chor Chee

Heung said.

The gated community and guarded

neighbourhood guidelines, approved by theCabinet last September, also state that the

boom gates, or barriers, must not be locked

at any time.------------------------------------------------------------------------------

India labur RM200 juta

kurangkan import

India mengumumkan hari ini ia akan

memperuntuk lebih RM200 juta tahun ini bagi

penanaman lebih banyak kelapa sawit untukmengurangkan import minyak sawit,

sebahagian besarnya dari Malaysia dan

Indonesia.

Semasa membentangkan Bajet Persekutuan

bagi 2011-2012, Menteri Kewangan India,

Pranab Mukherjee, berkata, dana itu akan

digunakan untuk menjadikan 60,000 hektar

tanah sebagai ladang kelapa sawit dan untuk

menyepadukan peladang dengan pasaran.------------------------------------------------------------------------------

Hari terakhir bayar saman

kelam-kabut

Hari terakhir bayaran saman trafik di seluruh

negara hari ini bertukar kelam-kabut apabila

sistem dalam talian yang digunakan untuk

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Issue: 37/2011 01 March 2011

urusan itu tergendala, ekoran penggunaan

yang melebihi kapasiti.

Situasi itu menyebabkan orang ramai terpaksa

menunggu serta beratur panjang berjam-jam

lamanya untuk menyelesaikan urusan

pembayaran tersebut sama ada di kaunter

trafik di balai dan ibu pejabat polis daerah

mahupun di pejabat-pejabat pos di seluruh

Negara.------------------------------------------------------------------------------

INDUSTRY NEWS

Twitter may be worth nearly

US$4.5 bn

JP Morgan Chases new fund, aimed at

investing in social-media companies, is

seeking to buy a minority stake in Twitter that

could value the service at close to US$4.5billion.

The US$1.2 billion JPMorgan fund appears to

see Twitter as its beachhead in the highly

popular social-media sector, much as

Goldman Sachs established its presence in

the category by raising US$1.5 billion to

invest in Facebook, an amount that included

US$1 billion collected from wealthy privateindividuals outside the United States.

------------------------------------------------------------------------------

Hutchison ports unit IPO eyes

US$5.8 bn IPO in Singapore

HUTCHISON Whampoas ports unit is looking

to raise as much as US$5.8 billion in an initial

public offering in Singapore, allowing

investors to tap intoC

hinas boominginfrastructure business.

South-east Asias biggest listing comes at a

time when intra-Asia sea-borne trade is

swelling, and global container-shipping firms

are putting more ships and resources to serve

Asian routes from Europe and North America.

The assets of the Hutchison subsidiary,

Hutchison Port Holdings (HPH) Trust, are

located in Hong Kong and Shenzhen, two ofthe worlds busiest container ports in 2009

with a total throughput of 39.2 million

twenty- foot equivalent units.

It would be the first publicly traded business

trust backed by port assets, according to the

prospectus, and would exceed Malaysias

Petronas Chemicals US$4.1-billion listing last

year, which has so far been the biggest listing

in the region.------------------------------------------------------------------------------

Australia miner Resourcehouse

eyes Hong Kong IPO

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Australian miner Resourcehouse plans to

raise US$3 billion in a Hong Kong initial

public offering, a report said Monday, the

latest miner to eye a listing in the Asian

financial hub. The firm, controlled bybillionaire Clive Palmer, began pre-marketing

the sale Monday, its third attempt to list in

Hong Kong, Dow Jones Newswires reported,

citing an unnamed source.

During pre-marketing, a company and its

bankers gauge investor interest in an IPO and

come up with a price range for the deal.------------------------------------------------------------------------------

Felda Global, TNB in JV for

biomass plant

Felda Global Group and Tenaga Nasional Bhd

have formed a 60:40 joint-venture company,

FTJ Bio Power Sdn Bhd, and invest RM120mil

to set up a plant that will generate electricity

using purely oil palm empty fruit bunches

(EFB).

The construction of the plant is scheduled to

commence soon on a 4.2ha site in Jengka 9,

Pahang and be fully completed in December

2012. The plant will be able to generate 12.5

million watts of electricity.

Proton falls to 14-month low

Shares of Proton Holdings Bhd fell 23 sen to

a 14-month low of RM3.86 yesterday, its

lowest since Dec 22, 2009, after the national

carmaker posted losses in its third quarter

ended Dec 31, 2010.

Automotive analysts also revised downwards

their earnings forecast for Proton's current

financial year ending March 31, 2011 (FY11)

following its poor financial performance.------------------------------------------------------------------------------

Kencana Petroleum Secures

RM115 Million Contract From

Petrofac

Kencana Petroleum Bhd has secured acontract from Petrofac E&C Sdn Bhd for the

engineering, procurement, construction and

commissioning (EPCC) of Mobile Offshore

Production Unit (MOPU) and Wellhead

Support Structure (WESS), worth RM115

million.

The contract was secured through its wholly-

owned subsidiary, Kencana HL Sdn Bhd.

Kencana Petroleum, in a filing to BursaMalaysia, said the MOPU and WESS' EPCC

contract was for the Sepat Early Production

System off the coast of Terengganu. It is a

one-off EPCC contract and is expected to be

delivered to the ultimate client, Petronas

Carigali Sdn Bhd, within the third quarter of

this year. The contract is expected to

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contribute positively to the earnings of the

company for the financial year ending July 31,2011 and 2012.------------------------------------------------------------------------------

Sime Darby kaji maju ladang

sawit di Cameroon

SIME Darby Bhd, syarikat perladangan

senaraian awam terbesar dunia, sedang

memperhalusi rancangan mema-jukan ladang

sawit seluas 300,000 hektar dengan anggaran

pelaburan mencecah RM7.5 bilion di

Cameroon berikutan permintaan dan harga

kukuh komoditi itu.

Ketua Eksekutifnya, Mohd Bakke Salleh,

berkata pelaburan itu adalah prospek terbaik

untuk kumpulan menambah simpanan

tanahnya seluas 640,000 hektar selepas ia

memperoleh konsesi ladang sawit seluas

220,000 hektar di Liberia.------------------------------------------------------------------------------

Kedudukan kewangan TIME

paling kukuh setakat ini

TIME dotCom Bhd merekodkan prestasi

kewangan paling kukuhnya setakat ini dengan

mencatatkan keuntungan sebelum cukai

RM88.9 juta bagi tahun yang berakhir pada 31

Disember 2010, daripada RM33.1 juta pada

2009. Syarikat tersebut berkata, peningkatanitu adalah hasil daripada pendapatan yang

bertambah baik diterajui oleh pengembangan

perniagaan datanya, terutamanya dalam

segmen borong dan lebar jalur global.

Disokong oleh peningkatan dalam

pendapatan, kumpulan itu juga mencatatkan

keuntungan besar daripada operasi yang

meningkat 130 peratus bagi tahun itu,

melonjak daripada RM15.7 juta pada 2009kepada RM36.1 juta pada 2010. Tidak

termasuk penyelarasan butiran luar biasa

seperti urus niaga sekali dan pendapatan

daripada jualan perniagaan telefon bayarnya

pada 2009, pendapatan berbanding

meningkat 27 peratus daripada RM249.7 juta

kepada RM317.3 juta.-------------------------------------------------------------------------