HO CHI MINH CITY, July 29 (Bernama) — The Malaysian Government will continue to promote outward investments, particularly to Association of South-East Asian Nations (Asean) member states, and is offering various incentives and facilities to promote cross-border investments.

“Malaysian companies should be aware of development in Asean, which is committed to realising the free flow of goods, services and investments within the region by 2015,” Minister of International Trade and Industry, Tan Sri Muhyiddin Yassin, said at a luncheon for representatives of Malaysian companies here Tuesday.

Muhyiddin said his ministry and its agencies, such as Malaysian External Trade Development Corp, Malaysian Industrial Development Authority and Small and Medium Industries Development Corp, would continue to help Malaysian companies venture overseas.

See Bernama for Full Article

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KUALA LUMPUR (Thomson Financial) - Malaysian shares closed slightly lower on Tuesday as investors took profits following a sharp fall on Wall Street overnight on renewed credit concerns and rising oil prices.

Bargain-hunting kept the key index off its lows.

The Dow Jones industrial average dropped 2.1 percent on Monday after the closure of branches at some regional banks revived fears about the state of U.S. credit markets.

A $1.47 rise in light, sweet crude to $124.73 a barrel on the New York Mercantile Exchange further unnerved investors, who remain worried that oil prices could climb higher.
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KUALA LUMPUR, July 30 (Bernama) — The Kuala Lumpur Composite Index (KLCI) futures contracts on Bursa Malaysia Derivatives closed higher following the steadier cash market, dealers said.

The market rebounded from Tuesday’s losses, taking its cue from the rally in regional markets following reports of higher American consumer confidence and an improved outlook for the US credit market crisis.

July 2008 rose 15 points to 1,160.5, August 2008 gained 16.5 points to 1,150.5 while September 2008 advanced 18.5 points to 1,144 and December 2008 increased 16.5 points to 1,122.5

Turnover was lower at 17,055 lots from 40,834 Tuesday while open interest was higher at 49,038 contracts from 45,129.

On the cash market,the underlying KLCI gained 9.14 points to 1,159.94.
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Ibraco Berhad (KLSE:5084) has recorded first half pre-tax profit of RM3.207 million (US$982,778) compared to a pre-tax loss RM10.674 million a year earlier thanks to the sale of land in the second quarter.

The Kuching-based housing developer booked the pre-tax profit on the back of revenue of RM60.629 million for the six months ended 30 June 2008, up 69.6 per cent from RM35.743 million in the previous corresponding period.

Earnings per share improved to 1.43 sen against a loss of 11.29 sen previously. For the second quarter, Ibraco achieved a pre-tax profit of RM5.223 million against a pre-tax loss of RM5.192 million a year before.
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KUALA LUMPUR, July 30 (Bernama) — The Kuala Lumpur Composite Index (KLCI) futures contracts on Bursa Malaysia Derivatives rebounded from Tuesday’s losses on the steadier cash market, dealers said.

Investors were also inspired by gains on overnight Wall Street and a drop in oil prices.

Oil prices fell to US$123 per barrel on falling demand in the U.S.

As at 9.50 am, July 2008 gained 13.5 points to 1,145.5, Aug 2008 rose 16 points to 1,134, Sept 2008 advanced 14.5 points to 1,125.5 and Dec 2008 went up 14 points to 1,105.

Turnover stood at 3,371 lots and open interest at 49,038 contracts.

On the cash market, the underlying KLCI advanced 10.73 points to 1,161.53 at 9.40 am..

– BERNAMA

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KUALA LUMPUR (Thomson Financial) - Malaysian shares closed slightly lower on Tuesday as investors took profits following a sharp fall on Wall Street overnight on renewed credit concerns and rising oil prices.

Bargain-hunting kept the key index off its lows.

The Dow Jones industrial average dropped 2.1 percent on Monday after the closure of branches at some regional banks revived fears about the state of U.S.

credit markets.

A $1.47 rise in light, sweet crude to $124.73 a barrel on the New York Mercantile Exchange further unnerved investors, who remain worried that oil prices could climb higher.

The Kuala Lumpur Composite Index (KLCI) finished down 3.29 points or 0.3 percent at 1,150.80, off a low of 1,143.55.
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KUALA LUMPUR, July 29 (Bernama) — UPS Malaysia has recorded more than 10 percent growth in its export volume in the second quarter over the same period last year, a reflection of the strength and success of its business model.

UPS Malaysia managing director Vivian Chuah said despite sluggishness in the overall global economy, the company has consistently pursues a strong focus on service excellence and efficiency.

In a statement here Tuesday, she said customer experience mattered to the company in its continuous efforts to stretch and enhance the delivery of end-to-end supply chain services.

The contribution from Malaysia’s export growth has also driven strong export growth in Asia, she added.

UPS Asia Pacific president Derek Woodward said that the company’s export volume growth in Asia was driven by strong export volume from South Asia, including more than 20 percent growth from India and contribution from Malaysia.
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KUALA LUMPUR, TUES:

At 10.30 a.m. today, there were 92 gainers, 239 losers and 133 counters traded unchanged on the Bursa Malaysia.

The KLCI was at 1,148.55 down 5.54 points, the FBM2BRD was at 5,496.37 up 23.94 points, and the FBMEmas was at 7,633.84 down 34.69 points.

Turnover was at 197.434 million shares valued at RM147.284 million.

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KUALA LUMPUR, TUES: Source: The News Straits Times

The ringgit opened firmer against the U.S dollar today as the greenback eased on the back of a more slowing economy in the U.S. amid losses among U.S. financial firms, said dealers.
At 9.05 am, the local currency strengthened at 3.2530/2565 against the greenback compared to Monday’s closing of 3.2650/2670.

The ringgit was on a downtrend yesterday since Bank Negara Malaysia announced that the overnight policy rate (OPR) would be retained at the current level of 3.5 percent.

With the central bank’s decision, dealers expects the ringgit to move in a tight range this week due to lack of fresh leads in the market.
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I did not write this article, and could be of interested for those of you who are interested to know a bit about the Automotive Industry in Malaysia. Sorry this is a off topic from KLCI, but worth a share.

Here goes …

Malaysia is a member of the Association of South East Asian Nations (ASEAN), a regional trading block with combined annual vehicle sales of 1.5 million units (1996, pre financial crises.) Before the beginning of the current economic crisis in 1997, Thailand was the largest automotive market within the ten-nation ASEAN, with Indonesia ranking second in the group, followed by Malaysia, and then the Philippines. For 1997 and 1998, Malaysia was the largest vehicle market, followed by Thailand, then the Philippines and Indonesia (vehicle sales in 1998 for the entire ASEAN market were down 73 percent compared to the pre crisis levels of 1996.) The other ASEAN nations include Brunei Darussalam, Burma (Myanmar), Cambodia, Laos, Singapore and Vietnam.

Malaysia’s 1995 unit vehicle sales were approximately 286,000 units. Sales in 1996 were 365,000. Malaysia did not begin to feel the affects of the economic crisis until late in 1997, allowing Malaysia to have another year of vehicle sales growth. Vehicle sales were up 11 percent in 1997 to a record 405,000 units. The economic crisis dramatically impacted vehicle sales in Malaysia for 1998, with vehicle sales dropping by 60 percent, to 164,000.
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