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MALAYSIAeBiz
WEEKLY BUSINESS ROUNDUP 16 - 18 FEBRUARY, 2015
This Week’s Highlight :
Govt To Enhance Efficiency Of Services For
All Communities - Najib
REUNION…A family enjoys reunion dinner on the eve of Chinese New Year. The
Chinese celebrate the new year Thursday and Friday. --fotoBERNAMA
KUALA LUMPUR -- The government
will continue to enhance the efficiency
and integrity of its services to assist all
communities, Prime Minister Datuk
Seri Najib Tun Razak said Tuesday. It
would continue to serve the 1Malaysia
commitment of a united nation as the
country neared Vision 2020, he said. In
his 2015 Chinese New Year message
posted on his blog, NajibRazak.com,
the prime minister said the Lunar New
Year was one of the biggest celebrations
in the country as it signified the turn of
the Chinese calendar and the beginning
of a new chapter in life. He said it was
the time when family and friends came
together in celebration and in gratitude
to appreciate the old and embrace the
new. Despite the challenges of last
year, Chinese New Year represented a
new beginning for Malaysia, Najib said
and expressed the hope that the year
of the peace-loving Goat would bring
continued harmony and strength in unity
for Malaysia.
This Week’s Top Stories
Monday
Final TPPA Cost-Benefit Study To
Conclude By June
KUALA LUMPUR -- The government
is expected to conclude its final CostBenefit Analysis (CBA) regarding the
Trans-Pacific Partnership Agreement
(TPPA) by the end of June this year,
says International Trade and Industry
Minister Datuk Seri Mustapa Mohamed.
He said a few outstanding issues
need to be resolved and talks on the
proposed regulatory and investment
treaty are still ongoing to ensure it is
in Malaysia’s favour. “We are going to
execute the final CBA study in the near
term, collaborating with an international
firm, on whether the TPPA is beneficial
for the country or otherwise,” he told
reporters after the ministry’s session
with Heads of Foreign Missions here
Monday. He said the CBA revolves
around four issues, starting with the
TPPA’s impact on the nation, including
the country’s sovereignty and whether it
would affect the weightage in delivering
the government’s policies. The second
is the TPPA’s impact on Small and
Medium Enterprises (SMEs), followed by
repercussions on Bumiputeras, while the
fourth issue looks at the repercussions
if the country chose not to participate in
the TPPA, Mustapa said.
FEBRUARY 18, 2015
in April. International Trade and Industry
Minister Datuk Seri Mustapa Mohamed
said the visit, involving 15 council
members, would explore other economic
sectors, including infrastructure and the
consumer market. “This is a natural
progression in our ties. We started from
a very low base and moved up as we
become closer. It is essential to have
a business council to further promote
ties to complement what we do on the
government side,” he added. Mustapa
told reporters this after officiating the
Malaysia-Kuwait Business Council
inaugural meeting here Tuesday. Trade
between Malaysia and Kuwait was at a
staggering US$1.8 billion in 2014 from
the RM840 million in the previous year,
comprising heavy exports of crude and
refined petroleum.
Wednesday
316,785 Companies GST Ready,
Customs Rakes In RM24 Bln In
Tax
KUALA TERENGGANU -- A total of
316,785 companies have registered
for the Goods and Services Tax (GST)
to be implemented on April 1 against
an initial target of getting 240,000
companies to register for the tax.
Deputy Finance Minister Datuk Ahmad
Maslan said the increase in the number
of GST-ready companies had resulted
in tax collection improving by RM1
billion to RM24 billion. He said various
awareness programmes and proactive
measures taken by the Royal Malaysian
Customs Department had resulted in the
encouraging numbers. Ahmad Maslan
said the GST would not only ensure
a fair and transparent tax regime but
also weed out the dirty tactics of some
traders who make false claims.
Tuesday
M’sia Keen To Boost Trade Ties
With Kuwait
KUALA LUMPUR -- Malaysia is looking
to boost and diversify its trade relations
with Kuwait through an exploratory visit
by the Malaysia-Kuwait Business Council
© 2014 BERNAMA. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
MALAYSIAeBiz : 1
SMEbrief
SMEs Among M’sian Users
Projected For .ML Domain
KUALA LUMPUR -- Dot ML, a
domain provider, projects SMEs
as being among the two to three
million Malaysian users registering
for its .ML domain. Chief Operating
Officer Jeremie Godreche said the
zero ownership cost and speedy
registration for the domain are
strategies to attract the 20 million
Malaysian online users. “With .ML,
users and SMEs can further promote
their business. The usage period for
the domain name can go up to 10
years, depending on the needs of
the users,” he said. Godreche told
reporters this after the launch of the
.ML domain here Monday. Those
interested in registering for the free
domain can do so at www.dot.ml.
Dot ML, a subsidiary of Freenom,
a Dutch corporation, formed .ML
with Agence des Technologies de
Information et de la Communication
(AGETIC), a Mali-based governmental
MALAYSIAeBiz
infrastructure and communication Agro-Entrepreneurs Urged
To Market Products At Agro
organisation.
Bazaar-K Shoppe
Former TUBE Participants Doing KUALA TERENGGANU -- Small
Well In Business - SME Corp
and Medium Enterprises (SMEs)
MARANG -- Ninety four participants of in Terengganu have been urged to
the Bumiputera Youth Entrepreneurs promote their products through the
(TUBE) programme held last year newly opened Agro Bazaar-K Shoppe
have successfully ventured into here. Agro Bazaar-K Shoppe owner
various businesses, says SME Corp Norhaslinda Zakaria said only 15
Terengganu Director Muhammad
Ibrahim. “They operate restaurants, SMEs, mostly traditional Terengganu
tailor shops, hairdressing salons food and drinks businesses, have
and beauty parlours and now even been promoting their products here.
a gymnasium,” he told reporters “Among the popular products are
at the opening of Shredded Gym, bird’s nest drinks, frozen foods,
a fitness centre-cum-gymnasium various kinds of chips and dodol.
here Monday. He said through the What is really special is that the
cooperation of the Terengganu products sold here are also getting
Entrepreneur
Development the Federal Agricultural Marketing
Foundation, all former entrepreneurs Authority’s (FAMA) support,” she
were given grants apart from told reporters Monday. The Agro
counselling sessions and business Bazaar-K Shoppe is one of FAMA’s
guidance from time to time. “SME initiatives to help agro-entrepreneurs
Corp will continuously monitor their
progress and assist them wherever run their wholesale or retail business
at premises owned by other
possible,” he added.
entrepreneurs.
Propertyupdate
PropUP
Forest City’s Scaled Down Devt
To Lower GDV By 20-30 Pct
JOHOR BAHARU -- The development
of Forest City project, the size of
which has been scaled down twice,
is likely to see a reduction of between
20 per cent and 30 per cent in gross
development value (GDV) from the
initial estimate of RM600 billion.
Country Garden Pacificview Sdn Bhd
Executive Director Datuk Md Othman
Yusuf said the project has now been
scaled down to 1,386 hectares from
the originally plan to develop 1,978
hectares. He said the project, which
would take about 10-20 years to fully
complete, was already scaled down
once from its original size to 1,624
hectares. “Once we have done with
the calculation, we will announce the
new cost. We are anticipating some
reduction from the original cost,”
he told reporters during a media
luncheon here Monday. The new
estimates would be based on the
latest gross floor area, he added. Md
Othman said following the green light
from the Department of Environment
and with the approval of the project’s
detailed environmental impact
assessment on Jan 9, the company
would resume reclamation work for
the first phase after the Chinese New
Year holidays. Since June last year,
the company ceased reclamation
work for the first phase.
Mah Sing also said it posted a 15
per cent growth in total sales volume
at a record RM3.43 billion, which
bolstered its overall performance
for the 2014 financial year. The
group said the commendable result
was attributable to the higher work
progress and sales from Mah Sing’s
ongoing development projects such
as the Icon City in Petaling Jaya,
Garden Residence, Clover@Garden
Residence and Garden Plaza in
Cyberjaya, M-City in Jalan Ampang
Mah Sing Net Profit Up 20.9 Pct and M Residence in Rawang.
To RM339.2 Mln
Mah Sing’s unbilled sales position
KUALA LUMPUR -- Mah Sing Group continued to advance to about
Bhd’s net profit for the full year ended RM5.264 billion as at Dec 31, 2014,
Dec 31, 2014 rose to RM339.2 it said.
million or 20.9 per cent compared
to RM280.6 million, in the previous
financial year. Revenue increased
to RM2.9 billion or 44.8 per cent
against RM2 billion previously, it
said in a statement here Monday.
© 2014 BERNAMA. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
MALAYSIAeBiz : 2
MALAYSIAeBiz
MARKET
Exchange Rate
(Ringgit : Foreign Currency)
Scoreboard
Buying
Selling
Gainers - 381
USD
3.6180
3. 6230
Losers - 276
EUR
4.1267
4. 1335
Not Traded - 830
GBP
5.5580
5. 5671
Unchanged - 284
100 YEN
3.0363
3.0407
SGD
2.6597
2. 6653
Value - 887485523
Volume - 8970443
BURSA: KL Shares Close Lower
KUALA LUMPUR -- Bursa Malaysia
closed lower Wednesday, weighed on by
losses in RHB Capital, MISC and Hong
Leong Bank, dealers said.
At 12.30 pm, the benchmark FTSE
Bursa Malaysia KLCI (FBM KLCI)
ended at 1,807.87, down 2.22 points
after hovering between 1,806.17 and
1,815.95.
A dealer said trading was thin as the
market was shortened to half-day trading
in conjunction with the Chinese New Year
celebration.
He added that traders trimmed positions
ahead of the long holiday but kept
position in some of the heavyweights.
The dealer said traders also remained
cautious over the weak sentiment fuelled
by the ongoing Greek debt saga and
despite rising crude oil prices providing
some comfort, especially to oil and gas
counters.
On the scoreboard, losers led gainers
381 to 276, while 284 counters were
unchanged, 830 untraded and 20 others
suspended.
Total turnover contracted to 897.03
million units worth RM887.37 million
from 1.66 billion units valued at RM1.49
billion on Tuesday.
The local bourse will be closed through
Friday for the festive celebration.
Source: Bank Negara Malaysia
In the morning, BNM called for seven
tenders, namely two conventional money
market, three repo and two Al-Wadiah.
The central bank also conducted a late
conventional money market tender
for RM21 billion and a RM4 billion AlWadiah money market tender, both for
five-day money.
The overnight Islamic reference rate
stood at 3.21 per cent, while the one-,
two- and three-week rates stood at 3.28
per cent, 3.32 per cent and 3.36 per
cent, respectively.
KLIBOR Futures
Close Untraded
Contracts
KUALA LUMPUR -- The three-month
Kuala Lumpur Interbank Offered Rate
FOREX: Ringgit Ends 3-Day (KLIBOR) futures contracts on Bursa
Malaysia Derivatives closed untraded for
Trading Week Lower
KUALA LUMPUR -- The ringgit ended the the third consecutive day Wednesday.
three-day trading week lower against the
US dollar, in line with other Asian currencies Spot month February 2015 was pegged
and ahead of the extended Chinese New at 96.21, while both March 2015 and
April 2015 each stood at 96.24 and June
Year holiday.
2015 remained at 96.23. Open interest
At 5 pm, the local note was quoted at amounted to 1,450 contracts.
3.6180/6230 against the greenback from
At the 11 am fixing, the underlying
3.5845/5875 Tuesday.
three-month KLIBOR stood at 3.79 per
The local market will be cut short due to the cent.Bursa Malaysia and its derivatives,
Chinese New Year celebrations on Thursday which were only traded at half-day
and Friday. Meanwhile, a dealer said Wednesday,will be closed on Thursday
traders’ focus would now be shifted to the and Friday for the Chinese New Year
US Federal Reserve’s latest policy meeting holiday.
minutes to be released later Wednesday.
The ringgit was traded lower against
the Singapore dollar, weakened to
2.6597/6653 from Tuesday’s 2.6442/6474
and slid against the yen to 3.0363/0407
from 3.0211/0246 previously. The local
curency ended lower against the pound at
5.5580/5671 from 5.5008/5061 Tuesday
and depreciated against the euro to
4.1267/1335 from 4.0688/0729
KLCI Futures Close Higher
KUALA LUMPUR -- The FTSE Bursa
Malaysia KLCI futures (FKLI) contract on
Bursa Malaysia Derivatives ended the
half-day trading session on a higher note
despite a weaker cash market.
The market was spurred by buying
activities ahead of the Chinese Lunar
festival. At the 12.30 pm close, both
February 2015 and March 2015 ended
Money Market: Short-Term Rates 5.5 points better to 1,809 and 1,808.5
respectively, June 2015 gained 4.5
Stable On BNM Intervention
KUALA LUMPUR -- Short-term interbank points to 1,808.5 and September 2015
rates ended stable Wednesday on Bank edged up 0.5 point to 1,800.5.
Negara Malaysia’s (BNM) intervention to
reduce excess liquidity in the financial Total turnover rose to 6014 lots from
system. The liquidity surplus in the Tuesday’s 2,654 lots while open
conventional system eased to RM21.03 interest widened to 38,659 contracts
billion from RM30.13 billion earlier, while in from 35,488 contracts Tuesday. The
the Islamic system, the surplus dwindled to underlying FBM KLCI finished 2.22
points lower at 1,807.87.
RM4.7 billion from RM7.23 billion.
© 2014 BERNAMA. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
MALAYSIAeBiz : 3
Banking
&Finance
Utusan, Affin Islamic In RM30
Mln Loan Facility Deal
KUALA LUMPUR -- Utusan Melayu
(Malaysia) Bhd has entered into a
facility agreement with Affin Islamic
Bank Bhd for the provision of a
RM30 million Tawarruq Revolving
Credit-i loan. Utusan said in a filing
to Bursa Malaysia Tuesday that the
loan facility will be used to finance
its working capital requirements. “It
would also not have any effect on the
issued and paid-up capital of Utusan
or the shareholding of substantial
shareholders,” it added.
Revision Of Motor Insurance
A
Continuation
Of
Rate
Adjustments - PIAM
KUALA LUMPUR -- The General
Insurance Association of Malaysia
(PIAM) clarified Tuesday that the
revised motor insurance premium
was a continuation of the motor
tariff premium rate adjustments
under the new motor framework. It
said the adjustments of motor tariff
premium rates for 2015 would take
effect from Feb 23, as announced
recently by Bank Negara Malaysia.
“The revisions are only applicable to
private cars, public taxis and express
buses while the rates for other types
of vehicles will remain the same,”
it said in a statement here Tuesday.
The adjustment would be applicable
for policies purchased or renewed
beginning Feb 23. The framework,
introduced by Bank Negara in 2012,
would not only address the structural
issues within the motor insurance
sector but also promote a liberalised
insurance sector, the central bank
added.
Maybank Islamic Named
Best Private Bank For Islamic
Services
KUALA LUMPUR -- Maybank Islamic
has been for the second consecutive
year, named the Best Private Bank for
Islamic Services by Financial Times
The Banker. After first winning the
globally recognised award in 2013,
this latest accolade adds to the
Maybank group’s recent recognition
by Euromoney’s Private Banking and
Wealth Management Survey 2015.
MALAYSIAeBiz
For the sixth time, the bank won
the “Best Private Banking Services
Overall (Malaysia)” and six subcategory awards. “These awards
are a recognition of Maybank’s
Wealth Management capabilities
and strength, as it leverages on the
group’s segment led model and
client centric approach,” Maybank
said in a statement Tuesday.
1MDB Concludes Strategic
Review
KUALA LUMPUR -- 1Malaysia
Development
Bhd
(1MDB)
Wednesday announced the outcome
of a strategic review which began in
January of its business, to enable the
company to maximise value for the
Ministry of Finance and ultimately
the people of Malaysia. In conducting
the strategic review, 1MDB said it
was mindful of its vision and mission:
to act as a strategic enabler for
new ideas and sources of growth,
and to drive sustainable economic
development in Malaysia. “1MDB’s
purpose is to serve as a catalyst,
developing assets and projects of
strategic importance, with a view
to creating maximum value for the
economy,” 1MDB President/Group
Executive Director Arul Kanda, who
led the review, said in a statement
here Wednesday. He said its
achievements include consolidating
its separate energy assets under Edra
Energy with a unified management
team and board; establishing the
platform for developing the Tun
Razak Exchange (TRX) as a financial
centre; and successfully positioning
the Bandar Malaysia development
master-plan. “Having achieved this,
1MDB will not undertake any new
investments or projects and we have
developed a clear strategy for each
of our existing businesses moving
forward,” Arul said.
Alliance’s Pre-Tax Profit
Declines To RM168.23 Mln For
Q3
KUALA LUMPUR -- Alliance Financial
Group Bhd’s pre-tax profit declined
to RM168.23 million for the third
quarter ended Dec 31, 2014 from
RM181.49 million in the same period
of 2013. Revenue, however, was
higher at RM349.83 million from
RM328.63 million. For the ninemonth period, Group Chief Executive
Officer Joel Kornreich said the bank
posted a stronger pre-tax profit of
RM578.58 million on the back of
higher revenue of RM1.07 billion,
driven by increased net interest
and non-interest income. In a filing
to Bursa Malaysia here Monday,
Alliance said interest income grew
9.8 per cent to RM634.5 million,
up from RM577.6 million in the
corresponding period in 2013, due
to loans expansion in the consumer
and business banking segments.
Non-interest income, on the other
hand, registered a moderate growth
of 0.8 per cent to RM273.7 million
for the first nine months, while the
non-interest income ratio stood at
26.3 per cent. Kornreich said the
bank’s two core areas of focus,
consumer financing and Small and
Medium Enterprises (SMEs) lending,
continued to register above-industry
growth rates.
MBSB’s Pre-Tax Profit
Increases To RM932.56 Mln In
FY14
KUALA LUMPUR -- Malaysia Building
Society Bhd (MBSB) posted a higher
pre-tax profit of RM932.56 million
in the financial year ended Dec 31,
2014 against RM932.35 million
registered a year ago. In a filing to
Bursa Malaysia here Monday, the
company said revenue rose RM2.61
billion during the period under review
from RM2.54 billion chalked up in the
corresponding period. President and
Chief Executive Officer Datuk Ahmad
Zaini Othman said the company had
secured another set of sturdy results
for 2014. “Due to this exceptional
performance, the board has decided
to accelerate the adoption of higher
standards on the impairment of its
financing assets. “These impairment
were mainly made for our mortgage
financing portfolio,” he said in a
separate statement. On the business
outlook for this year, the group
remained optimistic despite the
forthcoming economic and industry
challenges.
© 2014 BERNAMA. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed in anyform except with the prior written permission of BERNAMA.
MALAYSIAeBiz : 4
MALAYSIAeBiz
The BOTTOM Line
Titijaya’s Pre-Tax Profit Increases
To RM25.57 Mln For Q2
KUALA LUMPUR -- Titijaya Land Bhd’s
pre-tax profit increased to RM25.57
million for the second quarter ended
Dec 31, 2014 from RM21.46 million
in the same period of 2013. Revenue,
however, eased to RM66.19 million
from RM71.78 million. In a filing to
Bursa Malaysia here Monday, the
company attributed the 7.79 per cent
decline in revenue to the completion of
its projects, namely Subang Parkhomes
and The Galleria. The higher profit was
mainly due to contribution from its
higher margin project, Seri Alam. “We
are confident that our profitability will be
sustained through the continuous sales
of development projects as well as new
launches. “We are committed to our
business and growth strategies which
have been put in place to propel us to
be a stronger property player,” it added.
distribution of 3.30 sen per unit for
the MyETF Dow Jones Islamic Market
Malaysia Titans 25 (MyETF-DJIM25)
funds for the financial year ending Dec
31, 2014. It also declared an income
distribution of 2.25 sen per unit for
MyETF MSCI Malaysia Islamic Dividend
(MyETF-MMID). “The entitlement date
for the income distribution of both
funds is March 9 and the payment date,
March 31,” i-VCAP, the manager of the
funds said in a statement here. MyETFDJIM25 ranks among the biggest
Islamic Exchange Traded Fund in the
world with more than 250 million units
in circulation as at Dec 31, 2014. As for
MyETF-MMID, its net asset value (NAV)
per unit is generally above its initial issue
price of RM1.00 per unit and reached
the highest level of RM1.0742 on Nov
3, 2014. The fund, however, weakened
in line with the general market in the
last quarter and closed the year at
RM0.9933 per unit, i-VCAP said.
Melati Ehsan Confident Of 6 Pct
Profit Margin
KUALA LUMPUR -- Construction and
property developer, Melati Ehsan
Holdings Bhd, which has secured
projects worth RM3 billion, remains
positive of achieving a profit margin of
six per cent this year. Managing Director
Tan Sri Yap Suan Chee said the projects,
which are 80 per cent governmentrelated work, could last the company
for a decade. “The projects are mainly
for the Selangor State Development
Corporation (PKNS) and Public Works
Department. Therefore, we do not
have any payment problems,” he told
reporters after the company’s annual
general meeting here Monday. Yap said
projects, worth RM250 million, involving
highways, road construction and several
housing development schemes were
expected to be completed this year.
The company, he said was waiting for
approval for another project in Kelana
Jaya from PKNS but declined to reveal
the details. “Once we receive the
approval, (which is expected) by the
second quarter of this year, we shall
start work,” he said.
IGB Chalks Up Pre-Tax Profit Of
RM422.210 Mln In 2014
KUALA LUMPUR -- IGB Corporation Bhd’s
pre-tax profit for the financial year ended
Dec 31, 2014 increased five per cent to
RM422.210 million from RM400.799
million recorded in 2013. Revenue rose
eight per cent to RM1.176 billion, during
the period under review, from RM1.087
billion registered a year ago, it said in a
filing to Bursa Malaysia Monday. For the
fourth quarter ended Dec 31, 2014, pretax profit soared to RM107.421 million
from RM87.764 million recorded in the
same period in 2013. However, revenue
declined three per cent to RM301.688
million from RM311.818 million
previously due to the lower contribution
from the property development and
hotel divisions. In a separate statement,
the property developer attributed the
better performance during the quarter
under review to higher contribution from
the property development division, as
well as, lower finance costs. On outlook,
the group was cautiously optimistic
of maintaining last year’s satisfactory
performance.
i-VCAP
Announces
Income
Distribution For MyETF-DJIM25 &
MyETF-MMID
KUALA LUMPUR -- i-VCAP Management
Sdn Bhd Monday announced an income
KLK Q1 Pre-Tax Profit Dips 22.1 Pct
KUALA LUMPUR -- Kuala Lumpur
Kepong Bhd (KLK)’s pre-tax profit for
the first quarter ended Dec 31, 2014
dipped 22.1 per cent to RM294.3
million compared with RM377.7 million
recorded in the same quarter in 2013.
The decline was underpinned by the
drop in plantation profits following
weaker selling prices, as well as, lower
rubber and oil palm production. However,
revenue increased 24.9 per cent to
RM3.114 billion from RM2.494 billion
chalked up previously, the company
said in a filing to Bursa Malaysia. On the
current year’s prospects, KLK expected
plantation profits to be lower than the
previous year given the current steep
soybean production.
Amanahraya REIT’s 2014 Pre-Tax
Profit At RM107.24 Mln
KUALA LUMPUR -- Amanahraya Real
Estate Investment Trust posted a fullyear pre-tax profit of RM107.24 million
in its financial year ended Dec 31, 2014
from RM24.25 million a year earlier. In
a filing to Bursa Malaysia Monday, the
fund said it had recorded an unrealised
gain of RM75.32 million from its
investment properties during the year,
contributing to a jump in its pre-tax
profit. The fund recorded lower revenue
of RM55.23 million for the financial year
from RM64.26 million previously.
Batu Kawan’s Pre-Tax Profit Falls
To RM318.27 Mln In Q1
KUALA LUMPUR -- Batu Kawan Bhd’s
pre-tax profit decreased 22 per cent to
RM318.27 million for the first quarter
ended Dec 31, 2014 compared with
RM409.82 million recorded in the same
quarter in 2013. Revenue, however, rose
24 per cent to RM3.21 billion, during
the quarter under review from RM2.58
billion registered in the corresponding
quarter. In a filing to Bursa Malaysia
here Monday, Batu Kawan said the
group’s plantation profit for the current
financial year was expected to be lower
than the last financial year in view of
current crude palm oil prices. “The oleo
chemical division expects satisfactory
profit for the current financial year in
© 2014 BERNAMA. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
MALAYSIAeBiz : 5
MALAYSIAeBiz
The BOTTOM Line
anticipation of additional capacities
from new plants coming on-stream and
the initiatives for operational efficiencies
and productivity improvement,” it said.
million with a 79 per cent load factor,
while Thai AirAsia’s passenger growth
was 16 per cent higher at 12.2 million
with a 80 per cent load factor.
Bintulu Port’s 2014 Pre-Tax Profit
Rises To RM192.71 Mln
KUALA LUMPUR -- Bintulu Port
Holdings Bhd’s pre-tax profit rose to
RM192.71 million for the financial year
ended Dec 31, 2014 from RM188.17
million in the same period in 2013. In
a filing to Bursa Malaysia Monday, the
company attributed the increased profit
to higher revenue from the handling of
containers, project cargo, bulk palm
oil and alumina. Bintulu Port said the
higher pre-tax profit was in sync with
its revenue, which grew to RM552.26
million from RM529.78 million
previously. “For the fourth quarter,
pre-tax profit increased to RM51.35
million from RM49.58 million, while
revenue went up to RM148.76 million
from RM137.00 million,” it said. On
this year’s prospects, Bintulu Port said
the handling of liquefied natural gas
(LNG) vessel calls and cargo will still be
its most important revenue contributor
although the market environment for
LNG is expected to be challenging.
Tasek Corporation’s 2014 Pre-Tax
Profit Rises To RM136.32 Mln
KUALA LUMPUR -- Tasek Corporation
Bhd’s pre-tax profit was higher at
RM136.32 million for the financial year
ended Dec 31, 2014 from RM121.04
million in the 2013 financial year.
Revenue rose to RM656.06 million
from RM577.01 million. In a filing
to Bursa Malaysia here Tuesday, the
cement producer attributed the better
performance to higher demand for
cement in the domestic market and
improved pricing in ready-mixed
concrete. “The ongoing mass rapid
transit projects and light rail transit line
extensions are expected to continue
January CPI Up 1.0 Pct to 110.6
leading the construction sector’s growth
KUALA LUMPUR -- The Consumer
for the first quarter of 2015,” it added.
AirAsia Records 7 Pct Passenger
Growth In FY14
KUALA LUMPUR -- AirAsia Bhd
recorded a 7.0 per cent growth in
passenger traffic year-on-year for
the 2014 financial year, bringing the
total number flown to 45.6 million. In
a statement here Tuesday, the group
said the growth was in line with its
capacity growth, which stood at 8.0
per cent, allowing the group to close
the year with a load factor of 78 per
cent. For the fourth quarter ended
Dec 31, 2014, the group’s load factor
was down 3.0 percentage points over
the same period last year, while the
number of passengers increased 2.0
per cent year-on-year to 12.1 million.
“During the quarter under review, only
one additional aircraft was added to the
system, while 18 aircraft were added
year-on-year, bringing the total fleet
size for the group to 172 as at end2014,” it said. For the 2014 financial
year, Malaysia AirAsia recorded a slight
increase in passenger growth to 22.1
Boeing Reports 3 Pct Rise In Q4
Revenue To US$24.5 Bln
KUALA LUMPUR -- The Boeing
Company reported a three per cent
increase in fourth-quarter 2014
revenue to US$24.5 billion over
the same period of 2013 on higher
commercial deliveries. In releasing
its financial results for the quarter
ended Dec 31, 2014, the global
aviation company said the total
company backlogs at the quarterend was a record US$502 billion, up
from US$490 billion at the beginning
of the quarter, and included net
orders for the quarter of US$37
billion. Commercial airplanes booked
432 net orders during the quarter
with a record 1,432 orders in 2014.
Petronas Chemical’s Pre-Tax Profit
2014 Narrows To RM3.55 Bln
KUALA LUMPUR -- Petronas
Chemicals Group Bhd reported a
lower pre-tax profit of RM3.55 billion
for the financial year ended Dec 31,
2014 against the RM4.55 billion
registered in 2013. Revenue fell to
RM14.59 billion during the period
under review from RM15.2 billion
registered previously due to lower
spreads, as well as impaired loss on
assets relating to the group’s butanemethyl tertiary butyl ether (MTBE)
chain, and olefins and derivatives,
the company said in a filing to Bursa
Malaysia Wednesday. Petronas
Chemicals said in terms of fertilisers
and methanol, plant reliability was
negated by methane gas supply
limitations at the group’s methanol
facilities due to technical issues with
upstream supplier equipment and
facilities. “The fertiliser market was
weaker as a result of softer demand
and higher supply availability due
to a more competitive export tax
structure in China,” it said.
Price Index (CPI), which is usually
used to gauge inflation, increased
at a slower pace of one per cent in
January 2015 to 110.6 from 109.5
a year ago, the Statistics Department
said. When compared to the
preceding month of December 2014,
the CPI declined by 1.1 per cent, it
said in a statement here Wednesday.
In January, the department attributed
the lower rate of increase to the six
per cent drop in the transport index
following a significant decline in
the expenditure class for fuel and
lubricants for personal transport
by 10.6 per cent. Other decreases
were also noted for the indices of
communication (one per cent) and
clothing and footwear (one per cent).
But these were balanced by the
increase in the index of food and nonalcoholic beverages (2.8 per cent)
and housing, water, gas and other
fuels (2.1 per cent). “The three main
groups of food and non-alcoholic
beverages, housing, water, gas and
other fuels, and transport together,
accounted for 46.9 per cent of the
overall increase recorded for January
this year,” the department said.
© 2014 BERNAMA. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
MALAYSIAeBiz : 6
BizTALK
MALAYSIAeBiz
Neutrax To Breach Overseas
Markets By June 2015
By Azlee Nor Mahmud
KUALA LUMPUR -- Felda Wellness
Corp (FWC) is leveraging on its
Neutrax cultured coconut extract to
breach the United States and South
Korean markets by June this year.
Corporate Strategic Planning Head
Ikmal Hisham Mohd Kamal said
FWC, a unit under the Federal Land
Development Authority Malaysia or
Felda, is awaiting approval from the
US Food and Drug Administration
(FDA) for Neutrax. “Once we have
the Generally Recognised As Safe
certification from FDA, Neutrax will
be exported to the US and South
Korea as raw material where it
would be manufactured as an end
product. We are also obtaining
clearance for Neutrax, a liquid
form botanical-based product, to
be classified as a drug,” he told
Bernama Monday. Ikmal Hisham
said FWC is collecting data towards
efforts to make Neutrax a potential
cure for dengue.
Bursa Malaysia Closes For
CNY
KUALA LUMPUR -- Bursa Malaysia
Bhd and its subsidiaries will be
closed for two days from Feb 19,
2015 for the Chinese New Year
holidays. In a statement here
Monday, Bursa Malaysia said the
exchange and its subsidiaries
will resume operations on Feb
23, 2015. For more information
on Bursa Malaysia, visit www.
bursamalaysia.com.
Govt Continues Zero Tax For
CPO Export In March
By Joan Santani Santanasamy
KUALA LUMPUR -- Malaysia has
extended its zero tax policy for
the export of crude palm oil (CPO)
in March, the Malaysian Palm
Oil Board revealed Monday. The
duty-free policy for CPO was first
introduced for three months from
October to December 2014 and
later extended up to Feb 28, 2015
to boost exports. The move took the
market by surprise as Plantation
Industries and Commodities
Minister Datuk Seri Douglas Uggah
Embas had announced recently
that the government planned to reimpose tax the export of CPO from
next month. Prior to October 2014
Malaysia imposed 4.5 per cent
tax on CPO exports. “The decision
by the government is to sustain
CPO exports and help reduce
inventories,” Phillip Futures Sdn
Bhd Derivatives Product Specialist
David Ng told Bernama Monday. As
at end January 2015, CPO stocks
in Malaysia stood at 1.77 million
tonnes against 2.01 million tonnes
recorded at end-December. He
said CPO prices were still hovering
below RM2,250 per tonne as such
the zero-tax policy should continue.
TNB’s Smart Grid To Help
Consumers Cut Electricity
Bills
BANGI -- Tenaga Nasional Bhd’s
(TNB) smart grid technology,
currently in its pilot project stage,
is set to help consumers further
reduce their electricity bills. “We
hope to install the smart meters in
each of the 8.5 million household
customers within 10 years,” said
its President and Chief Executive
Officer Datuk Seri Azman Mohd. The
smart grid is an electricity network
utilising digital technology and
connects suppliers, distributors and
consumers. “It will help consumers
monitor their energy consumption,”
he said after Minister of Education
II Datuk Seri Idris Jusoh officiated
the “TNB Better Brighter Internship
Programme” and “UNITEN Smart
Grid Laboratory” here Monday.
Elaborating on the technology, he
said: “With a smart meter in your
home, you can set the washing
machine to run during non-peak
hours. This will give more control
of the energy bill and help prevent
blackouts at peak hours.” TNB
embarked on the RM2 million pilot
project two years ago to promote
efficient energy production and
usage. The pilot project involved the
replacement of 1,000 old analogue
meters with smart meters, with 200
installed in Putrajaya households
and the remaining 800 in Melaka,
and the findings are expected to be
revealed by year-end.
M’sia Well-Positioned To
Benefit From AEC - Khairi
KUALA LUMPUR -- Malaysia is
well-positioned to benefit from the
ASEAN Economic Community (AEC),
which has a population of over 600
million people and a combined gross
domestic product of US$2.3 trillion,
says Sports and Youth Minister
Khairy Jamaluddin. Speaking at
the Bumiputera Economic Action
Council-Majlis Amanah Rakyat
luncheon here Monday, he said
Malaysia’s entrepreneurs have
proven their potential, especially in
banking, oil and gas and aviation,
citing CIMB and AirAsia. Khairy said
Malaysia ranked sixth on the World
Bank’s “Ease of Doing Business”
index last year, proving the ability of
the country’s entrepreneurs to face
regional challenges.
Malaysia’s chairmanship of the
regional body this year will test the
mentality and competitiveness of
Malaysia’s entrepreneurs, especially
Bumiputeras, to be able to move to
a higher level, he said. “It would be
a great waste if Malaysia did not
use this opportunity to the utmost
extent. Malaysia’s domestic market
is small, and to generate greater
wealth, to create more sustainable
development, we should look at
opportunities beyond geopolitical
boundaries,” he said.
MBSB To Diversify Business
Plan Over Next Five Years
KUALA LUMPUR -- Malaysia
Building Society Bhd (MBSB) will
continue to diversify its business
plan over the next five years from
2015 to 2019, looking at pockets
of opportunities in the corporate
and plantation segments. President
and Chief Executive Officer Datuk
Ahmad Zaini Othman said these
two segments are quite insulated
despite the forthcoming economic
and industry challenges. He said
over the five years, MBSB plans to
increase their corporate financing
ratio to 30 per cent compared to
15 per cent currently and retail
financing to 70 per cent from 85 per
© 2014 BERNAMA. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
MALAYSIAeBiz : 7
BizTALK
MALAYSIAeBiz
cent at present, part of their move
to strengthen their business plan.
“Moving forward, this year we are
looking out for wealth management
types of programmes to put in
place to support the key retail
segment,” he told reporters after
the company’s financial results
announcement here Monday.
Proton Continues 3S
Transformation Exercise
Nationwide
KUALA LUMPUR -- Proton Holdings
Bhd (Proton) is continuing its
nationwide 3S transformation
exercise to improve its service
centres with the launch of its
upgraded centre in Bintulu,
Sarawak Monday. In a statement
here Monday, Proton said the 3S
(sales, service and spare parts)
transformation plan is a full-fledged
comprehensive exercise to provide
the best service to their customers.
It said the 3S centre, known as
Supernau Motors Trading Sdn Bhd,
has been an authorised Proton
dealer for the past 14 years. The
RM4 million 1,200 sq. m. centre
in Tanjung Batu, Bintulu has been
serving customers in Bintulu as
well as the surrounding towns
of Tatau, Sedauh, and Mukah.
“Supernau won the Proton Edar
Best Improved Service Centre
award in 2013/2014 and Proton
Edar 4th Best Service Centre in
Malaysia award in 2013/2014,”
it said. Proton Edar Sdn Bhd
Chief Executive Officer Norzahid
Mohd Zahudi said the refreshed
Supernau 3S centre marks the
company’s first transformation
initiative for Sarawak and Sabah.
Petronas Gas To Finalise
Heads Of Agreement With
Linde By Year-End
KUALA LUMPUR -- Petronas Gas
Bhd says it is still in discussions
with Linde (M) Sdn Bhd over
the execution of the heads of
agreement for the development of
the the Air Separation Unit in the
Pengerang Integrated Complex,
Johor. In a filing to Bursa Malaysia
Monday, Petronas Gas said the
companies are expected to finalise
the heads of agreement by end2015. The project is anticipated
to have an equivalent capacity of
1,600 tonnes per day (TPD) oxygen
and 1,800 TPD nitrogen generation
and is targeted to be in operation
by the fourth quarter of 2018, the
company said in a filing to the
exchange dated Nov 14 2014.
Melaka’s Investments In
2014’s First 9 Mths Hit Record
RM4.4 Bln
MELAKA -- Melaka recorded
RM4.4 billion in investments in the
manufacturing sector in the first nine
months of last year, the highest in 20
years. Chief Minister Datuk Seri Idris
Haron said figures released by the
Malaysian Investment Development
Authority (MIDA) showed domestic
investments accounted for RM2.6
billion or 59.1 per cent while foreign
investments totalled RM1.8 billion
or 40.9 per cent. “It was indeed
a satisfactory year for Melaka as
it achieved its best investment
figure so far. It was comparable to
1995 when Petronas set up their
oil refinery in Sungai Udang. We
targeted RM5 billion for the whole
of 2014 and another RM5 billion
investments for this year,” he told
reporters after closing the “Grow
with Us” seminar organised by
MIDA and Malaysian Investment
Development Finance Bhd (MIDF)
here Tuesday.
AirAsia Sells 25 Pct Stake In
AAE Travel For OR RM306.187
Mln
KUALA LUMPUR -- AirAsia Bhd
Tuesday announced it would
divest its 25 per cent stake in
AAE Travel Pte Ltd to Expedia Inc
for RM306.187 million. In a filing
to Bursa Malaysia here Tuesday,
AirAsia said it had executed a share
purchase agreement (SPA) Expedia,
Expedia Southeast Asia Pte Ltd,
and its a wholly-owned subsidiary,
AirAsia Exp Pte Ltd to facilitate the
divestment. Expedia and AirAsia
each hold a 50 per cent stake in
AAE Travel, a joint venture company,
through Expedia Southeast Asia
and AirAsia Exp, respectively. “The
cost of investment by AirAsia in
AAE Travel will result in a gain on
disposal of RM279.598 million
that would be realised in the first
quarter 2015. The payment for the
sale consideration would be made
within eight business days after all
its affiliated airlines have signed
the amended and restated joint
venture ticketing agreement and
restated ticketing agreement,” it
said.
BIMP-EAGA Media
Practitioners Should Join
Forces
By Zairina Zainuddin
KUALA LUMPUR -- Media
practitioners from the Brunei
Darussalam-Indonesia-MalaysiaPhilippines East ASEAN Growth
Area’s (BIMP-EAGA) sub-region
corporation, are encouraged
to create more awareness on
its establishment. Mindanao
Development Authority of the
Philippines Director of Investment
Promotions and Public Affairs
Romeo M Montenegro said
awareness for the BIMP-EAGA
was crucial as it assumed a major
role in integrating ASEAN. “Media
practitioners from both government
and private sectors and other
stakeholders need to be aware of
BIMP-EAGA and its tremendous
economic development that is
taking place daily. However, there
is limited access to the pertinent
information on the initiatives by
BIMP-EAGA. Therefore, there
is a need to strengthen crossborder
communication
and
outreach to ensure the effective
implementation and utilisation of
projects,” he told Bernama on the
sidelines of the two-day BIMPEAGA Strategic Planning Meeting
2015 here Tuesday.
http://www.radio24.com.my
© 2014 BERNAMA. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
MALAYSIAeBiz : 8
BizEVENTS
MIFF Continues To Gain Prominence
KUALA LUMPUR -- The Malaysian
International Furniture Fair (MIFF)
continues to gain international
prominence. This year’s event from March
3-7 at the Putra World Trade Centre
and Matrade Exhibition and Convention
Centre here, will feature a good mix of
regulars and new exhibitors among the
500 from 14 countries, including China,
Taiwan, Bulgaria and the United States.
Five seminars from Mar 4-6 will highlight
current trends and bring attendees
face-to-face with international industry
experts. Last year, the MIFF attracted
503 exhibitors from 12 countries and
recorded a turnover of US$892 million,
said the organiser, UBM Malaysia, in a
statement here Monday.
innovation by agents, negotiators
and agencies. “The AAA provides an
excellent platform to pay tribute to
real estate agents, negotiators and
agencies in the real estate industry. Last
year, we paid tribute to developers for
their significant contributions towards
shaping the skylines of Malaysia with
their prestigious developments through
the iProperty.com People’s Choice
Awards 2014. This year, we wanted
to pay the same honour and recognise
the achievements of our country’s very
talented and knowledgeable team of
real estate professionals,” he said in a
statement here Tuesday.
UTM, Uyemura M’sia Ink Research
MoU
JOHOR
BAHARU
-Universiti
Teknologi Malaysia Monday signed a
memorandum of understanding (MoU)
with Uyemura (M) Sdn Bhd (UMM) in
its efforts to intensify research and
commercialisation activities in green
technology and electroplating. The
MoU, which is valid for two years,
was signed by UTM Vice-Chancellor
Prof Datuk Dr Wahid Omar and UMM
Operations Manager Juro Okuda. In a
statement here Monday, Wahid said the
collaboration would enhance research
innovation through high-quality research
output and increase the number of
skilled chemists and chemical engineers
not only in Malaysia but globally.
“UMM’s parent company Uyemura Co
Ltd Japan is one of the world’s biggest
electroplating companies, and holds
more than 60 per cent of the global
share for electroplating related products
like hard disks, semiconductors and
automotive parts,” he added.
Petra Energy Gets Umbrella
Contract From Petronas Carigali
KUALA LUMPUR -- Petra Energy Bhd’s
unit, Petra Resources Sdn Bhd (PRSB),
has been awarded an umbrella contract
by Petronas Carigali Sdn for the provision
of spot charter marine vessel services
from 2015 to 2017 on a non-exclusive
basis. In a filing to Bursa Malaysia Petra
Energy said the service covered Petronas
Carigali’s operations in Malaysia for
spot charter. “There is no firm contract
value stated in the letter of award as the
services is on a call out basis whereby
the fees and rates will be based on the
quotation at the requirement point of time
such as during each work order bidding,”
the company said. Petra Energy also said
the duration of the contract was for two
years effective from Jan 29, 2015 and
would expire on Jan 28, 2017 with an
extension option of one year exercisable
by Petronas Carigali from the expiry date.
The contract was expected to contribute
positively to the earnings and net assets
per share of the company. “The Board of
Petra Energy is of the opinion that the
acceptance of the contract is in the best
interest of the company,” it added.
iProperty.com M’sia To Recognise
Professionals In Real Estate
Industry
KUALA LUMPUR -- iProperty.com
Malaysia will honour professionals in
the real estate industry at the inaugural
iProperty.com
Malaysia
Agents
Advertising Awards (AAA) on June 16.
iProperty Group Managing Director and
Chief Executive Officer Georg Chmiel
said the AAA recognised the highest
level of achievements, leadership and
Petra Energy Completes Internal
Reorganisation Exercise
KUALA LUMPUR -- Petra Energy
Bhd has completed its internal
reorganisation exercise to streamline
business activities within the group as
well as promote operational efficiencies.
In a filing to Bursa Malaysia Tuesday, the
company said the exercise segregated
its subsidiary companies into three
main core business segments, namely,
services, marine assets as well as
MALAYSIAeBiz
development and production Petra
Energy noted that its existing ordinary
shareholdings in Petra Resources
Sdn Bhd, Petra Marine Sdn Bhd,
Petra Fabricators Sdn Bhd and Petra
Services Sdn Bhd within its subsidiary,
Petra Energy Services Sdn Bhd, were
placed under the services segment.
Meanwhile, Petra Marine’s and PE
Ship Management Sdn Bhd’s existing
shareholdings in PE Marine Ltd, PE
Challenger Ltd and PE Marine One
Ltd within Petra Energy Capital Sdn
Bhd, were also placed under the
marine assets segment as well. “As a
result of the internal re-organisation,
Petra Energy has become the ultimate
holding company of the group, with
the respective equity interest in each
subsidiary company,” said Petra Energy.
Hubline Exits Container Shipping
Business
KUALA LUMPUR -- Hubline Bhd has
decided to exit the container shipping
business industry and focus on its
break bulk division. While, shipping
remains the main activity of the group,
the focus would shift towards break bulk
shipping, as it a viable and sustainable
division with good prospects of further
growth. In its filing to Bursa Malaysia
Wednesday, the group said its board has
done a detailed deliberation and review
of all relevant factors and will therefore,
be discontinuing the container shipping
operations. It said the container liner
industry has been suffering following the
economic crisis and overcapacity in the
market is still evident. The exit process
would involve withdrawal from various
trade routes, termination of related
service and operational contracts,
as well as the disposal of container
shipping related assets. Hubline said the
liner business is expected to cease its
operations by the current financial year
ending Sept 30, 2015. The estimated
one-off costs to the income statement
is expected to be about RM350 million
for the financial year ending Sept 30,
2015, Hubline said. The container
shipping division, in the last four years,
has contributed an average 79 per cent
to the Group’s overall revenue, and an
average of -134 per cent of profit before
tax. Hence, a negative impact to the
Group’s overall net result.
© 2014 BERNAMA. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
MALAYSIAeBiz : 9
Insight
MAMPU Ramping Up Service Delivery Transformation
Thus, reformation efforts with transformative characteristics
should be inculcated within government agencies to ensure
their standard of service delivery improves and the required
standards achieved.
“To instill the transformation culture in the public sector,
MAMPU has adopted the consulting, monitoring, promoting
and recognising approaches to the agencies,” he explained.
CHALLENGES TOWARDS
TRANSFORMATION
VISION...MAMPU Director General Datuk Seri Zainal Rahim Seman in an
interview with Bernama says, the unit will focus on organisational management
and ICT to achieve Vision 2020 goals.--FotoBERNAMA
By Chandravathani Sathasivam
At this moment, according to Zainal, the public sector service
is moving towards economic based knowledge and services
making the sector more exposed to challenges.
In line with this, the public servants should change their
mindset in thinking more strategically, creatively, competitively
and adopt the client based high performance.
PUTRAJAYA (Bernama) -- The Malaysian Administrative
Modernisation and Management Planning Unit (MAMPU)
is ramping up the service delivery transformation efforts in
enhancing the masses’ quality of life and making the nation
more competitive in the eyes of the world.
“Unlimited internet access has exposed the public to the
service delivery quality of other countries resulting in higher
expectations from the people,” he said.
“We will also be concentrating on planning and spearheading
the public sector’s ICT development, appointing public sector
organisation management and ICT consultants and appoint
civil servants to implement the transformation,” he said.
Elaborating further, Zainal said, this year, MAMPU would
concentrate on transformation programmes and initiatives
with citizen-centric characterisation and across agencies
through data sharing.
In order to fulfill the public expectation that has become more
dynamic and complex, Zainal said the public service sector
should not be contented with their current service delivery
performance.
Apart from that, the public-private cooperation would
be intensified by strengthening the aspects on planning,
coordination, monitoring and evaluating projects to encourage
more private sector investments.
He added, civil servants have to come out of their ‘comfort
zone’ and be more open in providing services for people’s
MAMPU is the torch bearer in service delivery transformation benefit within the 1Malaysia concept.
through modernisation initiatives that also demands civil
servants to change their mindset in providing services that “For that, the civil service should upgrade their image
are high in quality and adhere to the international standards. and adopt a work culture based on professionalism, good
MAMPU Director General Datuk Seri Zainal Rahim Seman governance, and work ethics that is acceptable to the people,”
noted that the present day social, political and economic he said.
landscape characterised by the rapid evolving technology
is highly challenging and would affect the country’s MAMPU will continue to ensure that there will be improvements
competitiveness.
in the current system through business process reengineering
and also simplify the content of application forms and access
“Today, the public sector has to set a first class service method for online services.
standard beyond the people’s expectations based on the
universal best practices that is the core for the service delivery TRANSFORMATION STRATEGY 11MP
transformation.
Zainal said the Eleventh Malaysia Plan (11MP) has offered an
“Transformation should be strengthened by restructuring opportunity in rebranding the service delivery going beyond
the organisational management and the use of information the expectations of the clients and the people.
and communication technology (ICT) effectively, efficiently,
innovatively and in a sustainable manner, concurrently with The nation’s public sector transformation flagship is based on
the Vision 2020 goals,” he said in an exclusive interview with four main strategic principles - A Government Based on Value,
Bernama at his office recently.
A Government that Gives Priority for Achievement, a Peoplecentric Government and an Interconnected Government.
CONCENTRATE ON THE MAIN FOCUS
“Initiatives and programmes that have been proposed under
Therefore, Zainal said MAMPU would be concentrating on 11MP will contribute to the nation’s development and the
these two main areas that were the driving force and a agent well-being of people based on international requirements and
of change for public administration and management.
standards,” he said.
© 2014 BERNAMA. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
MALAYSIAeBiz : 10