Malaysian Airline
System Bhd (RM1.11/share)
MASkargo flies to
Colombo
MASkargo Sdn Bhd, the freight unit of Malaysia Airlines, has
launched its first A330-200 freighter flight to Colombo, Sri Lanka, in a
development that augurs well for the country’s economy. In a statement last
Friday, MASkargo said the new freighter was scheduled to fly into Bandaranaike
International Airport from here every Friday and back the following day. Its
senior vice-president (business development and freighter services), Jamaludin Ismail,
said with Sri Lanka’s impressive gross development product of 7.9% in the first
quarter of 2012, MASkargo definitely saw a huge potential for it to grow in
this market. – Business Times
Felda Global
Ventures Holdings Bhd (RM5.44/share)
Venturing into Africa
next year
Felda Global Ventures Holdings Bhd (FGV) is in talks with
the relevant parties and is optimistic of entering the African market in early
2013. Group president Datuk Sabri Ahmad said Africa would be challenging but
the business expansion would be crucial to FGV’s eight-year plan to grow eight
times by 2020. The venture into Africa, he said, would be very challenging
because political stability and funding were key. Sabri said that FGV had
started talking with private banks and the response had been positive. Sabri
added that FGV was already providing plantation management advice to planters in
Sierra Leone and one of the strategies FGV has in mind is to enter the African
nations by building oil mills first. – StarBiz
Building Materials
Sector
Miti to solve flat
steel woes
Flat steel producers will meet with the Ministry of
International Trade and Industry (Miti) this week to discuss some policy
changes that could possibly shape a new landscape in the sector. According to industry sources, the
recommendations of Boston Consulting Group
(BCG), hired by Miti to conduct an in-depth study on the local flat
steel sector, will be discussed at the meeting. Back in February, Miti hired
BCG to undertake a detailed study, hoping to resolve the woes in the flat steel
industry that has been plagues with parties at each other’s throat. The
disputes are mainly between Megasteel Sdn Bhd and the downstream players which
are required to source their input from Megasteel. – The Edge
Source: AmeSecurities
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