Sah Jawatan Pengerusi Tabung Haji Milik Datuk Azeez MP Baling

Lembaga Tabung Haji (TH) hari mengumumkan pelantikan YB Datuk Haji Abdul Azeez bin Abdul Rahim sebagai Pengerusi TH berkuatkuasa 1 Julai 2013, menggantikan YBhg Tan Sri Dato’ Sri Abi Musa Asa’ari Mohamed Nor yang telah berkhidmat dengan TH sejak Ogos 2007.

YB Datuk Haji Abdul Azeez, adalah Ahli Parlimen Baling, Kedah dan Ahli Majlis Tertinggi UMNO sejak 2008. Beliau juga memegang jawatan sebagai Pengerusi Eksekutif Yayasan Pembangunan Rakyat Baling. YB Datuk Haji Abdul Azeez tidak asing bagi TH, beliau merupakan Ahli Lembaga Pengarah TH sejak tahun 2011.

YB Datuk Haji Abdul Azeez telah menubuhkan Kelab Putera 1 Malaysia pada 2010 dan beliau sangat aktif dalam aktiviti-aktiviti NGO di dalam negara dan luar negara. Beliau terkenal dengan kerja-kerja sukarelawan dan misi-misi kemanusiaan, antara misi yang telah dijayakannya ialah misi bantuan kemanusiaan kepada rakyat Palestin di Gaza.

Dikenali sebagai seorang yang berwawasan dan mempunyai visi yang luas dalam bidang perniagaan serta pembangunan sosio ekonomi komuniti sejagat, pelantikan YB Datuk Haji Abdul Azeez sebagai pengerusi TH diyakini mampu untuk meneruskan kesinambungan TH, memacu kejayaan ekonomi ummah dan pengurusan haji terbilang.

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Datuk Azeez Gaza Bakal Pengarah Tabung Haji?

Datuk Azeez Abdul Rahim, ahli Lembaga Pengarah Tabung Haji dikatakan akan dilantik menjadi Pengerusi baru Tabung Haji menggantikan Tan Sri Dato’ Sri Abi Musa Asa’ari Mohamed Nor. Fuih banyaknya gelaran - Tan Sri Dato’ Sri - pakcik kayo!.

Ada pro dan kontra atas berita perlantikan beliau. Ada yang setuju, komen dari blog Rockybru:

Mae Kuba said...

Berikan ruang dan peluang kepada Azeez. Selama ini pun dia sentiasa berjaya menjalankan tanggungjawab sebagai pemimpin pelapis dengan cemerlang di Gaza, Mesir, Jordan dan sentiasa menjadi orang pertama ditempat-tempat malapetaka. Dia umpama seorang Apperantice yang gigih, berani malah berakal albeit handikapnya dalam akademik.

Syed Mokhtar juga asalnya SPM dropout, sapertimana Goh Tong, R.Kuok ( takda SPM pun) dan berpuluh lagi yang amat berjaya tanpa pencapaian akademik yang cemerlang. Setiap insan ditentukan jalan masing-masing untuk menjadi cemerlang.

Berapa banyak juga lulusan Phd dari U luar negara yang aku kenal ( Melayu semuanya) masih lagi kehulu kehilir mengelek proposal paper, memanjat tangga Jabatan2 kerajaan dan bank meminta projeknya difahami tapi gagal.

Selain kelayakan akademik, perkara wajib (seolah-olah kunci kejayaan) adalah pangkat Datuk, sehinggakan setiap Mat koporat tak kira bangsa sanggup menempah pangkat tersebut.

Cuma apa yang aku kesalkan, jika ada cubaan pembaharuan ingin dilakukan, orang Melayu yang paling kehadapan mengkritik dan menjadi pessimist. Seolah-olah semua orang Melayu (kecuali diri mereka) tidak layak dan merbahaya.

Untuk apa kita Merdeka, jika kita tidak yakin pada bangsa sendiri. Kita masih banyak peluang untuk buat kesilapan, kerana dengan kesilapan itu akan menuntut kebaikan dan kemajuan.

Yang tidak setuju menuduh beliau tak lulus SPM pun. Sijil MBA dia pun beli. Adakah anda setuju?

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CIMB Niaga Syariah Buka Kantor Cabang Mataram

MATARAM - Unit usaha syariah PT Bank CIMB Niaga Tbk (CIMB Niaga Syariah) meresmikan pembukaan Kantor Cabang Syariah (KCS) di Cakranegara, Mataram, Nusa Tenggara Barat. KCS ini telah beroperasi sejak 5 Februari 2013.

Pembukaan kantor ini bertujuan memperluas jangkauan masyarakat terhadap produk dan layanan perbankan CIMB Niaga Syariah. Selain itu, acara silaturahim dan syukuran dilakukan untuk mempererat hubungan dan tali silaturahim dengan masyarakat Mataram terutama nasabah dan mitra usaha CIMB Niaga Syariah.

Direktur Commercial Banking & Syariah CIMB Niaga, Handoyo Soebali, mengatakan NTB memiliki potensi pengembangan perbankan syariah besar. “Untuk dapat menjawab minat masyarakat terhadap produk dan layanan perbankan syariah, kami hadir di Mataram,” ujarnya, Kamis (21/3).

KCS Mataram diharapkan dapat meningkatkan akses masyarakat dalam menempatkan simpanan di CIMB Niaga Syariah, serta mengaktifkan office channeling di wilayah Kantor Bank Indonesia setempat. Simpanan tersebut dapat ditempatkan di berbagai produk, terutama Tabungan iB X-Tra Syariah. Produk tabungan ini merupakan simpanan dana pihak ketiga dalam bentuk tabungan yang sesuai dengan prinsip syariah yaitu titipan (wadiah) dimana pemilik dana memberikan kebebasan penuh kepada CIMB Niaga Syariah (Mudharib) untuk mengelola dananya. “Kami menyambut dan mempersilakan masyarakat untuk bersilaturahim menempatkan dana mereka di CIMB Niaga Syariah,” kata Handoyo.

Melalui KCS Mataram ini, masyarakat dapat mengakses berbagai produk pembiayaan unggulan. Di antaranya dengan menggunakan akad murabahah (jual beli), nasabah pembiayaan kepemilikan rumah (PKR) CIMB Niaga Syariah dapat menikmati cicilan dan pokok tetap hingga maksimal 20 tahun dan bebas denda bila pelunasan dipercepat sebelum jatuh tempo.

Hal serupa juga berlaku bagi pembiayaan kepemilikan mobil (PKM) dengan cicilan dan pokok tetap maksimal 5 tahun. Dengan akad murabahah (jual beli) dengan skema fix installment (cicilan tetap), nasabah tidak akan mengalami perubahan cicilan dan pokok sehingga lebih tenang, aman, dan dapat membantu perencanaan keuangan keluarga,

CIMB Niaga Syariah juga terus melakukan pengembangan berbagai layanan untuk mendukung kemudahan nasabah dalam melakukan transaksi perbankan (transaction banking). Di antaranya adalah layanan manajemen kas (cash management) melalui BizChannel dan Virtual Account serta berbagai layanan pembiayaan perdagangan (trade finance). “Semua pengembangan ini kami lakukan untuk memenuhi dan mendukung kebutuhan nasabah, termasuk layanan payroll, e-tax payment dan edu payment,” ucap Handoyo.

Dengan diresmikannya KCS Mataram dan beroperasinya KCS di Batam, CIMB Niaga Syariah kini memiliki 29 Kantor Cabang Syariah (KCS), satu Kantor Cabang Pembantu Syariah (KCPS) dan 554 Office Channeling/OC (layanan perbankan konvensional dan syariah dalam satu atap), yang tersebar di 18 provinsi dan 89 kota besar di Tanah Air.

- Republika

Maybank Profit Soars

MALAYAN Banking Bhd (Maybank) reported a 15.9 per cent rise in its fourth quarter net profit to RM1.5 billion, in line with analysts’ expectations, propelling it to a record net profit for the full year.

The country’s biggest banking group by assets, which is also the fourth largest in Asean, saw net profit come in at RM5.7 billion for the last year ended December 31, up by 17.6 per cent from the previous year.

This was on the back of a 12 per cent increase in revenue to RM16.6 billion.

“The results were pretty much within our expectations, as with consensus,” said Cheah King Yoong, banking analyst and vice-president of equity research at Alliance Research.

Despite a softer global economy, growth in Asean, where Maybank's key markets of Malaysia, Singapore and Indonesia are, was robust and this helped spur loans and deals, analysts noted.

While overall loans grew by a healthy 12.2 per cent, it came in below the group's target of 16.2 per cent. For this year, it is targeting a 12 per cent growth.

Its return-on-equity (ROE), a key measure of profitability, came in at 16 per cent, beating its target of 15.6 per cent. It set an ROE target of 15 per cent for this year.

President and group chief executive officer Datuk Seri Abdul Wahid Omar said Maybank's overseas operations accounted for 30 per cent of the group's profit before tax (PBT) of about RM7.9 billion, putting it "very much on track" to achieving a target of having 40 per cent of PBT from overseas business by 2015.

"We intend to raise the tempo in our regionalisation agenda, not only by leveraging on opportunities in existing markets but also in looking for new avenues where we can build a franchise," he told reporters at the results briefing here yesterday.

Maybank, which has a presence in 10 Asean member countries, has long been keen to acquire a bank in Thailand. However, valuations there have gone up, making any banking acquisition at the moment expensive.

"From a valuation basis, it's not quite conducive (to make an acquisition). We reckon, sometime, an opportunity will turn up," Abdul Wahid said.

Asked whether the group is keen on buying the Philippines' only Islamic bank, Al Amanah Islamic Bank, which is up for sale, he said: "At this moment, there are no plans."

Maybank's business momentum is expected to continue this year on the back of improved loans growth, higher non-interest income as a result of a "healthy" deal pipeline for the investment banking business and higher revenue from regional initiatives.

"The market with the highest growth potential for us would be Indonesia," said Abdul Wahid.

Last year, Maybank's net interest income rose by 11.3 per cent to RM8.5 billion, while non-interest income grew 17 per cent to RM5.3 billion. Its Islamic banking business grew by 26.9 per cent in PBT to RM1.3 billion.

The group proposed a final net dividend of 28.5 sen, bringing the total net dividend to about RM4.3 billion for the year, which represented 74.7 per cent of its net profit.

Maybank's share price rose by three sen to close at RM8.93 yesterday after the afternoon release of its results. The stock has shed 2.9 per cent so far this year compared with the stock market's benchmark index FBM KLCI's 4.4 per cent loss.

- BTimes

Tren Minuman Di USA

San Fancisco - Masyarakat Amerika Syarikat mengalami pergeseran selera yang cukup signifikan untuk minuman penghilang dahaga.

Berdasarkan data dari The Beverage Informatioan Group and US Census, beberapa jenis minuman pada 2011 mengalami kenaikan peratusan pengambilan berbanding pada 2010. Air botol atau air dalam bungkusan naik pesat mencapai 56%. Disusuli anggur yang mengalami peningkatan penggunaan sebanyak 21%, kemudian air suling dan 20% dan teh 5%.

Sementara kesukaan masyarakat AS dilihat menurun terhadap beberapa jenis minuman. Sebut saja jus yang turun 18%, lalu minuman serbuk yang turun 17%, minuman ringan turun 16%, bir turun 10% dan susu turun 6%. Sementara kopi cenderung tidak berubah, hanya tergelincir 1%.

Secara keseluruhan, minuman ringan masih menjadi pilihan sebahagian besar masyarakat, kerana menguasai hampir separuh pengambilan pasaran, yakni 44,5%. Di kedudukan kedua kopi dengan 26,82% dan air 26,27% serta susu 22,9%. Selebihnya berada di bawah level 20%.

Ini urutan minuman yang paling banyak digunakan warga AS.

1. Minuman ringan – 44.15%

Soda mendominasi separuh kedua abad ke-20 sebagai minuman pilihan di restoran, pendamping makanan segera, minuman di mesin penjual dan peti sejuk. Tetapi dengan pengguna yang makin fokus pada kesihatan, Coke dan Pepsi sering disalahkan untuk obesiti, diabetes dan masalah kesihatan yang lain.

Dewan Kesihatan New York City bahkan telah meluluskan cadangan larangan atas penjualan jualan soda 16 ons. “Sementara populariti soda diet telah meningkat, minuman ringan sekarang cenderung popular di kalangan remaja dan usia 20-an,” kata Thomas Mullarkey, penganalisis Morningstar.

2. Kopi -26.82%

Pengambilan kopi per kapita relatif stabil. Tingginya harga jenama seperti Starbucks dan letupan di pasaran minuman tenaga tidak membuat pengambilan kopi berubah-ubah. Tahun lalu, Starbucks menaikkan harga minuman sekitar 1% di sebahagian besar Northeast dan Sunbelt dan pada 2011, menaikkan harga kopi bungkusan sebanyak 17%.

3. Air botol -26.27%

Penurunan jus dan soda tampaknya menjadi keuntungan bagi usaha-botol air. Meskipun air bungkusan dianggap oleh sebahagian orang sebagai gaya hidup mewah, mengingat air boleh diperolehi percuma dari paip, air botol memiliki keunggulan besar, air sihat. Pada 2011, jumlah keseluruhan pengambilan AS air botol meningkat 4% menjadi 9,1 bilion galon, menurut Persatuan Air Botol Antarabangsa. Bahkan, setiap orang di Amerika sekarang minum cukup banyak air botol satu tahun.

4. Susu – 22.9%

Got milk? Ini adalah salah satu jenama komoditi dan kempen berpengaruh paling terkenal di AS. Kempen yang dibuat pada 1993 untuk menggalakkan penggunaan susu lembu ini, sangat meningkatkan penjualan susu di California, walaupun tidak secara nasional.

Pengambilan susu pun saat ini semakin menurun. Masyarakat Amerika minum susu 30% lebih sedikit daripada yang mereka lakukan pada 1975. Demikian menurut laporan Wall Street Journal bulan lalu. Pergeseran ini menjelaskan, cepatnya selera boleh berubah dari satu generasi ke generasi berikutnya. Anak-anak, yang secara tradisional merupakan pasaran besar bagi susu, mempunyai peratusan populasi lebih kecil berbanding dulu. Selain itu, susu telah menjadi minuman yang cukup mahal.

5. Bir – 19.79%

Meningkatnya persaingan minuman beralkohol lain, seperti wain berkualiti, vodka, wiski dan koktel, telah menekan populariti bir. Kadar pengangguran yang tinggi di kalangan peminum bir utama dan melemahkan ekonomi Amerika secara keseluruhan juga telah memberikan sumbangan terhadap penurunan penggunaan bir selama berdekad-dekad terakhir. Sementara bir ringan juga terpukul cukup keras.

6. Teh – 7.03%

Pengambilan minum teh berkembang. Pada 2011, Amerika mengambil lebih daripada 65 bilion sachet teh (serving of tea), menurut Dewan Teh Amerika Syarikat. Sekitar 85% dari itu adalah teh hitam (black tea) dan teh ais (iced tea), sedangkan 14% adalah teh hijau (green tea) dan selebihnya adalah oolong dan teh putih dengan rasa yang lebih ringan. Dewan Teh melihat teh khusus berpotensi tumbuh lebih lanjut.

7. Jus – 5.17%

Harga yang mahal, kebimbangan tentang kadar gula dan migrasi dari jus buah ke minuman buah yang dilarutkan, yang lebih murah, berperanan dalam penurunan pengambilan jus, menurut penyelidik pasaran Mintel.

Bahkan jus limau, yang selama ini menjadi sarapan lampin untuk kebanyakan warga Amerika, telah jatuh popularitinya. Masyarakat komuter, yang setiap hari pulang dan pergi untuk bekerja, lebih suka membeli kopi selama perjalanan, daripada meluangkan masa mengambil segelas jus dari peti sejuk sebelum mereka berangkat kerja.

8. Minuman Serbuk - 3.9%

Minuman serbuk protein (powdered protein shakes), bijirin, chocolate mixes untuk anak-anak dan ais teh serbuk kehilangan daya tariknya. Adam Rogers, penyelidik senior di Beverage Information Group, sebuah organisasi perdagangan di Norwalk, Connecticut mengatakan, jenis minuman ini keluar dari mode kerana ada peningkatan dalam pilihan minuman segera atau minuman sachet.

9. Anggur (wine) – 2.36%

California telah menjadi sumber hiburan utama AS. Salah satunya kerana Napa Valley, Sonoma County dan daerah lain telah membantu mempopularkan wine di meja makan dan tempat Jamuan lain. Anggur AS mempunyai reputasi dan nilai lebih, menurut Beverage Information Group.

Sementara pecinta wain mencari daerah baru dan kelainan anggur, termasuk wain merah manis dan campuran yang lebih berkualiti, pengambilan anggur dijangka akan terus meningkat selama lima tahun ke depan, Rogers mengatakan.

10. Minuman beralkohol (koktel) - 1.5%

Anggur cukup baik, tetapi sebagai penyair Ogden Nash berkata, “Minuman keras lebih cepat.” Amerika telah membangunkan rasa untuk minuman beralkohol yang lebih luas, bukan hanya botol biasa. Dan acara seperti “Sex and the City” membantu mempopularkan budaya minuman beralkohol (koktel).

- Inilah.com

Hartanah London Tidak Lagi Selamat

London's property is losing its attraction for investors as they start to venture out of 'safe havens' and worry that the city's prices look high given a slowing British economy.

A reputation as a safe place to park money during global market turmoil helped drive central London office prices up 52 percent between mid-2009 and the end of 2012. Prices in the smaller luxury residential market grew at a similar pace.

As investors feel calmer about the world in general, they are looking more closely at London property holdings.

"I cannot help but conclude that London is in bubble territory," said Ben Habib, Chief Executive of First Property Group (FSTP.L), which owns British and Polish real estate.

"The returns available are very low and capital values vulnerable to a shock."

Commercial property deals reached nearly 21 billion pounds last year, according to research group Real Capital Analytics. That was double the amount for Paris and four times Berlin.

Over 64 percent of money coming into the market was from abroad - up from 61 percent in 2011 and 55 percent in 2010.

But fears of a euro zone breakup, a slew of U.S. tax rises and spending cuts or sharply slowing Chinese growth have diminished - removing factors that had driven the flow of money.

Meanwhile, concerns over Britain itself have grown.

The economy shrank in the last quarter of 2012, Britain's AAA credit rating looks in danger and the pound is at a 6-month low against the dollar - in part because of outflows from government bonds that had themselves been seen as a safe haven.

A weakening pound "may start the unwinding of the great wall of money," said Jefferies real estate analyst Mike Prew. "A prime London asset denominated in a secondary currency loses much of its investment appeal."

YIELDS UNDER SCRUTINY

Not all agree that London property has run out of steam, citing strong lettings in buildings outside top locations.

"If this is a recession, then not only is London doing rather well but imagine the impact of any economic and financial recovery," said Investec property analyst Alan Carter.

When the investor focus turns to yield rather than preserving capital, sceptics say it is harder to make the case for London property.

Yields for some Mayfair properties are under 4 percent. They are below 3 percent for the Rolex store under the One Hyde Park luxury flat scheme in Knightsbridge. That compares to a longer term trend of about 5 percent in the wider West End district.

"We don't believe there is good value in prime central London and are selling to reinvest elsewhere," said Richard Gwilliam, head of property research at PRUPIM, a real estate investment arm of British insurer Prudential (PRU.L) that has about 15 billion pounds under management.

With signs of some half-full or vacant buildings starting to drop rents, that could also hurt values. A succession of job cuts announced by banks have added to concerns over demand.

The luxury residential market is already in something of a hiatus after rises in sales tax for the priciest homes.

"You have a Sword of Damocles hanging over the market," said Andrew Langton, founder of high-end estate agent Aylesford International. Deals at the top end of the residential sector had fallen by two-thirds over the last year, he said.

Those who parked money in London property as a safe haven may now find it doesn't stack up as well against alternatives.

Benchmark Spanish and Italian 10-year bond yields are trading above 5 and 4 percent, but without the same perceived risk of euro zone breakup that sent them soaring last year.

Property has the disadvantages of being a much less liquid market with things like higher transaction fees, building maintenance costs and gaps in rental to worry about.

ESCAPE TO THE COUNTRY

For specialist property investors, London is also looking pricy compared to the rest of Britain.

Outside London and the Southeast, office values have dropped 14 percent since June 2009 , according to property consultant CBRE.

The gap in yield between West End London offices and so-called secondary British offices is about 10 percent versus 1 to 2 percent before the crash of 2007.

Property company share prices show London's premium too.

London specialists Derwent London (DLN.L), Great Portland (GPOR.L) and Shaftesbury (SHB.L) trade at premiums to net asset value forecasts of about 14 percent, 8 percent and 11 percent respectively, according to Investec figures.

By contrast, the two largest property firms with real estate outside London - Land Securities (LAND.L) and British Land (BLND.L) - trade at about a 6 percent discount and a 5 percent discount to their last stated net asset value.

In a sign of the interest outside London, billionaire investor George Soros last month built a stake of over 5 percent in Development Securities (DSC.L).

Axa (AXAF.PA) is raising 1 billion pounds to buy property across Britain on long leases, Aviva Investors (AV.L) is also looking in British regions and JP Morgan (JPM.N) cites better opportunities away from London's most popular districts.

Beyond Britain, there is also growing interest in some of the very regions from which money flowed into London in search of safety. In cities such as Milan and Madrid, the best shopping centres can command yields of as much as 6.75 percent.

"As euro zone break-up risks subside we may look at southern peripheral countries," PRUPIM's Gwilliam said. (Additional reporting by Sinead Cruise; Editing by Sophie Walker and Matthew Tostevin).

- Reuters

Travel Agents Accuse Batavia Air Of Bankruptcy Foul Play

Two associations housing thousands of Indonesian travel agents have accused Batavia Air of purposefully concealing a bankruptcy declaration and making off with billions of rupiah deposited by the agents in the private carrier’s bank accounts.

The Indonesian Ticket Agents Association (Astindo)’s deputy chairwoman for ticketing, Pauline Suharno, said on Tuesday that about 1,200 travel agents in Jakarta alone reported that they may have lost a combined Rp 18 billion ($1.9 million) they had deposited with Batavia before the Central Jakarta Commercial Court declared it bankrupt on Jan. 30.

Pauline said the 1,200 travel agents were members of the Jakarta chapters of Astindo and the Association of Indonesian Tour and Travel Agencies (Asita).

She added that there were up to 1,600 other travel agents operating outside Jakarta who were similarly concerned about the uncertain fate of the money they had deposited at Batavia.

“All we want is for the curators to separate our deposits from Batavia’s assets. It’s travel agents’ money; the money that we deposited to ensure ticket issuance. It is not part of Batavia’s assets,” Pauline told the Jakarta Globe.

“We have asked for audiences to discuss the issue with the curators, the YLKI [the Indonesian Consumer Protection Foundation], the House of Representatives and Batavia Air; but none has responded to our request,” she added.

Pauline accused Batavia of committing a “criminal act,” saying it had hidden the fact that it faced a bankruptcy petition, allowing some travel agents to continue depositing their money as of the afternoon on Jan. 29, before the court delivered its verdict.

She added that Astindo had actually suspected Batavia’s deteriorating financial situation since mid-2012, when it began cutting some routes and reducing the frequency of a number of flights.

It started notifying its members to be wary of depositing their money at Batavia in January, but Batavia continued to deny it was having any financial difficulties.

“They kept receiving fresh cash flow from us. They should have admitted they were facing the bankruptcy petition instead of saying they were just fine, but they kept denying that. This is a criminal act,” Pauline said.

Batavia abruptly ended operations at 12:00 a.m. on Jan. 31 after the Central Jakarta Commercial Court ruled in favor of a bankruptcy petition filed by US-based aircraft leasing firm the International Lease Finance Corporation concerning a $4.68 million debt.

Batavia reportedly failed to pay leasing fees for an Airbus A330 fleet it leased from the US firm at the agreed upon deadline on Dec. 13, 2012. The airline was planning to use the fleet to serve Indonesian hajj pilgrims, but failed to win a bid for that.

Neither Batavia Air nor Indonesia’s Transportation Ministry spokesman Bambang S. Ervan could be reached for clarification on Tuesday over the travel agents’ allegations.

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First Onshore Oil & Gas Find In Malaysia In 24 Years

About 349 metres of net hydrocarbon thickness was found in the Adong Kecil West-1 well after Petronas Carigali Sdn Bhd and its joint-venture partner, JX Nippon Oil & Gas Exploration (Onshore Sarawak) Ltd, drilled the well in Block SK333, which is located about 20km northeast of Miri.

"Two drill-stem tests achieved flow rates of about 440 barrels of crude oil per day and 11.5 million standard cubic feet of gas per day.

"Technical assessments are currently being undertaken by the operator to determine the resource volume of the field," Petronas said in a statement yesterday.

Analysts contacted by Business Times were upbeat on the announcement, describing the onshore discovery as positive to the country's oil and gas industry.

"I do think that the news is positive as this is the first onshore oil discovery in the last 24 years.

"While the news is positive as onshore drilling is much cheaper than offshore drilling, there are not many companies who are actually doing onshore drilling in Malaysia and more reserves will need to be discovered before it is commercially viable to extract the oil out," said OSK Research analyst Danny Chan Tzu Zhung.

RAM Holdings group chief economist Dr Yeah Kim Leng also shared the same sentiment, saying that the discovery will boost the country's economic growth.

"Coming on the heels of several new offshore strikes announced recently, the first onshore oil and gas discovery after a lapse of 24 years will add to positive investor and consumer sentiments prevailing currently as well as boost the country's economic growth prospects in the coming years.

"Additionally, given that development and production costs will be lower than offshore sites, Petronas' profit margin will be higher from these fields," he said.

Based on the drilling results at the Adong Kecil West-1 well, Petronas said there are also indications that the deeper sections in the onshore area may hold additional upside potential for hydrocarbon accumulation.

"However, with the higher borehole pressures expected, drilling operations will be more challenging for the deeper reservoirs and rigs with higher specifications will be required to test such intervals," it said.

To date, three discoveries have been made onshore Sarawak, namely in Miri, Asam Paya and now Adong Kecil West fields.

"These discoveries prove that onshore Sarawak has the potential for more oil and gas accumulations where the Miri Field, Malaysia's first oil field, was discovered way back in 1910," it said.

Further onshore exploration activities will be undertaken by the joint venture to support Petronas' effort to rejuvenate the nation's onshore oil and gas exploration, the company added.

Petronas' total hydrocarbon or oil reserves stand at 27.12 billion barrels of oil equivalent (boe) with an average production of 1.1 million boe per day.

- Btimes

Projek Besar Antara DRB Hicom Dengan Volkswagen

Kumpulan DRB-Hicom (DRB-Hicom) dikatakan sedang merancang satu projek besar dikenali sebagai ‘Kereta Asia’ yang menyaksikan Malaysia menjadi hab bagi pengeluaran kenderaan terbesar Eropah Volkswagen (VW).

Untuk menjayakannya, pemilik DRB-Hicom Tan Sri Syed Mokhtar Al-Bukhary berusaha menyenaraikan syarikat cabang pengedaran kepada DRB-HICOM Bhd itu.

Rancangan itu ialah menyenaraikan Proton Edar dan EON Bhd yang digabungkan sebagai sebahagian daripada rancangan itu, DRB-Hicom sendiri kemungkinan akan dinyahsenaraikan.

“Ia adalah antara pilihan yang ada,” kata sumber yang rapat dengan cadangan itu.

Di bawah pilihan itu, cabang pengeluaran automotif dan unit pertahanan DRB-Hicom akan dipegang secara persendirian oleh satu daripada syarikat yang dimiliki taikun berkenaan.

Pemegang saham sedia ada DRB-Hicom boleh menukar beberapa saham mereka ke dalam syarikat penyenaraian baru itu. Mereka juga akan diberikan tunai antara 50 sen dan RM1 sesaham.

Sementara itu, cabang pembuatan automotif akan disenaraikan semula dalam bentuk yang lain, kemudian nanti di bawah usaha sama DRB-VW.

DRB-HICOM dan VW, pada Ogos 2010, memeterai memorandum persefahaman (MoU) untuk bekerjasama bagi pemasangan dan pengeluaran kenderaan VW di Malaysia.

Ahli Lembaga Pengurusan VW Christian Klinger dilaporkan berkata, memajukan potensi pasaran di rantau Asean adalah penting untuk strategi pertumbuhan jangka panjang Volkswagen Group. Kenderaan itu ketika ini dipasang di kompleks automotif Hicom yang berkeluasan 96 hektar di Pekan, Pahang. Dalam peringkat permulaan, DRB-Hicom tiada rancangan mengembangkan peluasan itu memandangkan mempunyai lebihan kapasiti. Bagaimanapun, ia akan menambah talian pengeluaran tambahan untuk memasang kenderaan VW.

Pengarah Urusan Kumpulan DRB-Hicom Datuk Seri Mohd Khamil Jamil dilaporkan berkata, kemudahan itu akan direka bagi menampung kapasiti 100,000 unit.

- HarianMetro

CIMB Aviva Suitors To Be Accepted This Week

CIMB Group and UK-based Aviva Plc will finalise the buyers of their 51 per cent and 49 per cent stakes respectively in CIMB Aviva Assurance Bhd before the end of this week, according to people with knowledge of the deal.

CIMB is selling its entire controlling stake in the insurance unit to Khazanah Nasional Bhd for US$500 million (RM1.53 billion), they added.

However, it was learnt that both parties could not agree whether Manulife Financial Corp or Sun Life Financial Inc should buy Aviva's stake.

This disagreement has dragged the deal for almost three months.

“The deal was delayed not because of pricing issue. Both Manulife and Sunlife made the same bid,” one of the sources told Business Times.

In 2007, when Aviva paid RM500 million for its 49 per cent stake in the joint venture, it included a long-term bancassurance agreement with CIMB.

However, the joint venture has struggled against some of its rivals.

It is understood that CIMB prefers Aviva to sell to SunLife as it has an existing joint-venture life insurance company in Indonesia with the latter.

PT CIMB Sun Life is a joint-venture company formed in 2009 between CIMB Group, CIMB Niaga and Sun Life Financial.

PT CIMB Sun Life has a bancassurance agreement with CIMB Niaga for the distribution of life insurance products through the latter's network of branches and direct channels in Indonesia.

CIMB is on a regional expansion programme and has become one of the top regional banking groups in the region with an impressive network.

Hence, it wants a strong bancassurance partner and sees the segment as one of its focused areas because it generates higher fee income.

For the winning bidder, the strategic alliance will allow the winner to distribute bancassurance products through CIMB Group's subsidiaries across the region.

CIMB Group is in nine out of 10 Asean nations - Malaysia, Indonesia, Thailand, Singapore, the Philippines, Cambodia, Brunei, Vietnam and Myanmar.

The banking group also wants to raise its overseas revenue contribution to 60 per cent by 2015.

Apart from securing a long-term and multinational bancassurance deal, the added sweetener for the winning bidder is gaining an automatic takaful licence here.

“It is the icing on the cake over the longer term,” said the source.

Malaysia is one of the world's most developed countries for takaful products and Islamic finance in general, with the potential growth of takaful business representing almost 50 per cent of the total insurance premiums in Malaysia by 2015.

Growth of the takaful industry was phenomenal in the past several years. Its new business family contributions have grown by 20.2 per cent per annum on a compounded annual growth rate (CAGR) basis between 2003-2011, compared with a CAGR of 6.3 per cent per annum for conventional new business premiums.

CIMB and Aviva sell takaful products via CIMB Aviva Takaful.

The CIMB Aviva joint venture sale has generated interest from global insurers keen to tap growth prospects in Southeast Asia.

Life insurance premiums are growing fast in the region boosted by a booming middle class.

Other suitors that had shown interest were Prudential plc, AIA and German insurance giant Allianz.

Business Times reported recently that the sale of the joint venture is imminent after learning that Aviva plc has moved Yen Saw, the chief executive officer of CIMB Aviva Assurance Bhd, to Indonesia.

- Btimes

Felda Global May Sell Tradewinds Stake

FELDA Global Ventures Holdings Bhd (FGV) may advertise its 20 per cent pale in Tradewinds (M) Bhd, account an estimated RM551.5 million, to armamentarium approaching acreage expansion.

FGV admiral and arch authoritative administrator Datuk Sabri Ahmad said if the aggregation decides to advertise the stake, the gain will be acclimated in its upstream sector, which is to buy added acreage land.

“However, we will aboriginal appraise the bearings and seek admonition from advance banks afore chief whether to accumulate or advertise the stake.

“We will additionally table the amount at the lath of admiral affair abutting month," Sabri told Business Times over the weekend.

Sabri was commenting on Tan Sri Syed Mokhtar Al-Bukhary’s plan to booty Tradewinds private, of which, sources said, will be restructured into four abstracted entities - rubber, sugar, oil approach and rice.

The humble agent and Malaysia's seventh richest man appear aftermost anniversary he is demography over Tradewinds by alms shareholders RM9.30 for every allotment he does not own in the company.

The accomplished accord is additionally accepted to advance to the privatisation of Tradewinds Plantations Bhd and Padiberas Nasional Bhd (BERNAS).

Tradewinds has stakes in both Tradewinds Plantations and Bernas, which are additionally listed on Bursa Malaysia.

The accomplished accord is accepted to amount RM2.5 billion.

“I anticipate it makes faculty for FGV to advertise the pale rather than accumulate it because at 20 per cent, FGV does not accept administration ascendancy over Tradewinds.

“With gain of over RM550 million, it is bigger for FGV to buy authoritative stakes in abounding added companies,” said a Tradewinds source, who beneath to be named.

According to a account address aftermost week, FGV is accepted to acquire a 188 per cent or RM390.2 actor acknowledgment on advance from its cardinal accretion in Tradewinds in January 2010.

It was additionally appear from January 2010 to date, FGV has accustomed net assets amounting to RM46.3 actor from its 20 per cent disinterestedness in Tradewinds.

Should it adjudge to advertise its absolute pale in Tradewinds at RM9.30 a share, government-linked FGV stands to acquire a asset of RM551.5 million.

The accumulation bought the pale from Grenfell Holdings Sdn Bhd, which is affiliated to the Robert Kuok-controlled PPB Accumulation Bhd, at RM3.50 a share, accretion RM207.5 actor cash.

It is possibly the world's better acreage company, owning over 850,000ha acreage in Malaysia, 500,000ha of which it leases and manages for the country's 112,635 smallholders.

HSBC Sued By Atlanta - Area Counties Over Predatory Lending Claims

ATLANTA - Three Atlanta-area counties have filed a lawsuit claiming that British bank HSBC cost them hundreds of millions of dollars in extra expenses and damage to their tax bases by aggressively signing minorities to housing loans that were likely to fail.

The Georgia counties’ failure or success with the relatively novel strategy could help determine whether other local governments try to hold big banks accountable for losses in tax revenue based on what they claim are discriminatory or predatory lending practices. Similar lawsuits resulted in settlements this year worth millions of dollars for communities in Maryland and Tennessee.

Fulton, DeKalb and Cobb counties say in their lawsuit, which was filed in October, that the housing foreclosure crisis was the "foreseeable and inevitable result" of big banks, such as HSBC and its American subsidiaries, aggressively pushing irresponsible loans or loans that were destined to fail. The counties say that crisis has caused them tremendous damage.

"It's not only the personal damage that was done to people in our communities," said DeKalb County Commissioner Jeff Rader. "That has a ripple effect on our tax digest and the demand for public services in these areas."

The city of Atlanta straddles Fulton and DeKalb counties, while Cobb County is northwest of the city.

The lawsuit says the banks violated the Fair Housing Act, which provides protections against housing or renting policies or practices, including lending, that discriminate on the basis race, color, national origin, religion, sex, family status or handicap.

The counties say their tax digests – which represent the value of all property subject to tax – have declined from a high point in 2009. Fulton's tax digest has dropped about 12 percent, from $32.7 billion to $28.7 billion; DeKalb's has dropped about 20 percent, from $22 billion to $17.5 billion; and Cobb's has dropped about 15 percent, from $25.5 billion to $21.3 billion, the lawsuit says. That reduces their ability to provide critical services in their communities, the lawsuit says.

In addition to reducing tax income, vacant or abandoned homes that are in or near foreclosure create additional costs for the counties, the lawsuit says. Their housing code and legal departments have to investigate and respond to code violations, including having to board up, tear down or repair unsafe homes. They have to deal with public health concerns, such as pest infestations, ruptured water pipes, accumulated garbage and unkempt yards. And fire and police departments have to respond to health and safety threats.

The lawsuit says predatory lending practices include: targeting vulnerable borrowers for mortgage loans with unfavorable terms; directing credit-worthy borrowers to more costly loans; putting unreasonable terms, excessive fees or pre-payment penalties into mortgage loans; basing loan values on inflated or fraudulent appraisals; and refinancing a loan without benefit to the borrower.

The counties are asking the court to order the bank to stop its behavior and to take steps to prevent similar predatory lending in the future. They are also seeking financial compensation for the damages they've suffered and punitive damages to punish the bank for its "willful, wanton and reckless conduct." The counties say the financial injury they've suffered is in the hundreds of millions of dollars.

Andrew Sandler, a lawyer for HSBC and its subsidiaries, said he couldn't comment on the case. A federal judge has given the bank until Jan. 25 to respond to the counties' complaint.

Lawyers for the counties declined interviews on the case, but one of them, Jeffrey Harris, said in an emailed statement that they are continuing to investigate other banks and could file additional complaints.

Similar suits were filed against Wells Fargo by the city of Memphis and surrounding Shelby County in Tennessee in 2009 and by the city of Baltimore in 2008. Those suits were settled earlier this year. Both settlements included $3 million to the local governments for economic development or housing programs and $4.5 million in down payment assistance to homeowners, as well as a lending goal of $425 million for residents over the subsequent five years, according to media accounts.

As in those cases, the lawsuit filed by the Georgia counties says the bank, in this case HSBC, targeted communities with high percentages of Fair Housing Act-protected minority residents, particularly blacks and Hispanics.

"Communities with high concentrations of such potential borrowers, and the potential borrowers themselves, were targeted because of the traditional lack of access to competitive credit choices in these communities and the resulting willingness of FHA protected minority borrowers to accept credit on uncompetitive rates," the lawsuit says.

The lawsuit says minority borrowers were disproportionately targeted with high-cost loans between 2004 and 2007.

Before the beginning of the subprime lending boom in 2003, annual foreclosure rates in metro Atlanta averaged below 1 percent, but U.S. Department of Housing and Urban Development data show that the estimated foreclosure rates for each of the three counties now average more than 9 percent and are as high as 18 percent in the communities with the highest percentages of minority borrowers, the lawsuit says.

It is the alleged targeting of minority communities that entitles the counties to seek action against HSBC for loss of tax income and other expenses, the lawsuit says.

"If you can show that you yourself have suffered harm by an illegal act under the Fair Housing Act, even if you are not the target, even if you are not the intended victim, you can still sue to stop the behavior and to recover any damages that you can prove you suffered because of the violation of the Fair Housing Act," said Steve Dane, a lawyer whose firm was involved in the Memphis and Baltimore lawsuits.

The costs incurred by counties because of high rates of foreclosure are reflected in court records and related fees for each home, and police and fire departments can calculate the costs of responding to a given address, Dane said. He said it takes a lot of time and effort to gather the necessary records to prove the harm.

Another discouraging factor could be a lack of political will, said Lisa Rice, vice president of the National Fair Housing Alliance.

"Politicians may not want to go up against the banks," she said, adding that there will likely be other local governments that give this a try but she doubts the number will be high.

But Jaime Dodge, an assistant law professor at the University of Georgia, says she thinks more cases are likely, at least in the short term as municipal governments continue to feel the squeeze of a tight economy and seek ways to refill their coffers. They may try to test federal courts in different parts of the country, she said. Successes in multiple jurisdictions could lead to more attempts, but if courts start knocking the suits down that would likely discourage them, she said.

- Huffingtonpost

Ducati Malaysia Accoutrements A Bifold At Milan Awards

KUALA LUMPUR: Ducati Malaysia or Next Bike Sdn Bhd, part of the Naza Group, is the winner of the “Best Event 2012” and “Best Sales 2012” categories at the 70th EICMA International Motorcycle Show in Milan, Italy.

The EICMA 2012 exhibition, which was held from November 15 to November 18, saw the participation of 1,046 brands from 35 countries.

The awards were presented during the Ducati World Dealer Conference, held in conjunction with EICMA, where Ducati had also unveiled its latest models for 2013.

Ducati Malaysia bagged two of the four awards that came under the Asia-Pacific category, the company said in a statement yesterday.

Ducati Motor Holding vice-president of global sales Cristiano Silei and Ducati Asia Pacific chief executive officer Mirko Bordiga handed the two awards to Naza group joint executive chairman Datuk SM Faisal SM Nasimuddin during their special visit to Malaysia yesterday.

SM Faisal said the awards showed that the group's commitment to the brand's success in Malaysia is stronger than ever.

- BTimes

UMW Gets SC Approval For RM2b Islamic Bond Issuance

UMW Holdings Bhd will sell RM2 billion of Islamic bonds to partially refinance existing debts and for investments.

The group received Securities Commission approval for the nominal value sukuk programme yesterday.

Maybank Investment Bank Bhd and Standard Chartered Saadiq Bhd are the lead arrangers for the 15-year issuance.

The notes have been given the highest investment grade credit rating of "AAA" by RAM Rating Services Bhd.

UMW will use part of the proceeds raised to settle or redeem its existing Islamic commercial papers/Islamic medium-term notes (ICP/IMTN) programme of up to RM300 million and IMTN programme of up to RM500 million in nominal value.

It will also use the money to finance its working capital as well as future projects, investments and capital expenditure.

Part of the proceeds will also be used to refinance UMW Group's borrowings and defray expenses incurred from the setting up of the programme.

The group said the programme will not have any material effect on its earnings for the financial year ending December 31 2012.

- BTimes

MAS Beli 36 Pesawat ATR 72-600

SUBANG JAYA 18 Dis. - Malaysia Airlines (MAS) hari ini memperoleh 36 pesawat baharu ATR 72-600 dengan nilai RM3 bilion daripada ATR, iaitu syarikat pengeluar turboprop yang berpangkalan di Toulouse, Perancis.

Ketua Pegawai Eksekutif dan Pengarah Urusan MAS, Ahmad Jauhari Yahya berkata ATR telahpun komited untuk menghantar tiga pesawat turboprop tahun depan, lima lagi tahun berikutnya dan enam pada tahun 2015.

“Daripada sejumlah 36 pesawat, Firefly akan mendapat 20, sementara MasWings pula 16,” kata beliau dalam persidangan akhbar untuk memaklumkan mengenai peluasan rangkaian Firefly hari ini.

Ahmad Jauhari berkata kelebihan operasi turboprop ialah keupayaannya untuk mendarat dan berlepas dengan amat pantas, kurang daripada 30 minit, sekali gus menyaksikan peningkatan kekerapan penerbangan.

“Pada masa ini, orang ramai mengembara mengikut keselesaan masing-masing, jadi, kekerapan ataupun frekuensi amat penting,” kata beliau sambil menambah yang pemilikan pesawat baharu itu akan dibiayai dengan dana dalaman, dalam lingkungan kumpulan MAS.

- Utusan

Lelong.My | Tahun Depan RM500j

Interbase Resources Sdn Bhd atau Lelong.my, menyasar peningkatan urus niaga jualan menerusi laman webnya tahun depan kepada RM500 juta daripada purata tahunan antara RM200 juta hingga RM250 juta kini.

Pengarah Urusannya Richard Tan, (gambar) berkata syarikat itu yakin dapat mencapai sasaran itu menerusi kerjasama barunya dengan Telekom Malaysia Bhd (TM).

Kerjasama itu membabitkan gabungan terbarunya, Web Store Lelong.my, yang ditampilkan dalam aplikasi MarketingTools TM.

Ia disasarkan untuk penggunaan teknologi maklumat dan komunikasi di kalangan perusahaan kecil dan sederhana (PKS) dalam operasi perniagaan mereka.

“Penggunaan e-dagang berkembang dengan pesat dalam tempoh dua tahun lalu apabila kaji selidik oleh Paypal baru-baru ini menyasar nilai e-dagang sebanyak RM1.9 bilion pada 2011 meningkat kepada RM3.5 bilion pada 2015 bagi Malaysia.

Semua perniagaan

“Ia bukan lagi satu pilihan, ia adalah suatu yang perlu ada bagi semua perniagaan, sama ada kecil atau besar,” katanya kepada media selepas majlis pemeterian dengan TM di Kuala Lumpur, semalam.

Katanya, kini, Lelong.my mempunyai kira-kira 10,000 penjual aktif dan menyasar meningkatkan bilangan ini sebanyak 5,000 penjual baru dalam tempoh 12 bulan akan datang.

Naib Presiden Eksekutif TM bagi PKS, Azizi A Hadi, berkata Web Store Lelong.my adalah yang ketiga ditampilkan dalam MarketingTools TM selepas Infoblast dan SME Priority Listing oleh Internet Yellow Pages.

“MarketingTools, yang dilancarkan pada Mei tahun ini, berjaya menarik lebih 2,000 pengguna PKS dan dengan kerjasama baharu ini, kami menyasar mendapatkan 5,000 PKS baru dalam aplikasi ini dalam tempoh 12 bulan akan datang,” katanya.

Web Store Lelong.my menyediakan penyelesaian e-dagang standard antarabangsa berkuasa yang membantu perniagaan meningkat ke paras seterusnya tanpa sebarang perkakasan atau pengetahuan teknikal.

- BeritaHarian

Syarikat TAKAFUL | Declares Additional Dividend

KUALA LUMPUR: Syarikat Takaful Malaysia Bhd has declared a additional distinct bank acting allotment of 10 per cent for its banking year catastrophe December 31 2012.

This brings its absolute acting distinct bank assets declared to 25 per cent for the accepted banking period, advice into a allotment crop of 4.62 per cent based on the company’s closing allotment amount of RM5.41 on December 13.

“The absolute acting allotment represented a payout arrangement of about 60 per cent of the net profits generated for the periods concluded September 30 2012,” Syarikat Takaful said in a account yesterday.

The allotment declared followed the group's recently-announced third division after-effects area it appear a 55 per cent advance in its profits afterwards taxation and zakat at RM67.4 actor from RM43.6 actor for the aforementioned aeon aftermost year.

The group’s third division operating acquirement added by 24 per cent to RM1.29 billion from RM1.04 billion in the aforementioned aeon aftermost year.

“Buoyed by three able abode of advance in profits and barring any abrupt circumstances, the accumulation is assertive to accomplish addition almanac breaking year,” it said.

The company’s lath had in August 7 declared an acting allotment of 15 per cent (RM24.42 million) distinct bank for the banking year catastrophe December 31 2012, which was paid on September 21.

This, it said, translates into annualised allotment crop of 3.85 per cent based on closing amount of RM5.20 on November 19, alone based on acting allotment paid.

- BTimes

MAYBANK | More Clandestine Cyberbanking Centres, Lounges

KUALA LUMPUR: Malayan Banking Bhd’s (Maybank) consumer banking sector plans to open five new private banking centres and eight new lounges next year.

Maybank deputy president & head of Community Financial Services Lim Hong Tat said that the bank would expand its network to at least 34 Private Banking Centres and 35 Private Banking Lounges (lounges are within the branches), which will be located at major towns and cities throughout Malaysia to cater to the growing demand for private banking services.

“The five new centres are expected to be at Kepong, Kajang, Seremban, Desa Damai and Sungai Petani, while the eight new lounges will be strategically located throughout the nation,” he said in a statement.

Lim said that the bank had recorded strong growth in this market segment with an average annual growth rate of 16 per cent in total financial assets (TFA) in the last five years.

He said the sustained economic growth in the country, which resulted in rising affluence, was expected to continue to boost demand for more personalised banking services among the population.

“We are expecting our total financial assets (TFA) under this segment to grow between 18 per cent and 20 per cent next year. It will bring our TFA to about RM70 billion by end of 2013.”

He added that growing sophistication of customers also meant that they were looking for new avenues and more innovative products to grow their wealth, despite the challenging economic conditions.

“Private banking centres are not just outlets for personalised banking transactions, but also venues where customers can obtain value-added services such as briefings on investment opportunities, financial advice, as well as access to asset management services, all of which we are able to offer owing to our diverse range of capabilities and experience.”

Lim added that Maybank will also introduce more new products next year to cater to the needs of this customer segment.

“We have just launched a first-of-its-kind Maybank private banking account for our private-banking customers. This account is 'by-invitation-only' and provides attractive interest-bearing features together with checking facilities, as well as a suite of other privileges and benefits.”

- BTimes