18  theSun | TUESDAY FEBRUARY 17 2009

KLCI 907.19 2.65 Nikkei 7,750.17 29.23

business STI 1,683.31 22.33 TSEC 4,591.26 1.24
Hang Seng 13,455.88 98.79 KOSPI 1,175.47 16.97
SCI 2,389.39 68.60 S&P/ASX200 3,516.90 42.20

market summary

Govt urged to help local

FEBRUARY 16, 2009

INDICES CHANGE
FBMEMAS unavailable
COMPOSITE 907.19 -2.65
INDUSTRIAL 2,124.41 -7.97
CONSUMER PROD 286.80 -2.01

construction industry
INDUSTRIAL PROD 67.63 -0.39
CONSTRUCTION 170.70 -1.74
TRADING SERVICES 118.93 -0.36
FINANCE 7,168.94 -13.35
PROPERTIES 540.73 +2.61
PLANTATIONS 4,622.54 +20.22
MINING 243.17 +10.13
FBMSHA unavailable
KUALA LUMPUR: The government has to take It said the government must do something FBM2BRD: unavailable
cognition of the policies and positive implications to encourage manufacturers to provide better TECHNOLOGY 13.43 +0.22
initiated by neighbouring countries to improve construction material prices for the Malaysian TURNOVER VALUE
on and mitigate risks in the local construction building industry.
399.514mil RM496.341mil
industry. In Malaysia, construction material prices
The Master Builders Association Malaysia especially for steel bars, was still approximately
(MBAM), in a statement yesterday also said it was 10% above regional prices and for cement it was
high time that something was done to remove
bottlenecks in bringing the Construction Indus-
15%.
MBAM pointed out that for Malaysia to stay
Prices end
try Payment and Adjudication Act into force, as
contractors were facing very difficult times due
competitive, especially in the current tough eco-
nomic climate, the government needed to quickly
mixed,
to the tough construction environment.
The association said it would be of some relief
if contractors were assured or given security in
implement not just a second stimulus plan that
was impactful but also focus on key strategies
that would enable the local construction industry
KLCI stays
the key issue of payment.
According to MBAM, the construction industry
and the country to be resilient.
The MBAM said it was looking forward to a
above 900
in Malaysia had been pushing for the Act since bigger second stimulus package that would have SHARE prices on Bursa Malaysia
2004. However, it added that after five years, a greater and more impactful multiplier effect to were mixed at close yesterday amid
there had been little progress. pump prime Malaysia’s economy. – Bernama interest seen on plantation stocks on
expectations of better earnings as
crude palm futures hit a five-week
peak on Friday, said dealers.

Tanjung Agas park to spur

However, losses on some key
heavyweights sent the benchmark
KLCI to 907.19, losing 2.65 points.
It opened 0.68 of a point lower

O&G industry in east coast this morning while throughout the

by Tim Leonard
newsdesk@thesundaily.com
KUALA LUMPUR: The Tanjung Agas Oil & Gas
and Maritime Industrial Park in Pekan, Pahang
is set to be a catalyst of growth for the oil and gas
industry in the east coast region.
Launched yesterday by the Sultan of Pahang,
Sultan Ahmad Shah, the park, to be developed
by Tanjung Agas Supply Base & Marine Services
Sdn Bhd, incorporates a land area measuring
1,658.3ha in the royal town of Pekan.
The park will feature, among others, a ship-
yard, a dockyard, a fabrication yard, a liquid bulk
terminal and various other features to cater to the
rapidly growing upstream and downstream oil
and gas exploration and production activities.
Commercial and residential units will also
be built in tandem with the development of the
park.
Its chairman, Tengku Muda Pahang Tengku
Abdul Rahman, said the park will be a modern
one-stop service centre and offshore base to serve
and support the region’s oil and gas industry as
well as the maritime industry.
“There is a lot of interest in the park and we
expect to attract key players in the oil and gas
industry,” said Tengku Abdul Rahman.
“Petronas, its vendors and suppliers are con-
sidering becoming residents of the park and we
will do our best to serve them,” he said.
He added that the development will feature
a mini LNG (liquefied natural gas) receiving
terminal, world-class infrastructures and facili-
ties, as well as a comprehensive range of support
services.
Out of the total acreage, some 224ha will be
allocated for a shipyard, 114ha for residential and
commercial development, 100ha for a fabrication
yard, 40ha for a dredger yard and 202ha for a
supply base, fabrication and oil and gas wharves
for repair and lay-ups.
Warehouse, factories and commercial de-
velopment will take up 462ha while petroleum
terminal and bulk terminal will take up 202ha
and 60ha respectively.
A steel billet plant will be built on 150ha while
a manufacturing plant on the remaining 40ha.
session, it moved between 909.16
and 904.20.
Dealers said investors seemed
worried over the rising crude oil
price, which went up as much as
10% last Friday, as it could lead to
higher operating cost.
The FTSE Bursa Malaysia indices
(FBM indices) however will not be
available to the market for the time
being due to a glitch in the price
dissemination system, according to
Bursa Malaysia.
Both Securities and Derivatives
markets resumed normal trading in
the afternoon session after halting
at 12.19pm following a problem with
the system.
Volume leaders Compugates
added a sen to 17 sen, Malaysian
Resources Corp was flat at 88.5 sen
and UEM Land Holdings edged up 1.5
sen to 78.5 sen.
Key heavyweights that dragged
the KLCI lower were Tenaga Nasional
and Maybank which lost five sen each
to RM6.30 and RM5.50 respectively.
Plantation-based Sime Darby
and IOI Corp meanwhile were flat

AirAsia plans KL-Kathmandu route at RM5.70 and RM3.86 respectively

NEW DELHI: Kathmandu-based Incentive
group of companies is close to finalising talks
with AirAsia to begin direct flights from Kuala
Lumpur to the Himalayan capital.
Incentive group chairman Hariman Lama
said regardless of the ongoing global economic
slowdown, both parties were sorting out final de-
tails to operate the first chartered flight between
the two destinations by this July.
“Final discussions are under way, we need to
finalise some fee issues, like the ground-handling
charges and the airport tax. We are discussing
with the Nepalese government and Nepal Tour-
ism Ministry,” Lama told Bernama.
“By July we will have our first charter flight
and later operate full commercial flight,” he said
from Kathmandu.
EPF introduces anti-fraud, whistleblowing policies
PETALING JAYA: In efforts to further heighten
the prevention and detection of wrongdoings, the
Employees Provident Fund (EPF) has introduced
anti-fraud and whistleblowing policies.
“With the introduction of the anti-fraud policy, we
are taking the EPF to a higher level of transparency
and corporate responsibility,” said its chairman Tan
Sri Shamsudin Osman.
He said the move also shows EPF’s zero-
tolerance towards any attempt of fraud and to
complement the policy, EPF’s own whistleblowing
Lama said initially there would be two flights
per week, largely targeting the tourist segment
and the increasing Nepalese students heading to
Australia via Malaysia for high education.
“We will be targeting Korean and Japanese
tourists visiting Kota Kinabalu, and AirAsia has
flights to Sabah. So we can use Kuala Lumpur as
a gateway. Recently Kuala Lumpur has become
a major destination for Nepalese and they will
add to our traffic volume,” he said.
About 400,000 Nepalese are currently work-
ing in Malaysia.
At present, only Nepal Airlines operates direct
flights to Malaysia from Kathmandu.
Last month, AirAsia X, a subsidiary of AirAsia,
started its inaugural flight to India by connecting
to Tiruchi, the fourth largest city in south India.
policy will protect those who report fraud and
wrongdoings.
The whistleblowers will have direct access to
appropriate authorities based on the position of the
suspected wrongdoer.
A report can be made against anyone connected
with the EPF, including board members or members
of the investment panel if fraud is suspected.
“This is consistent in maintaining the highest
standards of good governance to enable us to serve
our members effectively,” Shamsudin said.
while Kuala Lumpur Kepong added
10 sen to RM11.10. – Bernama
Affin Bank
keeps card
charge at 9.99%
KUALA LUMPUR: Affin Bank
Bhd announced yesterday its credit
card finance charge at 9.99% per
annum remains as the lowest in the
country.
The bank said that maintaining a
single-digit finance charge was part
of its ongoing efforts to offer products
and service with tangible value to
customers in order to support their
financial needs.
The finance charge is offered to
all new and existing Affin Bank card
holders, it said in a statement.
To enjoy the 9.99% rate, customers
need to pay the monthly minimum
payment required on or before the
due date, it added.
“At Affin Bank, we have been
maintaining our rate at 9.99 percent
since August 2007,” said managing
director and chief executive officer
Datuk Abdul Hamidy Abdul Hafiz.
– Bernama