16  theSun | TUESDAY JULY 28 2009

business

Qualitas set to be key Handal Resources to

raise RM13m from listing
KUALA LUMPUR: Handal Resources Bhd, an integrated off-
shore crane service and manufacturing provider in the oil and

regional player
KUALA LUMPUR: Qualitas
Medical Group Ltd is set to be-
come the leading regional health-
care services group through its
recent acquisitions of clinics and
dental centres in India and New
Zealand.
“It is our vision to grow the
group into a leading regional
healthcare group,” said Qualitas
founder, chairman and managing
director Datuk Dr Noorul Ameen
Mohamed Ishack.
“Since our listing in September
2008, we have been working on
scaling up our Malaysian opera-
tions and pursuing growth oppor-
tunities in the region,” he said in a
statement yesterday.
Qualitas announced on June
30, 2009, that it had completed
the acquisition of 48% stake in
Peak Primary Ltd (PPL), a New
Zealand primary healthcare chain,
for NZ$2.5 million (about RM5.2
million).
Separately, it also announced
that it has acquired a 40% stake
in V.V. Dentistree India Private
Limited, a specialised dental care
chain in South India, for 20 mil-
lion Indian rupees (about RM1.48
million).
These acquisitions will add
three primary healthcare clinics
in New Zealand and five dental
centres in Chennai, South India, to
the group’s regional network.
In addition to its Malaysian op-
erations, the group currently has a
clinic with diagnostic facilities in
India and three affiliate clinics in
Cambodia.
According to Noorul Ameen,
the acquisition of a strategic stake
in PPL will enable Qualitas to enter
New Zealand, a new market, and
gain a foothold in the Australasia
region.
“In India, our strategic stake in
Dentistree not only strengthens our
existing presence but also marks
our foray into the field of dentistry,
which complements our existing
diagnostic services,” he said.
He said despite the challenging
economic environment, Qualitas
was confident that the demand
for essential primary healthcare
services in the region remained
resilient.
“We will continue to focus on
exploring growth opportunities
both in Malaysia and in the region.
Ultimately, we aim to replicate the
successful ‘Qualitas’ brand name
and business model in the region,”
he said.
Noorul Ameen said that rising
income levels and increased
awareness of the need for dental
care has led to substantial demand
for dental care services in India.
The changing patterns of oral
diseases have also led to greater
need for proper dental care serv-
ices, which are now made afford-
able by technology, he said.
“As such, we are optimistic that
our investment in Dentistree is
a timely and strategic move,” he
added.
The investments in PPL and
Dentistree will be funded by
proceeds from the group’s initial
public offering in 2008.
Established in 1997, Qualitas
operates through a large network
of clinics, predominantly in Malay-
sia and recently in the Asia Pacific
region.
The group has one of the larg-
est networks of clinics in Malaysia,
with 160 clinics operating under
its ‘Qualitas’ brand name across
the country. – Bernama
gas industry, expects to raise gross proceeds of RM13.32 million
from its listing exercise.
In a statement yesterday, the company said that bulk of the
proceeds will be used for business expansion, mainly in East
Redknapp, Malaysia and neighbouring Southeast Asian countries.
Zola look The company said it may also expand its business reach to
other countries, such as those on the African continent should
for early business opportunities arise in the future.
season Handal Resources is scheduled to be listed on the Second
Board of Bursa Malaysia on Thursday.
edge in Besides organic growth, the company is also exploring the
China
prospects of expansion through acquisitions, joint ventures and
pg 31 strategic alliances in the oil and gas industry that will comple-
ment the current and future businesses.
Handal Resources is one of two American Petroleum Institute
licensed companies operating in Malaysia that manufactures
offshore pedestal cranes.
It is the only company in the country to provide fully inte-
grated offshore crane services in the oil and gas industry.
To date, Handal Resources stands out with zero defects on 15
new cranes delivered and zero warranty call-outs on 60 cranes
reconditioned.
The company said it has also invested in 14 API 2C offshore
pedestal cranes for the crane rental business.
Its manufacturing operations are currently located on a 1.2ha
yard in the Kemaman Supply Base and the group has acquired a
4ha yard located at the Teluk Kalong Industrial Area nearby.
The new yard has just come onstream, with the capacity
to manufacture, service, maintain and overhaul an average of
30 offshore cranes per year as compared to the current plant’s
capacity of 12 cranes per year. – Bernama
an all-in-fare from RM129.
The booking period for the second
frequency will be from July 28 - Aug 2
briefs for the travel period of Sept 1 - April 30.
– Bernama
TM names new
Goldis Water secures chairman
RM13.8m job in China KUALA LUMPUR: Telekom Malaysia

Smart Partnership Dialogue helps KUALA LUMPUR: Goldis Water Pte Ltd,
a wholly-owned subsidiary of Goldis
Bhd, has clinched a RM13.8 million
Bhd (TM) has appointed Datuk Dr
Halim Shafie (pic)as its new chair-
man effective July 31, succeeding

Africa embrace economic growth wastewater treatment plant conces- Tan Sri Muhammad Radzi Mansor.
sion in China. Muham-
Goldis Water will operate the 25-year mad Radzi
concession through Zoucheng Xincheng completed
BERNAMAPIX

MUNYONYO (Uganda): The Glo-
bal Smart Partnership International
Dialogue which Malaysia initiated
in 1997 has helped African countries
embrace a new era of economic
growth and development through
shared ideas and experiences,
former prime minister Tun Dr
Mahathir Mohamad said.
For instance, the Uganda gov-
ernment took a bold move to pro-
mote the country as a “destination
of choice” for tourists around the
globe following discussions during
the dialogue last hosted by Kam-
pala in 2001.
This resulted in the develop-
ment of a world-class tourism
infrastructure as could be seen
in Munyonyo near Kampala, the
capital of Uganda, he said here on
Sunday.
The Speke resort in Munyonyo
is a luxurious resort located on the
shores of Lake Victoria, located
some 12km from Kampala.
“The development of Speke
Resort in Munyonyo is one of the
end products of our discussion
during the Smart Partnership
UOB eyes RM350m from new insurance product
KUALA LUMPUR: United Overseas
Bank Bhd (UOB) expects to reap
RM350 million premium within the
next two years from its new insur-
ance product, Gain Assure II which
guarantees a minimum income
bonus of 3.5% annually.
UOB senior head of personal
financial services, Tay Han Chong, said
the bank was confident of securing
RM50 million in premium in the next
few weeks following its launch here
yesterday.
“We foresee that this product
Mahathir speaks at a press
conference in Munyonyo yesterday.
International Dialogue hosted by
Uganda in 2001,” he said when
asked to comment on the level
of success achieved through the
dialogue so far.
He cited how African countries,
taking Malaysia as a role model,
adopted Kuala Lumpur’s “secret of
will be well received by customers
in view of the guaranteed minimum
3.5% income bonus on the single
premium invested,” he told reporters
after the launch.
The Gain Assure II, aimed at cus-
tomers who prefer low risk investment
while enjoying insurance protection,
offers them the option of premium
payments ranging from RM5,000 to
RM500,000. It is open to investors
from 14-days old to 60 years.
The insurance is offered in
collaboration with Uni.Asia Life
success” in Southeast Asia to help
develop their economies in various
fields which brings hope to mil-
lions of people in the continent.
“This is a learning process for
them and at the same time we
also learned about their problems
and try to help find solutions,” he
said.
Mahathir is here to attend the
19th Global Smart Partnership
Dialogue, of which he is a found-
ing member and which Uganda is
hosting for the second time after
the first in 2001.
Deputy Prime Minister Tan
Sri Muhyiddin Yassin is lead-
ing Malaysia’s delegation to the
dialogue which had its roots
in the Langkawi International
Dialogue in 1995 and which has
since spawned similar dialogues
in Southern Africa.
Mahathir said he places high
importance on the dialogue as
it helps identify problems and
limitations that might restrain
the implementation of planned
development programmes, par-
ticularly in Africa. – Bernama
Assurance Bhd.
Meanwhile, Uni.Asia Life Assur-
ance chief executive officer, Ooi Say
Teng, said its Bancassurance division
has contributed significantly towards
the growth of its new business sales
production.
He said the division stood at
number two out of 16 life insurance
companies last year with a market
share of 24% for new business regu-
lar premium. “We are aiming to be
number one in the first half of this
year,” he said. – Bernama
Waste Water Co Ltd. The concession
includes the building, financing and
maintenance of the treatment plant at
the Zou Cheng Industrial Park.
Zoucheng Xincheng Waste Water di-
rector Lee Choon Kok said construction
of the project would start next month.
– Bernama
MAS bargains on North
Asian destinations
KUALA LUMPUR: Malaysia Airlines
(MAS) is offering bargains for des-
tinations to North Asia under its
“Get-the-Deal”, with RM300 for a
one-way ticket to Taipei and RM440
to Kaohsiung.
The bargains from the national
carrier include a ticket priced at
RM697 to Osaka, RM713 to Tokyo
and RM740 to Seoul.
MAS senior general manager,
network and revenue management,
Dr Amin Khan, said to enjoy the
offers, customers only needed to
register at the “Get-the-Deal” sec-
tion at the airline’s website, www.
malaysiaairlines.com.
“Since the “Get-the-Deal” was
launched a couple of months ago,
we have sold some RM50 million
worth of tickets,” he said in a state-
ment yesterday.
MAS flies to 13 times weekly to
Taipei, 11 times to Tokyo, six times
to Osaka and Seoul, and five times
to Kaohsiung. – Bernama
More AirAsia flights
to Tricy
KUALA LUMPUR: AirAsia Bhd will
increase its highly popular KL-Tiruch-
irappalli (Tricy) route, to two direct daily
flights from Sept 1.
In a statement yesterday, the carrier
said to celebrate the introduction of the
second KL-Tricy frequency, it is offering
the fifth
term of his
tenure as
chairman of
the TM board
after having
served for
10 years
since his ap-
pointment in
1999.
In filing to Bursa Malaysia yes-
terday, TM said that Halim is no
stranger to TM and the industry,
having served as chairman of the
Malaysian Communications and
Multimedia Commission (MCMC)
from 2006 to 2009.
Halim has also served on the TM
board, first as an alternate director
from 1999 until 2000 and thereafter
as a substantive director until 2004.
– Bernama
Staedtler to close
Temerloh plant
KUALA LUMPUR: Staedtler, the Ger-
man-based writing instrument com-
pany, will close its manufacturing plant
in Temerloh by the end of April next
year as part of its plans to consolidate
its global production plants.
Its Malaysian sales, marketing,
finance, administration and warehous-
ing will be retained locally and the
company will continue to ensure its
customers’ expectations of high quality
and service are met, the company said
in a statement yesterday.
It said as a result of this consolida-
tion, its manufacturing will be concen-
trated at fewer production plants.
“The closure is in no way a reflection
on the company’s employees or on its
performance in Malaysia,” Staedtler
Malaysia Berhad CEO Mandout Assim
said.
He said the plant closure will result
in the loss of about 200 jobs.