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16 theSun | FRIDAY JUNE 26 2009

business KLCI
STI
1,074.11
2,302.46
16.26
23.50
Nikkei
TSEC
9,796.08
6,457.61
205.76
77.53
Hang Seng 18,275.03 382.88 KOSPI 1,392.73 28.94
SCI 2,925.05 2.75 S&P/ASX200 3,856.00 49.00

KL market summary
JUNE 25, 2009
INDICES
FBMEMAS
CHANGE
7,198.64 +118.90
CI tracks gains on regional markets
COMPOSITE 1,074.11 +16.26 SHARE on Bursa Malaysia finished higher 159 while 199 counters were unchanged, 358
INDUSTRIAL 2,342.26 +20.24 yesterday, driven by selected blue-chips and untraded and 36 suspended.
CONSUMER PROD 320.10 +4.69 lower-liners, as the market tracked gains on Turnover rose to 1.493 billion shares worth
INDUSTRIAL PROD 85.18 +1.15 regional bourses, dealers said. RM1.522 billion from 1.352 billion shares
CONSTRUCTION 205.41 +5.23 They said sentiment was boosted by the worth RM1.336 billion yesterday.
TRADING SERVICES 142.93 +2.63
Federal Open Market Committee’s decision Among actives, KNM Group rose 2.5 sen to
FINANCE 8,527.85 +114.43
PROPERTIES 716.14 +9.74 to leave key lending rate at a low of zero to 88 sen, Sino Hua-An International added 6.5
PLANTATIONS 5,398.17 +37.30 0.25% yesterday. sen to 53 sen, Tebrau Teguh went up two sen
MINING 279.65 +8.11 A dealer said another reason was the to 79 sen and MK Land
FBMSHA 7,445.31 +122.04 Organisation for Economic Cooperation and Holdings gained four sen to 43.5 sen. EXCHANGE RATES June 25, 2009
FBM2BRD 4,795.72 +35.41 Development’s positive forecasts for the In heavyweights, Sime Darby rose five
TECHNOLOGY 14.39 +0.18 economies of its 30-member nations. sen to RM6.85, Maybank gained 15 sen to Foreign currency Bank sell Bank buy Bank buy
TURNOVER VALUE
The KLCI rose 16.26 points to close at RM5.90, Tenaga increased 25 sen to RM7.80 TT/OD TT OD
1,074.11. and Bumiputra-Commerce Holdings went up 1 US DOLLAR 3.5700 3.5050 3.4950
1.493bil 1.352bil
Gainers outnumbered losers by 510 to 15 sen to RM8.95. – Bernama
1 AUSTRALIAN DOLLAR 2.8920 2.7660 2.7500
1 BRUNEI DOLLAR 2.4590 2.3990 2.3910
1 CANADIAN DOLLAR 3.1030 3.0280 3.0160

Airlines struggle as flu
1 EURO 4.9990 4.8780 4.8580
1 NEW ZEALAND DOLLAR 2.3180 2.2160 2.2000
1 PAPUA N GUINEA KINA 1.4660 1.2280 1.2120
1 SINGAPORE DOLLAR 2.4585 2.3990 2.3910
1 STERLING POUND 5.8950 5.7530 5.7330
1 SWISS FRANC 3.2670 3.1880 3.1730

adds to woes: IATA
100 ARAB EMIRATES DIRHAM 98.9300 93.7000 93.5000
100 BANGLADESH TAKA 5.5200 5.2000 5.0000
Federer 100 CHINESE RENMINBI N/A N/A N/A
on fast 100 DANISH KRONE 69.1400 63.5400 63.3400
track in 100 HONGKONG DOLLAR 46.8900 44.4100 44.2100
GENEVA: Airlines need to tackle a over the Easter period. passenger revenue in the first quarter, pursuit of 100 INDIAN RUPEE 7.6400 7.0200 6.8200
“dramatic” plunge in revenues in the Swine flu probably depressed air we estimate that the drop accelerated history 100 INDONESIAN RUPIAH 0.0360 0.0310 0.0260
industry’s “worst” crisis ever, IATA travel by about one percent globally to as much as minus 30% in May. 100 JAPANESE YEN 3.7370 3.6450 3.6350
said yesterday as international air in May, the first full month to feel the This crisis is the worst we have ever
pg 29
100 NEW TAIWAN DOLLAR N/A N/A N/A
travel continued to drop in May partly impact of the pandemic, IATA said. seen.
100 NORWEGIAN KRONE 57.1700 52.2900 52.0900
due to H1N1 flu. However, the decline in air pas- “Airlines are in survival mode.
Despite signs that the slump in senger traffic slowed in April and May Cutting costs and conserving cash are 100 PAKISTAN RUPEE 4.4800 4.1900 3.9900
passenger traffic since late last year compared to March, indicating “that a the priorities,” the IATA chief added. 100 PHILIPPINE PESO 7.5600 7.1200 6.9200
may be tailing off, the International floor may now have been reached.” Carriers in Mexico, where the 100 QATAR RIYAL 99.6200 94.7600 94.5600
Air Transport Association (IATA) Nonetheless, average passenger swine flu outbreak emerged, experi- 100 SAUDI RIYAL 96.6800 91.9600 91.7600
said there was still significant excess loads per flight continued to decline enced a 40% drop in demand in May, 100 SOUTH AFRICAN RAND 45.7400 42.0800 41.8800
capacity in the airline industry. as the industry failed to cut capacity IATA said.
100 SRI LANKA RUPEE 3.2100 2.9500 2.7500
“We may have hit bottom but we as quickly as demand slumped, while The association groups some 230
are a long way from recovery,” IATA air freight fell by 17.5% in May. carriers accounting for more than 100 SWEDISH KRONA 46.9400 42.5800 42.3800
director-general Giovanni Bisignani “Capacity is not aligned with de- 90% of scheduled international air 100 THAI BAHT 11.2200 9.5200 9.1200
said in a statement. mand. Passenger load factors dropped traffic. Source: Malayan Banking Berhad Bernama
Passenger traffic fell 9.3% last 3.3% points over the last 12 months. It does not include exclusively
month following a year-on-year The impact on revenue is dramatic,” low-cost airlines such as Ryanair
decline of 3.1% in April, a month said Bisignani. and EasyJet whose own figures have
traditionally buoyed by holiday travel “After a 20% fall in international similarly shown sharp falls. – AFP
briefs
Sports Toto to
launch Power Moody’s sees negative outlook Australia out of millionaires top 10
SYDNEY: The global financial crisis has sent the number

Toto 6/55 for SE Asian banking systems of millionaires in Australia plunging and forcing it out of
the world’s top 10, according to a new survey.
Despite escaping the worst of the downturn so far,
lotto game KUALA LUMPUR: Moody’s Investors Service sees
a negative industry outlook for banking systems in
The report concluded the Indonesian analysis
by saying that, restructured loans – although much
Australia’s number of high-flyers dropped 23.4% to
129,000 by the end of 2008, placing it 11th out of 71
Southeast and South Asia. reduced –- are vulnerable to a downturn and could countries, the Merrill Lynch-Capgemini study said.
KUALA LUMPUR: Sports Toto The view reflects the impact of the slowdown be a problem for state-owned banks. Australia had been a member of the exclusive top-10
Malaysia Sdn Bhd, a wholly-owned in global and domestic economies on the region’s As for Singapore, the Moody’s report said loan club since 2006, said Capgemini Financial Services senior
subsidiary of Berjaya Sports Toto banks. “The slowdowns are clearly making them- demand had softened, while credit costs were manager Wayne Li.
Bhd, has received the approval to re- selves felt in the performance of banks in the rising as the repayment capabilities of borrowers “The decline in our high net worth population meant
place one of its existing lotto games, region,” said Jerry Chien, managing director for had been gradually impacted. that Australia slipped in its global ranking from number 10 in
6/42 Jackpot, with another under the Moody’s Financial Institutions Group in Asia Pacific. It also said that market-sensitive income is 2006 and 2007 to number 11 in 2008,” Mr Li said. – AFP
name of “Power Toto 6/55”. By contrast, rating outlook vary, between stable likely to remain volatile.
In a statement here yesterday, and negative, he said in a statement issued by Turning the spotlight on the Philippines, the
Sports Toto said it expects to launch Moody’s. report revealed that loan growth will slow, but China plans huge wind farm
the 6/55 game in late 2009 once Chien was speaking following the release probably stay positive, while falling interest rates BEIJING: China is aiming to build a huge wind farm in
it has developed the software to of Moody’s latest annual Asian Banking System are placing additional pressure on bank margins. the northwest by 2020 that will have energy capacity
accommodate the game. Outlook, which covers 16 jurisdictions. In addition, the challenges in the economic and similar to the gigantic Three Gorges Dam, a senior
It said the 6/55 is expected to be The report is authored by senior analysts with financial markets would depress bank earnings official said yesterday.
the front-runner among its other the Moody’s Financial Institutions team. and pressure asset quality, but no significant credit Feng Jianshen, a vice governor of Gansu province,
present lotto-type games namely, According to the report, in Malaysia, loan de- losses are expected. told reporters that the province planned to expand
6/49 and 6/52. mand will soften and credit costs will rise as less When looking at the prospects of Asia’s banks the installed capacity of its wind power base to more
Sports Toto is confident the new robust earnings weaken the repayment capabili- as a whole, the Moody’s report sees challenges than 20 gigawatts in 11 years, more than 10 times
game would be well-received by the ties of borrowers. in light of the severe and protracted nature of the the current level.
public. The report also indicated that there was keen current global recession. “Gansu will have built a ‘Three Gorges on the land’
“The 6/55 has a much larger competition – which will pressure product margins Moody’s said that the report basically reflected by then,” he said, referring to the country’s US$23-
matrix with a minimum guaranteed – while a weaker property market could reduce its cautious stance over the next 12 months. billion (RM80.5 billion) dam that spans the middle
upfront jackpot of RM3 million,” it the recovery prospects of problem loans. It added that while mildly positive macro-eco- reaches of the Yangtze River. – AFP
said. In Thailand, the intrinsic financial strength of nomic indicators and signs of a stock market re-
It said the present 6/52, which
also has a minimum guaranteed up-
banks remains adversely affected by the pro- bound have recently emerged, the unprecedented Australia doing better than
tracted economic crisis and ongoing domestic nature of the financial crisis raises questions over
front jackpot of RM2 million, is very political instability, the report highlighted. the certainty of a swift recovery.
average
successful and has created several It also indicated that the presence of high credit Another significant uncertainty, Moody’s said, MELBOURNE: Australia is doing better than most other
mega jackpots since its launch in risk concentrations in some sectors, heightens is whether the recent surge in wealth across Asia economies during the worst global recession in 75 years,
2007. their risk profiles, making losses and writedown can generate sufficient levels of consumption to Prime Minister Kevin Rudd said.
“Hence, 6/55, which has a requirements more unpredictable. compensate for lower demand from the US and He said two international reports released today
larger matrix and higher minimum In Indonesia, over the next 12 months, banks other developed economies which are traditionally showed that the government’s “early and decisive action”
guaranteed upfront jackpot, is ex- will face increasing pressure – particularly from significant buyers of goods from the continent. had helped cushion the Australian economy from the
pected to create even bigger jackpots asset quality – although they will fare relatively Moody’s said that it was also important to note worst impact of the global recession.
surpassing those created by 6/52,” better as the economy slows, rather than con- the significant steps taken since the Asian financial The International Monetary Fund (IMF) and the
it said. tracts, it said. crisis and the fact that standards for accounting, Organisation for Economic Co-operation and Development
Sports Toto offers six different Rapid loan growth, averaging 20% annually over transparency, governance, risk management and (OECD) both released reports on Australia yesterday.
games comprising three digit-type the past five years, could further be a potential regulation have all improved markedly throughout The IMF has upgraded its Australian growth forecast to
games namely, 4D, 5D and 6D and source of higher credit costs. These newly under- the region. a 0.5% contraction for 2009 and 1.5% expansion in 2010.
three lotto-type games namely, 6/42, written loans will test upgraded risk management The full report, “Asia Banking Outlook 2009”, Previously, the IMF had forecast growth declining 1.4%
6/49 and 6/52. – Bernama systems. can be found at www.moodys.com. – Bernama this year and increasing 0.6% next year. – Bernama