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16 theSun | TUESDAY JUNE 30 2009

business

Bank Pembangunan posts record high net profit of RM1.07bil
KUALA LUMPUR: Bank Pembangunan several proactive measures to further it said. as at end-2008 continued to be one of ratio to 0.8% as at Dec 31, 2008
Malaysia Bhd’s net profit has surpassed strengthen asset quality. The bank said net interest income the strongest in the industry whereby despite the reduction in loan portfolio
the RM1 billion mark for the first time “Among them are annual review rose by RM236 million from RM441.4 the shareholders’ fund had increased by 2.7%.
in its 35-year history. and new classification of ‘watch list’ to million in 2007 to RM677.3 million last by another RM965.3 million in 2008 It said quality of assets continued
In a statement here yesterday, ensure proper pre-emptive measures year. resulting in the risk-weighted capital to improve given the decline in the
the bank the RM1.070 billion net are taken on such loan accounts. “Concurrently, the non-interest ratio to stand at 28.3% as against the amount of NPLs by RM205.6 million.
profit was largely due to the increase in “In addition, the screening process income increased from RM134.5 banking system average of 12.7%. It said the bank would continue to
both operational and non-operational of new applications was enhanced to million in 2007 to RM510.6 million in Bank Pembangunan said enhanced strive to improve its effectiveness in
income, lower expenses as well as weed out unproductive and non-viable 2008, arising from the divestment of credit management has a positive supporting the nation’s developmental
reduction in loan loss provisions. applications resulting in considerable SME Bank,” it said. impact as evidenced by its ability to programme and ensuring its sustain-
The bank said it has implemented reduction in loan approvals in 2008,” It said the bank’s capital position reduce its non-performing loan (NPL) ability over the long-term. – Bernama

Vita Cat to Rais (second

TM in talks with 13 firms
from right), Raja

expand to Nong Chik (third
from left), Mohd

Mid-East Radzi (fourth
from left) and
Zamzamzairani
KUALA LUMPUR: Edaran Vita (third from

on broadband services
Cat Sdn Bhd, a halal cat food right) press the
producer, plans to expand symbolic panel
its market in the Middle East to mark the
after making inroads in Dubai commencement
recently. of the project.
Its head of business
development, Halim Baba,

BERNAMAPIX
said the company proposed KUALA LUMPUR: Telekom Malaysia Bhd
to take part in trade mis- (TM) is in discussions with 13 potential com-
sions organised by Malaysia panies for its high-speed broadband (HSBB)
External Trade Development wholesale services.
Corporation (Matrade) end of TM group chief executive officer Datuk
this year to seek new markets Zamzamzairani Mohd Isa said the HSBB
in the Middle East.
When it wholesale service was made available from
Besides Dubai, Vita Cat is pays to last month and negotiations were ongoing
also exporting its products to follow with access-seekers on a one-to-one basis.
Brunei, he told Bernama on TM’s wholesale offerings comprise three
the sidelines of the Buy Ma-
rules services – HSBB (transmission), HSBB (ac-
laysian Products Expo here pg 18 cess) and HSBB (connection) services.
recently. Zamzamzairani said the companies con-
Established in April last cerned included those involved in providing
year, the company is currently WiMAX (Worldwide Interoperability for
exporting 15,000kg of food to Microwave Access), content providers and
Dubai and 8,000kg to Brunei mobile and telecom players.
each month. “For the wholesale service, we have to
For the domestic market, engage and understand their business re-
the company’s products can quirements. The service delivered to them
be found at hypermarkets is customised and peculiar to their needs.
and supermarkets like Giant, It takes time to do this,” he told reporters
Carrefour, Mydin and Jusco. after the launch of physical work for HSBB
“Our products entered all access infrastructure in Taman Tun Dr Ismail
the hypermarkets recently yesterday.
and demand has been en- Information, Communications and Culture
couraging,” Halim said, adding Minister Datuk Seri Utama Dr Rais Yatim
that one of the hypermarkets launched the ceremony to mark the com-
was able to record sales up to mencement of the work.
RM12,000 monthly. Also present were Federal Territories
“Previously our products Minister Datuk Raja Nong Chik Raja Zainal
were available only in the Abidin and TM chairman Tan Sri Md Radzi
north, and we supplied to vet- Mansor.
erinary authorities in Kangar in Zamzamzairani said TM has commenced
Perlis, and Kulim and Alor Setar physical work for the laying of HSBB access
in Kedah,” he said. – Bernama infrastructure in 22 exchange areas around
the country that would be covered by the
initial roll-out of the services.
He said the roll-out in Taman Tun Dr on Sept 16 last year, TM would invest RM8.9 broadband for general population delivers at
Ismail, Bangsar, Subang Jaya and Shah Alam billion of its own money over 10 years to network speeds of 384Kbps (kilobit/second) to
was expected to be completed by year-end. finance the HSBB network infrastructure roll- four Mbps,” he said.
“Fibre access work related to the coming out, while the government was co-investing Zamzamzairani said HSBB roll-out would
HSBB network is now in full swing,” he said. RM2.4 billion, making up the total of RM11.3 be focused on Zone One, a high economic
Zamzamzairani said TM was also targeting billion. impact areas, namely, Inner Klang Valley,
HSBB retail service commercial roll-out for “A total of approximately 1.3 million Iskandar Malaysia and key industrial zones
consumers and businesses in the first quarter premises nationwide will have access to throughout the country.
of next year. HSBB by 2012. “The HSBB is expected to contribute 0.6%
He said under the Public Private Partner- “HSBB offers bandwidth at network speeds to gross domestic product and create 100,000
ship agreement with the government, signed of 10 megabits/second (Mbps) and above while jobs by 2017,” he said. – Bernama

Handal Resources to expand business regionally
KUALA LUMPUR: Handal Re- Indonesia. four million shares for directors, under the government’s stimulus
sources Bhd, an integrated offshore Besides organic growth, employees and persons contribut- package will have a positive im-
crane service and manufacturing the group is also exploring the ing to the group’s success, and 8.5 pact on the economy, and also in
provider in the oil and gas indus- prospects of expansion through million shares allocated through the group’s fundamentals.
try, will utilise the bulk of proceeds acquisitions, joint ventures and private placement to identified “We want to be ready when the
from its initial public offering (IPO) strategic alliances in the oil and investors. economy recovers,” he added.
for business expansion in East gas industry to complement its There will also be an offer for Handal is one of only two
Malaysia and regionally. current and future businesses. sale of six million shares to identi- American Petroleum Institute-
The group is looking to expand Handal expects to raise fied investors. licensed companies operating
into East Malaysia first, setting up RM13.32 million from the public The IPO involves the public in Malaysia that manufactures
base in either Labuan or Miri or issue of 18.5 million shares priced issue of 18.5 million shares at an offshore pedestal cranes and the
both locations, executive chair- at 72 sen each. issue price of 72 sen each, and only company to provide fully
man Datuk Mohsin Abdul Halim From the amount, RM8.5 mil- also an offer for sale of six million integrated offshore crane services
said at a press conference after lion will be for business expansion shares. in the oil and gas industry.
the launch of Handal’s prospectus within two years of listing, RM3.42 Mohsin is confident the IPO For its financial year ended Dec
yesterday. million for working capital and will be well received and oversub- 31, 2008, Handal posted a profit
He said Handal was already RM1.4 million for estimated listing scribed despite the current cau- of RM9.247 million on revenue
selling cranes to Sarawak Shell expenses. tious sentiment among investors. of RM60.577 million, up from
while the possible targets in its Under the public issue, six According to him, Handal RM8.712 million on revenue of
regional expansion included million shares are allocated for chose to go listing now is because RM55.595 million in the previous
Vietnam, Thailand, Brunei and application by Malaysian public, it is confident that the incentives year. – Bernama