32 œ theSun | TUESDAY JANUARY 6 2009

business

S&P/ASX200
Hang Seng 3,687.0 TSEC KLCI STI KOSPI Nikkei
market summary 15,563.31 -26.80 4,698.31 920.66 1,924.87 1,173.57 9,043.12
JANUARY 5, 2008 520.50 107.09 26.30 95.16 16.17 183.56
INDICES CHANGE

AmStaples launched for

FBMEMAS 6,039.88 +182.50
COMPOSITE 920.66 +26.30
INDUSTRIAL 2,140.63 +51.84
CONSUMER PROD 287.45 +4.35
INDUSTRIAL PROD 69.11 +1.22)
CONSTRUCTION 173.72 +5.08
TRADING/SERVICES 122.69 +3.16
FINANCE 7,070.90 +145.69

investment in food staples

PROPERTIES 542.65 +16.81
PLANTATIONS 4,776.03 +352.29
MINING 243.17 +6.08
FBMSHA 6,326.52 +229.09
FBM2BRD 4,081.92 +49.79
TECHNOLOGY 14.12 +0.24
TURNOVER VALUE
by Syarifah Syazana
845.963mil RM1.019bil newsdesk@thesundaily.com

KUALA LUMPUR: AmInvest-

CI surges 3% ment Bank Group yesterday
launched AmStaples, which
SHARE prices on Bursa Malaysia were firmer is AmMutual’s latest Syariah-
at close yesterday on follow through buying in based structured product fund
selected heavyweights, particularly plantation that allows investors to par-
stocks, dealers said. ticipate in a strategy related to
The KLCI ended 26.30 points or 2.941% higher food staples.
at 920.66, the highest since the market went on This strategy is
a downtrend last year, pushed by gains mostly in The outlook linked to the perform-
IOI Corporation and Sime Darby. It opened 7.84
points higher at 901.84.
of the global ance of four underlying
assets, including food
The Industrial Index went up 51.84 points food and commodities such as
to 2,140.63, the Finance Index surged 145.69 agribusiness corn and soybean,
points to 7,070.90 and the Plantation Index industry and equities of global
jumped 352.29 points to 4,776.03. remains major food companies
The FBMEmas was 182.50 points higher like Kraft Foods Inc From left: AmInvestment
at 6,039.88, the FBM30 rose 167.30 points to positive, and Nestle SA. Bank Group Funds
5,931.19, the FBMMesdaq increased 142.62 driven by The fund is denom- Management Division
points to 3,489.48 and the higher inated in ringgit (RM) Retail Funds director
FBM2BRD surged 49.79 points to 4,081.92. Ng Chze How, Maznah
demand for and will invest 95%
and the division’s Asian
Gainers thumped losers by 530 to 119 while 131 of its net asset value
counters were unchanged, 472 untraded and 27
food from (NAV) in 33-month Fixed Income head Julian
others suspended. the growing tenured certificates Chow at the launch of
Dealers said tension between Israel and world denominated in Aus- AmStaples yesterday.
Palestine has resulted in higher crude oil prices, population.” tralian dollars (A$),
which have also caused crude palm oil prices which upon maturity potential appreciation of A$ Maznah Mahbob said. in food staples investment, has
to shoot up. They said some investors saw this will reach 100% of the notional against RM increases the “Food staples invest- an authorised fund size of 100
as an opportunity to buy plantation stocks and amount. performance of the fund as ment is one of the potential million units and is offered
the trend is expected to continue until Chinese The fund will also invest the amount received will be investment opportunities for to the public at RM1 per unit
New Year. up to 5% in cash and other converted to RM. investors during recessionary during the offer period from
Among top gainers, Tanjong gained 70 sen to Syariah-compliant authorised “The outlook of the global times. The investment in food now until Jan 30, with the
RM14.20, IOI Corporation rose 48 sen to RM4.38 investments. food and agribusiness indus- commodities and equities of minimum and additional in-
and Asiatic increased 46 sen to RM4.26. The certificates, arranged try remains positive, driven by global major food companies vestment amount at RM5,000.
Among actives, KNM added 4.5 sen to 48 sen, by Citigroup Global Markets higher demand for food from offers potential growth to The fund is also sold across
Ramunia Holdings edged up 3.5 sen to 34.5 sen Ltd, which aim to comply the growing world population. investments, with such assets different distribution channels
and Malaysian Resources Corporation increased with Syariah principles, are The use of crops for biofuels expected to remain resilient namely AmBank branches,
6.5 sen to 81.5 sen. scheduled to pay the fund a is also a contributing factor. in recessionary periods. Thus, AmBank Wealth Manage-
As for heavyweights, Sime Darby rose 30 sen contractual fixed income dis- Therefore, demand for staple AmStaples is designed to tap ment, AmPrivate Banking
to RM5.70 while Tenaga Nasional and Bumipu- tribution and, if any, potential food, a basic household neces- the potential of food staples and authorised Institutional
tra-Commerce added 15 sen each to RM6.40 additional income in A$. sity, is unlikely to reduce de- investment,” Maznah added. Unit Trust Advisers (IUTAs)
and RM6.35 respectively. The income distributions spite unfavourable economic The fund, suitable for including RHB Islamic Bank,
Maybank increased 20 sen to RM5.40, MISC and 100% of the notional conditions,” AmInvestment investors seeking to benefit CIMB Private Banking, Citi-
edged up five sen to RM8.65 while Public Bank amount are subject to cur- Bank Group Funds Manage- from contractual fixed income bank, EON Bank and Philip
eased 10 sen to RM8.80. – Bernama rency movements, making ment Division CEO Datin distribution and participating Mutual.

briefs
Jobs still available despite
global slowdown
KUALA LUMPUR: Jobs are still available in the
financial services industry despite the global
economic slowdown, says the Institute of Bank-
ers Malaysia (IBBM) chief executive officer Dr
Mohd Kamal Khir. He said more banks were
opening new branches and this would create
job opportunities in the sector.
As of last year, there were about 3,000 jobs
available in the financial services industry in the
country, he told reporters after a briefing for new
participants of the Financial Sector Talent Enrich-
ment Programme (FSTEP) here yesterday.
He said there was also demand in the
financial sector, especially in Islamicfinance, in
overseas markets such as Hongkong, Singapore
and the Middle East.
On the FSTEP programme, Mohd Kamal said
it was driven by the financial services industry
with the objective of training and preparing
highly qualified graduates for employment in
financial services institutions. – Bernama
Tan Chong Motor expects
to maintain sales
PETALING JAYA: Edaran Tan Chong Motor
Sdn Bhd, the sales and marketing arm of
Nissan vehicles in Malaysia, expects sales
this year to be sustained at 28,000 units,
the same as last year.
Its executive director Datuk Dr Ang Bon
Beng said despite the economic slowdown,
the strong Nissan consumer branding and
quality will continue to maintain its share of
5.2% in the Malaysian vehicle market.
“We are confident of strong support for
our future launches this year. The economic
outlook will not deter us from achieving our
target,” he said during the launch of the
new Nissan Grand Livina Tuned by Japan’s
Impul Motor Racing Development.
Today’s launch at the Nissan showroom
in Petaling Jaya marked the world debut
of the only Grand Livina to be tuned by
Impul, a well-known Japanese motorsports
specialist and Nissan tuning expert.
The core activities of Impul, founded by
motorsports expert Kazuyoshi Hoshino,
include integrated, planning and develop-
ment of car parts and accessories.
Priced from RM95,586 to RM108,086, the
model tuned by the Impul version is fitted
with enhanced features to provide better
handling and engine response as well as a
more aesthetic look. – Bernama
Public Mutual announces
income for three funds
KUALA LUMPUR: Public Bank’s wholly-owned
subsidiary, Public Mutual, has declared a total
gross distribution of 7.50 sen for its Public Sav-
ings Fund for the financial year ended Dec 31,
2008.
It also declared an income of 1.25 sen for
the Public Focus Select Fund and 1.75 sen for
the Public Islamic Enhanced Bond Fund.
In a statement yesterday, Public Mutual
chairman Tan Sri Dr Teh Hong Piow said the
Public Savings Fund was aimed at achieving
long-term capital appreciation while at the
same time producing a reasonable level of
income. – Bernama
Sime LCCT project gets
govt nod
KUALA LUMPUR: Sime Darby Bhd has ob-
tained government approval to develop
a private low-cost carrier terminal (LCCT)
project in Negri Sembilan.
In a statement to Bursa Malaysia yes-
terday, Sime said the project is an integral
part of the development plan for its Negri
Sembilan Vision City (NSVC).
Sime said the NSVC was part of its Central
Vision Valley property development project
spanning Selangor and Negri Sembilan.
On Dec 23, 2008 Sime announced that
it and AirAsia Bhd had jointly expressed an
interest to the government to develop and
operate the LCCT project on its land in Negri
Sembilan.
Sime said the project was in the initial
planning phase as both parties were en-
gaged in preliminary discussions with state
and federal authorities. – Bernama