Journey of My Life

Friday, 4 April 2014

All negatives priced in for REITs

Source: The Edge Financial Daily

Thursday, 3 April 2014

Pharmaniaga ties up with Saudi firm to build RM120mil factory in Riyadh

PETALING JAYA: Pharmaniaga Bhd is teaming up with Modern Group, one of the largest companies in Saudi Arabia, to build a RM120mil manufacturing plant in Riyadh.

Pharmaniaga chairman Tan Sri Lodin Wok Kamaruddin said the 50:50 joint venture was part of the company’s strategy to accelerate the growth of its pharmaceutical business and to capture the rapidly growing opportunities in Saudi Arabia.

Lodin said besides its plants in Saudi Arabia and Indonesia, which it acquired last year, the generic drug maker also aimed to penetrate other Asean countries such as Myanmar, Vietnam, the Philippines and Thailand.

“At the same time, we are looking at enhancing our retail pharmacy outlets.

“At present, we have one in Shah Alam under the Royale Pharma brand.

“We are now working closely with several organisations and companies to see if we can establish more outlets in the country,” he told a media briefing after Pharmaniaga’s annual general meeting here yesterday.

He added that Pharmaniaga’s parent company, Boustead group, owned and operated more than 300 petrol kiosks nationwide and soon all these locations would be selling the Royale Pharma products.

Pharmaniaga reported a lower pre-tax profit of RM93mil for the year ended Dec 31, 2013, down 10% from RM103mil previously.

However, its revenue rose to RM1.9bil from RM1.8bil a year ago.

This was attributable to strong contributions from the group’s non-concession business and organic growth in the concession business as well as new tenders that it secured. — Bernama

Source: http ://www.thestar.com.my /Business/Business-News/2014/04/03/Pharmaniaga -ties-up-with-Saudi-firm-Joint-venture-to-build-RM120mil-factory-in-Riyadh/

Wednesday, 2 April 2014

AirAsia CEO appeals for PM's intervention in klia2 issue

KUALA LUMPUR: AirAsia Bhd is appealing for Datuk Seri Najib Tun Razak to intervene in resolving the klia2 issue as it wants to be given a voice since it will be the main user of the terminal.

The low-cost carrier's CEO Aireen Omar said on Wednesday the Prime Minister's intervention was crucial in resolving this national issue.

She pointed out the airline was ready and committed to make the best out of klia2 "although it is not the design we wanted."

The klia2, she added, was longer a fully low-cost carrier terminal as initially promised by Malaysia Airports Holding Bhd (MAHB).

Aireen was clarifying news reports over AirAsia's decision to remain in the current low-cost carrier terminal after May 9, 2014.

She said while AirAsia was more than ready to move to klia2 but the shift must be done under the right circumstances.

"We will be the anchor tenant at the new airport, accounting for more than 80% of klia2's traffic, hence the critical need for klia2 to be fully functional and operationally viable in the long term," she said.

She said the articles could have given rise to a perception that AirAsia was not deliberately moving to klia2 or being difficult on purpose.

However, she assured this was not its intention as there were many concerns especially functionality, safety and security of klia2.

"Klia2 has the potential to be a global aviation hub, just like Dubai. AirAsia, as the largest low cost carrier in the region can and will contribute towards making that a reality, directly elevating the nation's aviation industry as a whole.

"As a major contributor to Malaysia's economy, AirAsia must be given a voice as we are the main user of klia2. AirAsia looks forward to resolve this issue as soon as possible," Aireen added.

http ://www.thestar.com.my /Business/Business-News/2014/04/02/AirAsia-CEO-wants-PM-to-intervene-in-klia2 -issue

AirAsia inks entertainment deal worth RM109m