Thesun 2009-07-22 Page12 Bnm Probes Two Firms

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theSun

| WEDNESDAY JULY 22 2009

business

KUALA LUMPUR: Bank Negara Malaysia has commenced investigations into two companies, Genneva Sdn Bhd and Etika Emas Estet Sdn Bhd. The companies are being investigated on suspicion of conducting illegal deposit taking activities in breach of subsection 25(1) of the Banking and Financial Institutions Act 1989 (Bafia). The raids on the Klang Valley-based Genneva Sdn Bhd and Etika Emas Estet Sdn Bhd were conducted yesterday, following information received from members of the public, the central bank said in a statement here. Bank Negara said members of the public are reminded to be cautious of deposit and investment schemes, offered through various channels such as the internet, phone calls, or seminars, conducted by individuals or companies that are not licensed or approved by the relevant authorities. Members of the public may refer to the list of licensed institutions authorised to accept deposits, available on Bank Negara’s website, www.bnm.gov.my. Members of the public may also contact Bank Negara at BNMTELELINK (Customer Service Call Centre) at 1-300-88-5465, Fax: 0321741515 or e-mail: [email protected], for further enquiries. – Bernama

Splash accepts Selangor govt offer KUALA LUMPUR: Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) has accepted the offer from Selangor state government (SSG) to purchase its water-related assets and operations for an estimated RM2.975 billion. The announcement was made by Gamuda Bhd, which has an indirect 40% stake in Splash. In a statement yesterday, Gamuda said the acceptance is also conditional upon approvals from the relevant authorities or any other consents required to complete the transaction. It is also subject to execution of all necessary legal documents including a supplemental agreement between Sungai Harmoni Sdn Bhd and/or Gamuda Water Sdn Bhd and Splash/ SSG/SSG’s nominee to incorporate necessary amendments to the respective operations and maintenance agreements. The settlement of the offer price will be on a lump sum cash basis within an agreed timeframe, Gamuda said. The transaction will be accomplished via a sale of shares of Syarikat Pengeluar Air Selangor Holdings Bhd, Splash’s holding company, to SSG or its nominee as opposed to a sale of assets to facilitate a less complicated consolidation of operations in the Selangor water industry. – Bernama

BERNAMAPIX

BNM probes two firms

Home Minister Datuk Seri Hishammuddin Hussein with (from left) Deputy Inspector-General of Police Tan Sri Ismail Omar, Ahmad Zubir and Sime Darby Property managing director Datuk Tunku Putra Badlishah Tunku Annuar at the launch of the “safe city” project.

Sime looking at 100sq km development in China PETALING JAYA: Malaysian conglomerate Sime Darby Bhd is sending a team to China to conduct further study on its proposed participation in the 700sq km economic development zone (EDZ) near Weifang city. “The initial size that we are looking at is about 100sq km but the gross development value we don’t know yet,” said its president and group chief executive Datuk Seri Ahmad Zubir Murshid yesterday. “We are actually going to do more study on the Weifang Industrial Park and we will sent a team there. We have to look into what other things that we can develop,” he told reporters on the sidelines of the official launch of Sime Darby Property’s “safe city” project at Ara Damansara township here. Last month, the company told Bursa Malaysia that it was in discussions with the Weifang People’s Government regarding the planning and development of EDZ, and the focus was on enhancing the Malaysia-China economic cooperation. Prime Minister Datuk Seri Najib Razak, during his official visit to China, had an-

briefs RAM reaffirms enhanced ratings of Maxis’ debt facilities KUALA LUMPUR: RAM Ratings has reaffirmed the AAA(bg)/P1(bg) ratings of Maxis Communications Bhd’s RM500 million commercial papers/mediumterm notes programme. The AAA(bg) rating of the company’s RM500 million medium-term notes programme has also been reaffirmed, said RAM Ratings in a statement yesterday. The long-term ratings have a stable outlook, it said. The enhanced ratings of Maxis’ debt securities are based on an unconditional and irrevocable guarantee from DBS Bank Limited and Malayan Banking Berhad (Maybank), the rating agency said. RAM Ratings reaffirmed the AAA (stable outlook)/P1 ratings of both DBS Bank and Maybank in March 2009. Maxis is mainly involved in the wireless telecommunication industries in Malaysia, India and Indonesia. – Bernama

Unicorn expects to triple its profit this year KUALA LUMPUR: Unicorn International Islamic Bank Malaysia Bhd (Unicorn) this year expects to triple the RM812,546 maiden profit it recorded last year, said chairman Datuk Vaseehar Hassan Abdul Razak. He said investment and corporate banking would be the main drivers of growth for the Islamic bank which started operations last year. “Last year, we made a very small profit.

nounced that the conglomerate had been offered a multi-billion dollar development project in Weifang. Sime Darby’s involvement could be one of the biggest venture ever undertaken by a foreign company in China. “Among others, Sime Darby will assist the Weifang government in identifying suitable Malaysian companies to invest in this EDZ,” the company had said in its Bursa filing. Zubir said the project’s masterplan would take several months to be ready. Meanwhile on the company’s financial performance, he said Sime Darby is confident of achieving its target but the figures would not be as high as last year’s. “But InsyaAllah it will be within our expectations. Although crude palm oil prices have gone down, it would be offset by other divisions,” he said. Sime Darby is expected to release its full financial year results by next month. For the year ended June 30, 2008, it recorded a pretax profit of RM5.206 billion compared with RM3.572 billion previously. – Bernama

This year, probably we will do three times (more) than last year,” he said after signing an agreement with Bank Rakyat and Puncakdana Sdn Bhd yesterday. As the first foreign Islamic bank licensed to conduct a full range of non-ringgit banking facilities, he said Unicorn aimed to record transactions worth US$200 million to US$300 million this year. Today, the bank inked its first transaction jointly with Bank Kerjasama Rakyat Malaysia (Bank Rakyat) to arrange a RM101 million club deal Islamic financing for Puncakdana Sdn Bhd. – Bernama

Proton sees slight improvement in sales SHAH ALAM: National car maker Proton Holdings Bhd has recorded slight improvement in sales in the first half of this year boosted by its newly launched multi purpose vehicle (MPV), Exora. Speaking to reporters here, its managing director Datuk Syed Zainal Abidin Syed Mohamed said besides Exora, easier financing from financial institutions and the scrap programme introduced by the government supported the improvement. Bookings for the MPV so far stands at 15,767 units, while 6,200 units have already been sold since it was launched in February this year. Proton is aiming to sell about 27,000 Exora units locally by end of this year. However, Syed Zainal said the second half of the year would remain challenging due to the slower economic environment. Nevertheless, sales of all Proton models including Exora are expected to increase during the festive season including during Hari Raya. – Bernama