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theSun
| TUESDAY JULY 28 2009
business
Qualitas set to be key regional player KUALA LUMPUR: Qualitas Medical Group Ltd is set to become the leading regional healthcare services group through its recent acquisitions of clinics and dental centres in India and New Zealand. “It is our vision to grow the group into a leading regional healthcare group,” said Qualitas founder, chairman and managing director Datuk Dr Noorul Ameen Mohamed Ishack. “Since our listing in September 2008, we have been working on scaling up our Malaysian operations and pursuing growth opportunities in the region,” he said in a statement yesterday. Qualitas announced on June 30, 2009, that it had completed the acquisition of 48% stake in Peak Primary Ltd (PPL), a New Zealand primary healthcare chain, for NZ$2.5 million (about RM5.2 million). Separately, it also announced that it has acquired a 40% stake in V.V. Dentistree India Private Limited, a specialised dental care chain in South India, for 20 million Indian rupees (about RM1.48
million). These acquisitions will add three primary healthcare clinics in New Zealand and five dental centres in Chennai, South India, to the group’s regional network. In addition to its Malaysian operations, the group currently has a clinic with diagnostic facilities in India and three affiliate clinics in Cambodia. According to Noorul Ameen, the acquisition of a strategic stake in PPL will enable Qualitas to enter New Zealand, a new market, and gain a foothold in the Australasia region. “In India, our strategic stake in Dentistree not only strengthens our existing presence but also marks our foray into the field of dentistry, which complements our existing diagnostic services,” he said. He said despite the challenging economic environment, Qualitas was confident that the demand for essential primary healthcare services in the region remained resilient. “We will continue to focus on exploring growth opportunities both in Malaysia and in the region.
Ultimately, we aim to replicate the successful ‘Qualitas’ brand name and business model in the region,” he said. Noorul Ameen said that rising income levels and increased awareness of the need for dental care has led to substantial demand for dental care services in India. The changing patterns of oral diseases have also led to greater need for proper dental care services, which are now made affordable by technology, he said. “As such, we are optimistic that our investment in Dentistree is a timely and strategic move,” he added. The investments in PPL and Dentistree will be funded by proceeds from the group’s initial public offering in 2008. Established in 1997, Qualitas operates through a large network of clinics, predominantly in Malaysia and recently in the Asia Pacific region. The group has one of the largest networks of clinics in Malaysia, with 160 clinics operating under its ‘Qualitas’ brand name across the country. – Bernama
MUNYONYO (Uganda): The Global Smart Partnership International Dialogue which Malaysia initiated in 1997 has helped African countries embrace a new era of economic growth and development through shared ideas and experiences, former prime minister Tun Dr Mahathir Mohamad said. For instance, the Uganda government took a bold move to promote the country as a “destination of choice” for tourists around the globe following discussions during the dialogue last hosted by Kampala in 2001. This resulted in the development of a world-class tourism infrastructure as could be seen in Munyonyo near Kampala, the capital of Uganda, he said here on Sunday. The Speke resort in Munyonyo is a luxurious resort located on the shores of Lake Victoria, located some 12km from Kampala. “The development of Speke Resort in Munyonyo is one of the end products of our discussion during the Smart Partnership
BERNAMAPIX
Smart Partnership Dialogue helps Africa embrace economic growth
Mahathir speaks at a press conference in Munyonyo yesterday.
International Dialogue hosted by Uganda in 2001,” he said when asked to comment on the level of success achieved through the dialogue so far. He cited how African countries, taking Malaysia as a role model, adopted Kuala Lumpur’s “secret of
success” in Southeast Asia to help develop their economies in various fields which brings hope to millions of people in the continent. “This is a learning process for them and at the same time we also learned about their problems and try to help find solutions,” he said. Mahathir is here to attend the 19th Global Smart Partnership Dialogue, of which he is a founding member and which Uganda is hosting for the second time after the first in 2001. Deputy Prime Minister Tan Sri Muhyiddin Yassin is leading Malaysia’s delegation to the dialogue which had its roots in the Langkawi International Dialogue in 1995 and which has since spawned similar dialogues in Southern Africa. Mahathir said he places high importance on the dialogue as it helps identify problems and limitations that might restrain the implementation of planned development programmes, particularly in Africa. – Bernama
UOB eyes RM350m from new insurance product KUALA LUMPUR: United Overseas Bank Bhd (UOB) expects to reap RM350 million premium within the next two years from its new insurance product, Gain Assure II which guarantees a minimum income bonus of 3.5% annually. UOB senior head of personal financial services, Tay Han Chong, said the bank was confident of securing RM50 million in premium in the next few weeks following its launch here yesterday. “We foresee that this product
will be well received by customers in view of the guaranteed minimum 3.5% income bonus on the single premium invested,” he told reporters after the launch. The Gain Assure II, aimed at customers who prefer low risk investment while enjoying insurance protection, offers them the option of premium payments ranging from RM5,000 to RM500,000. It is open to investors from 14-days old to 60 years. The insurance is offered in collaboration with Uni.Asia Life
Assurance Bhd. Meanwhile, Uni.Asia Life Assurance chief executive officer, Ooi Say Teng, said its Bancassurance division has contributed significantly towards the growth of its new business sales production. He said the division stood at number two out of 16 life insurance companies last year with a market share of 24% for new business regular premium. “We are aiming to be number one in the first half of this year,” he said. – Bernama
Handal Resources to raise RM13m from listing
Redknapp, Zola look for early season edge in China pg 31
KUALA LUMPUR: Handal Resources Bhd, an integrated offshore crane service and manufacturing provider in the oil and gas industry, expects to raise gross proceeds of RM13.32 million from its listing exercise. In a statement yesterday, the company said that bulk of the proceeds will be used for business expansion, mainly in East Malaysia and neighbouring Southeast Asian countries. The company said it may also expand its business reach to other countries, such as those on the African continent should business opportunities arise in the future. Handal Resources is scheduled to be listed on the Second Board of Bursa Malaysia on Thursday. Besides organic growth, the company is also exploring the prospects of expansion through acquisitions, joint ventures and strategic alliances in the oil and gas industry that will complement the current and future businesses. Handal Resources is one of two American Petroleum Institute licensed companies operating in Malaysia that manufactures offshore pedestal cranes. It is the only company in the country to provide fully integrated offshore crane services in the oil and gas industry. To date, Handal Resources stands out with zero defects on 15 new cranes delivered and zero warranty call-outs on 60 cranes reconditioned. The company said it has also invested in 14 API 2C offshore pedestal cranes for the crane rental business. Its manufacturing operations are currently located on a 1.2ha yard in the Kemaman Supply Base and the group has acquired a 4ha yard located at the Teluk Kalong Industrial Area nearby. The new yard has just come onstream, with the capacity to manufacture, service, maintain and overhaul an average of 30 offshore cranes per year as compared to the current plant’s capacity of 12 cranes per year. – Bernama
briefs Goldis Water secures RM13.8m job in China KUALA LUMPUR: Goldis Water Pte Ltd, a wholly-owned subsidiary of Goldis Bhd, has clinched a RM13.8 million wastewater treatment plant concession in China. Goldis Water will operate the 25-year concession through Zoucheng Xincheng Waste Water Co Ltd. The concession includes the building, financing and maintenance of the treatment plant at the Zou Cheng Industrial Park. Zoucheng Xincheng Waste Water director Lee Choon Kok said construction of the project would start next month. – Bernama
MAS bargains on North Asian destinations KUALA LUMPUR: Malaysia Airlines (MAS) is offering bargains for destinations to North Asia under its “Get-the-Deal”, with RM300 for a one-way ticket to Taipei and RM440 to Kaohsiung. The bargains from the national carrier include a ticket priced at RM697 to Osaka, RM713 to Tokyo and RM740 to Seoul. MAS senior general manager, network and revenue management, Dr Amin Khan, said to enjoy the offers, customers only needed to register at the “Get-the-Deal” section at the airline’s website, www. malaysiaairlines.com. “Since the “Get-the-Deal” was launched a couple of months ago, we have sold some RM50 million worth of tickets,” he said in a statement yesterday. MAS flies to 13 times weekly to Taipei, 11 times to Tokyo, six times to Osaka and Seoul, and five times to Kaohsiung. – Bernama
More AirAsia flights to Tricy KUALA LUMPUR: AirAsia Bhd will increase its highly popular KL-Tiruchirappalli (Tricy) route, to two direct daily flights from Sept 1. In a statement yesterday, the carrier said to celebrate the introduction of the second KL-Tricy frequency, it is offering
an all-in-fare from RM129. The booking period for the second frequency will be from July 28 - Aug 2 for the travel period of Sept 1 - April 30. – Bernama
TM names new chairman KUALA LUMPUR: Telekom Malaysia Bhd (TM) has appointed Datuk Dr Halim Shafie (pic)as its new chairman effective July 31, succeeding Tan Sri Muhammad Radzi Mansor. Muhammad Radzi completed the fifth term of his tenure as chairman of the TM board after having served for 10 years since his appointment in 1999. In filing to Bursa Malaysia yesterday, TM said that Halim is no stranger to TM and the industry, having served as chairman of the Malaysian Communications and Multimedia Commission (MCMC) from 2006 to 2009. Halim has also served on the TM board, first as an alternate director from 1999 until 2000 and thereafter as a substantive director until 2004. – Bernama
Staedtler to close Temerloh plant KUALA LUMPUR: Staedtler, the German-based writing instrument company, will close its manufacturing plant in Temerloh by the end of April next year as part of its plans to consolidate its global production plants. Its Malaysian sales, marketing, finance, administration and warehousing will be retained locally and the company will continue to ensure its customers’ expectations of high quality and service are met, the company said in a statement yesterday. It said as a result of this consolidation, its manufacturing will be concentrated at fewer production plants. “The closure is in no way a reflection on the company’s employees or on its performance in Malaysia,” Staedtler Malaysia Berhad CEO Mandout Assim said. He said the plant closure will result in the loss of about 200 jobs.
theSun
| TUESDAY JULY 28 2009
business
Qualitas set to be key regional player KUALA LUMPUR: Qualitas Medical Group Ltd is set to become the leading regional healthcare services group through its recent acquisitions of clinics and dental centres in India and New Zealand. “It is our vision to grow the group into a leading regional healthcare group,” said Qualitas founder, chairman and managing director Datuk Dr Noorul Ameen Mohamed Ishack. “Since our listing in September 2008, we have been working on scaling up our Malaysian operations and pursuing growth opportunities in the region,” he said in a statement yesterday. Qualitas announced on June 30, 2009, that it had completed the acquisition of 48% stake in Peak Primary Ltd (PPL), a New Zealand primary healthcare chain, for NZ$2.5 million (about RM5.2 million). Separately, it also announced that it has acquired a 40% stake in V.V. Dentistree India Private Limited, a specialised dental care chain in South India, for 20 million Indian rupees (about RM1.48
million). These acquisitions will add three primary healthcare clinics in New Zealand and five dental centres in Chennai, South India, to the group’s regional network. In addition to its Malaysian operations, the group currently has a clinic with diagnostic facilities in India and three affiliate clinics in Cambodia. According to Noorul Ameen, the acquisition of a strategic stake in PPL will enable Qualitas to enter New Zealand, a new market, and gain a foothold in the Australasia region. “In India, our strategic stake in Dentistree not only strengthens our existing presence but also marks our foray into the field of dentistry, which complements our existing diagnostic services,” he said. He said despite the challenging economic environment, Qualitas was confident that the demand for essential primary healthcare services in the region remained resilient. “We will continue to focus on exploring growth opportunities both in Malaysia and in the region.
Ultimately, we aim to replicate the successful ‘Qualitas’ brand name and business model in the region,” he said. Noorul Ameen said that rising income levels and increased awareness of the need for dental care has led to substantial demand for dental care services in India. The changing patterns of oral diseases have also led to greater need for proper dental care services, which are now made affordable by technology, he said. “As such, we are optimistic that our investment in Dentistree is a timely and strategic move,” he added. The investments in PPL and Dentistree will be funded by proceeds from the group’s initial public offering in 2008. Established in 1997, Qualitas operates through a large network of clinics, predominantly in Malaysia and recently in the Asia Pacific region. The group has one of the largest networks of clinics in Malaysia, with 160 clinics operating under its ‘Qualitas’ brand name across the country. – Bernama
MUNYONYO (Uganda): The Global Smart Partnership International Dialogue which Malaysia initiated in 1997 has helped African countries embrace a new era of economic growth and development through shared ideas and experiences, former prime minister Tun Dr Mahathir Mohamad said. For instance, the Uganda government took a bold move to promote the country as a “destination of choice” for tourists around the globe following discussions during the dialogue last hosted by Kampala in 2001. This resulted in the development of a world-class tourism infrastructure as could be seen in Munyonyo near Kampala, the capital of Uganda, he said here on Sunday. The Speke resort in Munyonyo is a luxurious resort located on the shores of Lake Victoria, located some 12km from Kampala. “The development of Speke Resort in Munyonyo is one of the end products of our discussion during the Smart Partnership
BERNAMAPIX
Smart Partnership Dialogue helps Africa embrace economic growth
Mahathir speaks at a press conference in Munyonyo yesterday.
International Dialogue hosted by Uganda in 2001,” he said when asked to comment on the level of success achieved through the dialogue so far. He cited how African countries, taking Malaysia as a role model, adopted Kuala Lumpur’s “secret of
success” in Southeast Asia to help develop their economies in various fields which brings hope to millions of people in the continent. “This is a learning process for them and at the same time we also learned about their problems and try to help find solutions,” he said. Mahathir is here to attend the 19th Global Smart Partnership Dialogue, of which he is a founding member and which Uganda is hosting for the second time after the first in 2001. Deputy Prime Minister Tan Sri Muhyiddin Yassin is leading Malaysia’s delegation to the dialogue which had its roots in the Langkawi International Dialogue in 1995 and which has since spawned similar dialogues in Southern Africa. Mahathir said he places high importance on the dialogue as it helps identify problems and limitations that might restrain the implementation of planned development programmes, particularly in Africa. – Bernama
UOB eyes RM350m from new insurance product KUALA LUMPUR: United Overseas Bank Bhd (UOB) expects to reap RM350 million premium within the next two years from its new insurance product, Gain Assure II which guarantees a minimum income bonus of 3.5% annually. UOB senior head of personal financial services, Tay Han Chong, said the bank was confident of securing RM50 million in premium in the next few weeks following its launch here yesterday. “We foresee that this product
will be well received by customers in view of the guaranteed minimum 3.5% income bonus on the single premium invested,” he told reporters after the launch. The Gain Assure II, aimed at customers who prefer low risk investment while enjoying insurance protection, offers them the option of premium payments ranging from RM5,000 to RM500,000. It is open to investors from 14-days old to 60 years. The insurance is offered in collaboration with Uni.Asia Life
Assurance Bhd. Meanwhile, Uni.Asia Life Assurance chief executive officer, Ooi Say Teng, said its Bancassurance division has contributed significantly towards the growth of its new business sales production. He said the division stood at number two out of 16 life insurance companies last year with a market share of 24% for new business regular premium. “We are aiming to be number one in the first half of this year,” he said. – Bernama
Handal Resources to raise RM13m from listing
Redknapp, Zola look for early season edge in China pg 31
KUALA LUMPUR: Handal Resources Bhd, an integrated offshore crane service and manufacturing provider in the oil and gas industry, expects to raise gross proceeds of RM13.32 million from its listing exercise. In a statement yesterday, the company said that bulk of the proceeds will be used for business expansion, mainly in East Malaysia and neighbouring Southeast Asian countries. The company said it may also expand its business reach to other countries, such as those on the African continent should business opportunities arise in the future. Handal Resources is scheduled to be listed on the Second Board of Bursa Malaysia on Thursday. Besides organic growth, the company is also exploring the prospects of expansion through acquisitions, joint ventures and strategic alliances in the oil and gas industry that will complement the current and future businesses. Handal Resources is one of two American Petroleum Institute licensed companies operating in Malaysia that manufactures offshore pedestal cranes. It is the only company in the country to provide fully integrated offshore crane services in the oil and gas industry. To date, Handal Resources stands out with zero defects on 15 new cranes delivered and zero warranty call-outs on 60 cranes reconditioned. The company said it has also invested in 14 API 2C offshore pedestal cranes for the crane rental business. Its manufacturing operations are currently located on a 1.2ha yard in the Kemaman Supply Base and the group has acquired a 4ha yard located at the Teluk Kalong Industrial Area nearby. The new yard has just come onstream, with the capacity to manufacture, service, maintain and overhaul an average of 30 offshore cranes per year as compared to the current plant’s capacity of 12 cranes per year. – Bernama
briefs Goldis Water secures RM13.8m job in China KUALA LUMPUR: Goldis Water Pte Ltd, a wholly-owned subsidiary of Goldis Bhd, has clinched a RM13.8 million wastewater treatment plant concession in China. Goldis Water will operate the 25-year concession through Zoucheng Xincheng Waste Water Co Ltd. The concession includes the building, financing and maintenance of the treatment plant at the Zou Cheng Industrial Park. Zoucheng Xincheng Waste Water director Lee Choon Kok said construction of the project would start next month. – Bernama
MAS bargains on North Asian destinations KUALA LUMPUR: Malaysia Airlines (MAS) is offering bargains for destinations to North Asia under its “Get-the-Deal”, with RM300 for a one-way ticket to Taipei and RM440 to Kaohsiung. The bargains from the national carrier include a ticket priced at RM697 to Osaka, RM713 to Tokyo and RM740 to Seoul. MAS senior general manager, network and revenue management, Dr Amin Khan, said to enjoy the offers, customers only needed to register at the “Get-the-Deal” section at the airline’s website, www. malaysiaairlines.com. “Since the “Get-the-Deal” was launched a couple of months ago, we have sold some RM50 million worth of tickets,” he said in a statement yesterday. MAS flies to 13 times weekly to Taipei, 11 times to Tokyo, six times to Osaka and Seoul, and five times to Kaohsiung. – Bernama
More AirAsia flights to Tricy KUALA LUMPUR: AirAsia Bhd will increase its highly popular KL-Tiruchirappalli (Tricy) route, to two direct daily flights from Sept 1. In a statement yesterday, the carrier said to celebrate the introduction of the second KL-Tricy frequency, it is offering
an all-in-fare from RM129. The booking period for the second frequency will be from July 28 - Aug 2 for the travel period of Sept 1 - April 30. – Bernama
TM names new chairman KUALA LUMPUR: Telekom Malaysia Bhd (TM) has appointed Datuk Dr Halim Shafie (pic)as its new chairman effective July 31, succeeding Tan Sri Muhammad Radzi Mansor. Muhammad Radzi completed the fifth term of his tenure as chairman of the TM board after having served for 10 years since his appointment in 1999. In filing to Bursa Malaysia yesterday, TM said that Halim is no stranger to TM and the industry, having served as chairman of the Malaysian Communications and Multimedia Commission (MCMC) from 2006 to 2009. Halim has also served on the TM board, first as an alternate director from 1999 until 2000 and thereafter as a substantive director until 2004. – Bernama
Staedtler to close Temerloh plant KUALA LUMPUR: Staedtler, the German-based writing instrument company, will close its manufacturing plant in Temerloh by the end of April next year as part of its plans to consolidate its global production plants. Its Malaysian sales, marketing, finance, administration and warehousing will be retained locally and the company will continue to ensure its customers’ expectations of high quality and service are met, the company said in a statement yesterday. It said as a result of this consolidation, its manufacturing will be concentrated at fewer production plants. “The closure is in no way a reflection on the company’s employees or on its performance in Malaysia,” Staedtler Malaysia Berhad CEO Mandout Assim said. He said the plant closure will result in the loss of about 200 jobs.
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