theSun | TUESDAY NOVEMBER 11 2008 15

business news Hang Seng

14,744.63
S&P/ASX200
4,107.8
501.20 56.5
TSEC
4,740.27 KLCI STI KOSPI Nikkei
2.06 904.24 1,885.02 1,152.46 9,081.43
10.29 21.53 17.97 498.43

market summary
NOVEMBER 10, 2008

Bursa shares firmer INDICES CHANGE

SHARE prices on Bursa Malaysia ended PMEMAS 5,953.81 +72.98
firmer yesterday following continuous COMPOSITE 904.24 +10.29
bargain-hunting activities in selected heavy- INDUSTRIAL 2,143.52 +26.01
weights on the back of an improved global CONSUMER PROD 276.97 +2.11
INDUSTRIAL PROD 71.33 +1.17
sentiment, dealers said.
CONSTRUCTION 163.70 +5.28
They said interest in key index stocks, espe- TRADING/SERVICES 126.63 +1.43
cially plantation stocks, helped pushed the KLCI FINANCE 6,925.44 +51.83
to 904.24, up 10.29 points or 1.15% at close. PROPERTIES 546.70 +10.99
The CI opened 7.72 points higher at 901.67 PLANTATIONS 3,918.91 +108.08
in the morning. MINING 251.28 +4.05
Gainers thumped losers by 458 to 140 while FBMSHA 6,186.69 +96.62
182 counters were unchanged, 550 untraded FBM2BRD 4,425.02 +24.82
TECHNOLOGY 14.52 +0.22
and 34 others suspended.
At the regional level, market sentiment TURNOVER VALUE
improved as China announced a US$586 billion 968.847mil RM930.312mil
(RM2.051 trillion) stimulus package on Sunday
to cushion the impact of the US financial crisis
on its economy. Plantation counters, Sime Darby and Kuala Lumpur
Last week, Malaysia announced a RM7 Kepong increased 20 sen each to RM6.40 and RM8.40
billion stimulus package to boost the local respectively and IOI Corporation added 12 sen to
economy. RM3.24.
Volume leaders KNM Group added 3.5 As for the heavyweights, MISC eased five sen to
sen to 69 sen, MRCB rose 4.5 sen to 87 sen, RM8.45, Public Bank added five sen RM8.65, Tenaga
Scomi increased four sen to 44.5 sen and Time gained 15 sen to RM6.25 while Maybank dropped 10
DotCom added 3.5 sen to 30.5 sen. sen to RM5.55. – Bernama

Scomi wins RM1.8b

monorail job in Mumbai
KUALA LUMPUR: Scomi
Engineering Bhd has
bagged a monorail contract
in Mumbai, India worth
RM1.846 billion under its
unincorporated consortium
with Larsen & Toubro Ltd
(L&T).
In its filing to Bursa
Malaysia here yesterday,
Scomi said L&T would be
the consortium leader as
the parties did not intend to
incorporate a joint-venture
company to undertake the
project.
L&T, a construction
company, has a successful
track record as a builder of
rail-related infrastructure
project including the New
Delhi Metro.
The 19.5km monorail
project commences from the
southwest side of the city
at Gadge Maharaj Chowk
(Jacob Circle) heading
northeast to Chembur.
The deal involves the
design, development,
construction, testing and
commissioning of the
system including safety
certification for commercial
operations within 30 months
from the date of issue of the
letter of acceptance.
The operation and
maintenance of the system
would be for three years
after the commissioning of
the system.
Based on the Scomi
Engineering’s scope of
works, the value of the
award is RM823.299 million.
The monorail project
is expected to contribute
positively to the future
earnings of the company, it
said. – Bernama

(LSE) due to the liquidity crunch in the global

briefs
Mah Sing expects RM118m
from Setapak project
KUALA LUMPUR: Mah Sing Group Bhd ex-
pects its proposed StarParc Point project in
Setapak to generate a total gross development
value (GDV) of RM118 million.
The project came about after its wholly-
owned subsidiary, Supreme Spring Sdn Bhd,
acquired the exclusive rights to develop ap-
proximately 5.3 acres of prime freehold land
from Link Mart Sdn Bhd for RM13 million in
cash.
The cash consideration will be paid in five
progress payments based on specified mile-
stones of development until the sub-division of
land is obtained, Mah Sing said in a statement
yesterday.
“We plan to introduce new concepts to in-
ject a fresh vibrancy into Setapak. That the land
is in a prime location represents a coup for Mah
Sing, especially in view of the favourable terms
and with the surrounding area being mainly
leasehold land,” said group managing director
Datuk Seri Leong Hoy Kum. – Bernama
Green Rubber defers
London listing
KUALA LUMPUR: Green Rubber Inc, a sub-
sidiary of the Petra Group, has deferred
its listing on the London Stock Exchange
markets.
Petra Group founder/group chief execu-
tive, Datuk Vinod B. Sekhar, said the company
would do so when the market was ready.
“We are not in a rush for the listing. We
will wait until second or third quarter next
year before making any decision,” he told a
media briefing on Green Rubber’s deal to sup-
ply footwear company, Timberland, with its
revolutionary recycled rubber compound.
The Petra Group owns 85% stake in Green
Rubber, a tyre-recycling firm. Among its share-
holders are Forbes vice-chairman Christopher
Forbes and Hollywood stars Bruce Willis and
Mel Gibson. – Bernama
IJM tipped to develop Kerala
medical city
KOZHIKODE (Kerala): A consortium comprising
IJM Berhad and Malaysia Allied Health Science
Academy College (MAHSA) is tipped to develop a
medical city in Kerala once the state government
gives its nod.
The Kerala State Industrial Development Cor-
poration and Malaysia’s Construction Industry De-
velopment Board, both parties of the consortium,
are engaged in serious talks to ink the agreement
for the RM433 million (US$120 million) project in
Kinalur in Kozhikode City.
“Malaysian companies have expressed interest
to develop this project.
“This is a good opportunity for our country to
export the expertise we have and develop our
own technical knowledge,” Works Minister Datuk
Mohd Zin Mohamed, who visited the project site,
told Bernama.