theSun | TUESDAY JANUARY 20 2009 17

business Hang Seng S&P/ASX200

TSEC
4,366.76
KLCI
890.28 STI KOSPI Nikkei
13,339.99 3,589.30 0.66 6.19 1,746.99 1,150.65 8,256.85
84.48 38.40 16.54 15.45 26.70

market summary

Chana Era makes

JANUARY 19, 2009

INDICES CHANGE
FBMEMAS 5,828.19 -41.35
COMPOSITE 890.28 -6.19
INDUSTRIAL 2,084.23 -22.69
CONSUMER PROD 284.58 -1.79

Malaysian debut
INDUSTRIAL PROD 67.43 -0.30
CONSTRUCTION 167.49 -0.26
TRADING SERVICES 117.64 -0.94
FINANCE 6,985.21 -55.48
PROPERTIES 537.06 -7.38
PLANTATIONS 4,372.52 +24.71
MINING 249.25 UNCH
FBMSHA 6,066.35 -28.32 hy Hemananthani Sivanandam models in South Africa by the end of the year.
FBM2BRD 3,982.90 -18.99
TECHNOLOGY 13.11 -0.16
newsdesk@thesundaily.com Carmaker Changan Automobile Company,
meanwhile, plans to make Malaysia the as-
TURNOVER VALUE KUALA LUMPUR: Two Chana Era models – CV6 sembly hub for its right-hand drive vehicles in
421.934mil RM437.957mil and CM8 – made their debut in the Malaysian Asean, South Africa and other right-hand drive
market yesterday. markets.
The vehicles, distributed by Changan Berjaya “Malaysia market is a strategic market for
Prices end lower on Auto Sdn Bhd, have a combination of Italian Changan vehicles in the world. It is an important
designs, Japanese technology and German engi- base for Changan to export to Southeast Asia
profit-taking neering and come with an affordable price tag. and even to the entire African market,” said Wu
SHARE prices on Bursa Malaysia ended The CV6 model is hatchback and the CM8 is Xue Song, chairman of Changan International
lower yesterday with investors taking in a multi-purpose vehicle (MPV). Corporation.
profits ahead of the Chinese New Year “With their affordable prices, attractive looks The car has 40% local content, making it
holidays, dealers said. and safety features, the Chana Era cars will cer- eligible for export in Asia through Afta (Asean
The benchmark KLCI closed at tainly offer Malaysians an exciting new option in Free Trade Agreement).
890.28, down by 6.19 points led by the entry-level segment, which is expected to Meanwhile, Changan Berjaya Auto plans to
Bumiputra-Commerce. be one of the most active automotive segments sell 5,000 units of Chana Era this year despite
Maybank Investment Bank Bhd’s in the foreseeable future,” said Deputy Prime the global economic slowdown.
head of retail research, Lee Cheng Hoo, Minister Datuk Seri Najib Abdul Razak in launch- The company, which will initially assemble
said the bourse was hit by profit-taking ing the two models at Berjaya Times Square. the cars in Johor, plans to build a manufacturing
in finance and blue chips. Among the fi- At the launch, a Changan Berjaya Auto facility with a production capacity for 30,000
nance counters, Bumiputra-Commerce also signed memorandums of understanding units in Rawang.
shed 15 sen to RM6.35 and Public Bank with market representatives from Sri Lanka, “We plan to build the plant when we hit the
declined 10 sen to RM8.75. Singapore, Thailand, Indonesia and Brunei for sales target of 10,000-15,000 units in Malaysia in
The KLCI was dragged down mostly the distribution of the cars in their respective two years,” said Changan Berjaya Auto director
by foreign investors’ sell-off in the countries. Datuk Francis Lee.
finance sector, Lee said. “There is already a demand for the Era CV6 Berjaya Corporation entered into an agree-
He also expected the market to automatic version from Thailand. We will be able ment with Changan Automobile Company to
move in range-bound for the rest of the to deliver the first batch of this model in April assemble and distribute Changan vehicles in
week in line with other markets in the or May,” said Datuk Tony Khor, chief executive Malaysia in 2005.
region. – Bernama officer of Changan Berjaya Auto. “We will also be Changan Automobile owns four bases, 11
shipping the vehicles to Singapore, Brunei and Sri vehicles factories and two independent engine
Lanka very soon.” plants in China. It has established strategic part-
Kraft opens new The hatchback version is expected to reach
the Indonesian market in July or August.
nerships with Ford, Mazda, Volvo and Suzuki. It
also has research and development facilities in
factory in Prai The company also aims to market the two Italy, Japan, Germany and China.

BUTTERWORTH: Kraft Malaysia Sdn

Bhd (Kraft), a leading food company of
biscuits, salty snacks and cheese, has
solidified its commitment to Malaysia as
its production base with the opening of
its new biscuit factory in Prai yesterday.
Its managing director for Malaysia,
Singapore and Brunei, Dieter Schulz,
said the new facility, which is placed
adjacent to its existing snack plant in
Prai, will enhance production capac-
ity to meet the growing consumer
demand and support the company’s
growth plans.
Speaking to reporters after the
opening ceremony by Chief Minister
Lim Guan Eng, Schulz said the new
factory will complement Kraft’s other
two existing factories in Johor Baru
and Prai and is expected to contribute
50% to the company’s revenue in Ma-
laysia. – Bernama
Green World Biotech to invest
RM100mil in Penang
by Bernard Cheah
newsdesk@thesundaily.com
GEORGE TOWN: Chief Minister Lim Guan Eng
has announced the first “green technology”
investment for the state this year with the es-
tablishment of a biodegradable products factory
in Penang Science Park at Bukit Minyak.
Local company Green World Biotech Sdn Bhd
will invest RM100 million over a period of four
years to produce biodegradable products such
as burger boxes, lunch boxes and plates from
sugarcane husk.
“This are innovative and creative products
for the state, which are also healthy and clean,”
he said.
Green World Biotech is among few compa-
nies in the country to produce such environ-
ment-friendly products, he said.
These products have a shelf life of two years,
and will degrade in 45 days after usage. The
remains could be used as organic fertiliser.
“The state government hopes to educate the
people about this and encourage people to use
biodegradable products,” he told reporters at his
office yesterday.
Lim also the factory will offer employment
for up to 1,000 people.
Green World Biotech chief executive officer
R. Ramaness said production at the factory,
located on a 4ha site, would begin in the fourth
quarter of this year.
TNB records net loss of
RM944mil in Q1
KUALA LUMPUR: Tenaga Nasional Bhd incurred a
net loss of RM944.1 million for the first quarter ended
Nov 30, 2008, after accounting for a forex translation
loss of RM1.439 billion.
If not for the forex translation loss, TNB would
have reported a net profit of RM495.6 million.
Revenue rose to RM7.895 billion versus RM6.208
million, the power company said in a statement
yesterday.
The company also announced a two-year exten-
sion of the tenure of its chairman Tan Sri Amar Leo
Moggie from March 12 this year. – Bernama