18 theSun | MONDAY DECEMBER 15 2008

business news

market summary
INDICES
FBMEMAS
COMPOSITE
INDUSTRIAL
CONSUMER
5571.30
852.27
2028.57
272.40
DECEMBER 12, 2008

CHANGE
-51.07
-8.41
-31.79
-1.87
M’sia’s best entrepreneurs
by Karen Arukesamy
newsdesk@thesundaily.com
IND-PROD 66.57 -0.07
CONSTRUCTION 162.85 0.57
TRAD/SERV 115.10 -1.35
KUALA LUMPUR: Some of the country’s
FINANCE 6634.35 -76.09 best entrepreneurs received the Ernst &
PROPERTIES 504.26 -1.56 Young recognition but only one walked
PLANTATION 3879.22 -10.30 away with the Malaysian Entrepreneur of
MINING 243.17 UNCH the Year 2008 award.
FBMSHA 5770.70 -48.11 Selected after a rigorous process from
FBM2BRD 3906.19 -18.71 four nominees was Eversendai Corporation
TECHNOLOGY 13.33 0.16 Sdn Bhd founder and managing director
TURNOVER VALUE Datuk A.K. Nathan, who also won the
306.738mil RM501.341mil
Master Entrepreneur of the Year award.
The 51-year-old builder has to date
completed more than 100 projects locally
Share prices expected and in Singapore, the Philippines, Indonesia,
Thailand and the Middle East.
to be lower this week “I’m really surprised (to receive
KUALA LUMPUR: Share prices on Bursa this award) because there are other
Malaysia are expected be lower as investors heavyweights among the top nominees.
continue to be wary over the uncertainties in “But I always believe that as long as
the global financial system, dealers said. you don’t expect anything and you receive
Despite several bailout programmes intro- something, the satisfaction and happiness
duced by the United States to minimise the is immeasurable,” Nathan said, admitting
impact of the global financial crisis, investors that he did have butterflies in the stomach
are taking the cautious approach before mak- nearing the announcement.
ing any major decisions on investment. “I have been approached by Ernst &
However, window-dressing activities on the Young for the past four years and decided to (From left) Nathan, Ernst & Young country managing director See Huey Beng, Nor Mohamed,
local bourse are expected until the end of the submit my application this year and did not Nabilah, Harvinder and Chua pose for a group photo after the awards presentation ceremony.
year, which can actually provide the impetus expect to be the winner.
for cheaper but value stocks. “Being in the industry for about 25 years,
The benchmark Kuala Lumpur Composite we never delayed a single job and never “Whilst the government will try to ensure InControl Tech Sdn Bhd co-founder and
Index (KLCI) is expected to trade between 840 compromised in the quality and safety a conducive business environment for managing director Harvinder Singh, 46,
to 890. aspects,” Nathan said. enterprises, entrepreneurs must seize these had at first felt his company was too small
On Friday, the market ended lower, dragged “I still believe Eversendai will continue opportunities to grow and prosper their an organisation to be participating in the
by losses in heavyweights as investors took to grow and do better than businesses.” awards since he thought this was the “big
advantage of earlier gains. On a Friday-to-Fri- what it had done in 2008, Nor Mohamed said as guns award”.
day basis, the KLCI closed the week at 852.27, despite the (economic) the nation’s outstanding “I think being an entrepreneur is a very
rising 13.99 points compared to last week’s crisis, because I have got entrepreneurs, they challenging journey and what people see
838.28. The Industrial Index rose 33.92 points excellent staff.” must continue to from the outside are the successes, big
to 2,028.57, the Finance Index surged 129.52 Nathan received his create an ecosystem for projects completed, the money made.
points to 6,634.35 and the Plantation Index award from Second entrepreneurial growth “What they do not see is the struggle and
jumped 111.68 points to 3,879.22. Finance Minister Tan Sri and inspire others to pain you go through in coming up as an
The FBMEmas increased 91.46 points to Nor Mohamed Yakcop at achieve as well. organisation,” Harvinder said.
5,571.30, the FBM30 jumped 85.15 points to a ceremony at JW Marriot Three other awards “The strength of an entrepreneur, you
5,477.75, the FBM2BRD fell 34.03 points to Hotel last week. presented at the ceremony were awards always hear, is resistance, but it is more of
3,906.19 and the FBM-MDQ gained 148.51 Nathan will be competing with more for Emerging, Technology and Women the ability to keep getting up each time you
points to 3,346.71. – Bernama than 50 of the world’s best entrepreneurs Entrepreneurs. fall and keep going when all odds are against
for the Ernst & Young World Entrepreneur Pulse BPO Sdn Bhd CEO and co- you,” said the leader of the only Sikh Private
of the Year Award in Monte Carlo next founder Bob Chua, 34, won the Emerging Bagpipe Band in the world.
June. Entrepreneur Award. The Woman Entrepreneur of the Year
“Entrepreneurs in their journey have “My company has won several awards Award recipient is founder and managing
one common trait. Entrepreneurial throughout this year but none as important director Sipro Plastic Industries Sdn Bhd
spirit that has inspired them in their and prestigious as this. I started my business Noraini Soltan, 46, who was represented by
continuous pursuit of value adding on their three years ago,” he said. her niece Nabilah S. Talib.
achievements,” Nor Mohamed said in his “It is now one of the biggest brand in She said the award would motivate her
speech. market research and the fastest growing aunt to be a better entrepreneur.
“Malaysia has world class entrepreneurs online research agency. “I am not an entrepreneur but coming
and household brandnames who have “The biggest testimony should go to the from a business oriented family, I see my
successfully walked in the path of people who dedicated themselves to the aunt as one of the most hardworking person
excellence that we can be proud of.” growth of the company. and she never gave up in whatever she
Nor Mohamed said in the current “It is such an honour to be with a great does,” Nabilah said.
fragile global environment, the depth of alumni of entrepreneurs. I’m looking The Ernst & Young awards are
the slowdown is highly uncertain, thus forward to participating in a country and recognised as premium business
Malaysian enterprises have a crucial hopefully bringing Malaysia to the next awards. The judges go through a very
role to play in supporting the domestic level,” Chua said. stringent process in the evaluation of the
economy. Technology Entrepreneur Award winner entrepreneurs.

Penang’s domestic investment soars

GEORGE TOWN: The domestic
investment in Penang for this
year, totalling RM4.8 billion, is
the highest in the country and
in the history of the state, Chief
Minister Lim Guan Eng said.
“The amount of domestic
investment from January to
September this year is even
more than foreign investment
which was RM3.2 billion for the
same period,” he said in a press
conference at InvestPenang last
week.
He said the high amount of
domestic investment shows
the confidence of local inves-
tors in Penang and the state
government.
The total domestic invest-
ment has also more than dou-
bled compared with last year
where the domestic investment
was only RM1.6 billion while
foreign investments amounted
to RM3.1 billion, bringing the
total investments in the state
for 2007 to RM4.7 billion.
“Last year, Penang’s ranking
in terms of total capital invest-
ment had dropped to number
five, losing out to even Kedah.
This year the state has scaled
back up to number three from
number five,” he said.
Sarawak topped the list
with a total capital investment
of RM13.25 billion followed by
Johor with RM10.96 billion and
Penang with RM8 billion.
“The RM8 billion in total
investment is the highest in
the state’s history and we had
hoped to reach RM10 billion if
not for the economic crisis,”
Lim said.
Lim also announced the
appointment of vice-chairmen
for the investment and serv-
ices advisory panels set up to
adopt future growth strategies,
stimulate the economic growth
and identify challenges and
measures to adopt to face the
coming economic uncertainty
next year.
Datuk Boonler Somchit and
Datuk Seri Kelvin Kiew have
been appointed as the vice-
chairmen for the investment
advisory panel while Datuk
Fauzi Naim Noor and Marco
Battistotti are the vice-chair-
men for the services advisory
panel.
“We are starting a job retrain-
ing scheme and carry out social
programmes to create more job
opportunities,” Lim said, add-
ing the state government will
remain focused on the private
sector as the state’s growth is
private sector driven.
As for the services or tour-
ism industry, based on number
of hotel guests for the first half
of this year, Lim said Penang is
number four in the list.
Topping the list is Kuala
Lumpur with total hotel guests
of 9.5 million, second is Pahang
with 3.4 million and third is
Sabah with 3.2 million while
Penang had 2.7 million.