theSun | TUESDAY JUNE 9 2009 17
business KLCI
STI
1,072.85
2,333.70
2.65
62.65
Nikkei
TSEC
9,865.63
6,628.02
97.62
228.72
Hang Seng 18,253.39 426.14 KOSPI 1,393.30 1.41
SCI 2,768.24 14.45 S&P/ASX200 CLOSED
KL market summary
JUNE 8, 2009
INDICES
FBMEMAS
CHANGE
7,206.07 -7.47
KL shares close on mixed note
COMPOSITE 1,072.85 -2.65 SHARE prices on Bursa Malaysia closed on slump a few months ago,” it said.
INDUSTRIAL 2,340.91 -12.33 a mixed note yesterday as players stayed on The bank said the uptrend in the prices of
CONSUMER PROD 316.55 +1.13 the sidelines in the absence of fresh leads, crude oil and crude palm oil had been impres-
INDUSTRIAL PROD 86.73 -0.39 dealers said. sive and there was little downside risk going
CONSTRUCTION 205.74 -0.23 The KLCI fell 2.65 points to close at 1,072.85 forward thanks to the renewed optimism that
TRADING SERVICES 144.66 -0.55
FINANCE 8,401.96 +0.45
led by losses on selected blue-chips. the global recession was decelerating.
PROPERTIES 736.18 +2.76 It opened 4.92 points higher at 1,080.42 in Among the active counters were Frontken
PLANTATIONS 5,454.53 +12.26 the morning. Corp, which fell 1.5 sen to 31.5 sen, TA Enter-
MINING 310.05 +2.03 MIMB Investment Bank in a research note prises Bhd-Warrants (2), unchanged at half sen,
FBMSHA 7,485.78 -10.47 yesterday said this week could be dry in terms Olympia Industries up one sen to 32 sen and
EXCHANGE RATES June 8, 2009
FBM2BRD 4,719.86 +2.25 of news for KLCI and local investors may con- SAAG Consolidated declined two sen to 35 sen.
TECHNOLOGY 15.16 +0.35 Foreign currency Bank sell Bank buy Bank buy
tinue to look at Wall Street for trading clues. In heavyweights, Sime Darby, Maybank and
TURNOVER VALUE It said for high-risk investors, it would Tenaga closed unchanged at RM6.95, RM5.60 TT/OD TT OD
2.055bil RM1.7bil
recommend plantation and oil and gas stocks and RM7.90 respectively while Telekom rose 1 US DOLLAR 3.5460 3.4810 3.4710
thanks to their meteoric increases from the two sen to RM2.72. – Bernama 1 AUSTRALIAN DOLLAR 2.8630 2.7370 2.7210
1 BRUNEI DOLLAR 2.4440 2.3840 2.3760
1 CANADIAN DOLLAR 3.1820 3.1050 3.0930
Global airlines to lose US$9b 1 EURO
1 NEW ZEALAND DOLLAR
1 PAPUA N GUINEA KINA
1 SINGAPORE DOLLAR
1 STERLING POUND
4.9660
2.2530
1.4310
2.4435
5.6780
4.8460
2.1550
1.1700
2.3840
5.5400
4.8260
2.1390
1.1540
2.3760
5.5200
this year, says IATA
1 SWISS FRANC 3.2740 3.1940 3.1790
World 100 ARAB EMIRATES DIRHAM 98.2800 93.0800 92.8800
thinkers 100 BANGLADESH TAKA 5.5200 5.2000 5.0000
100 CHINESE RENMINBI N/A N/A N/A
converge 100 DANISH KRONE 68.6700 63.1000 62.9000
in KL 100 HONGKONG DOLLAR 46.5600 44.0900 43.8900
KUALA LUMPUR: The Even an economic “This time we face a 15% Poor’s Equity Research in
pg 18 100 INDIAN RUPEE 7.8000 7.1700 6.9700
world’s airlines are expected recovery could complicate drop – a loss of revenues of Singapore, said “my own 100 INDONESIAN RUPIAH 0.0372 0.0320 0.0270
to lose US$9 billion (RM31.5 things if “greedy specula- US$80 billion (RM280 bil- feeling is that it could even 100 JAPANESE YEN 3.6040 3.5170 3.5070
billion) this year, industry tion” sends oil prices rising lion) – in the middle of a get worse, depending on 100 NEW TAIWAN DOLLAR N/A N/A N/A
body IATA said yesterday again, Bisignani warned. global recession,” he said. how the next six months 100 NORWEGIAN KRONE 57.2200 52.2900 52.0900
in a drastic reassessment of Carriers in all regions The industry is expected pan out”.
the worst slump the indus- 100 PAKISTAN RUPEE 4.5100 4.2200 4.0200
are expected to report losses to generate US$448 billion “Nothing can shake up
try has ever faced. this year, with Asia-Pacific (RM1.568 trillion) in the industry more than by 100 PHILIPPINE PESO 7.7000 7.2400 7.0400
The forecast is almost airlines – once the brightest revenues this year, down looking at those numbers,” 100 QATAR RIYAL 98.9500 94.1200 93.9200
double an estimate made spot of the industry – ac- from US$528 billion said Shukor, who was 100 SAUDI RIYAL 96.0300 91.3500 91.1500
just three months ago, mak- counting for more than a (RM1.848 trillion) last year. attending t h e 100 SOUTH AFRICAN RAND 45.4000 41.7600 41.5600
ing the crisis worse than third of the global total loss “Our future depends I A T A 100 SRI LANKA RUPEE 3.1900 2.9300 2.7300
the aftermath of the Sept 11, at US$3.3 billion (RM11.55 on a drastic reshaping by confer-
2001 attacks in the United 100 SWEDISH KRONA 47.2100 42.9300 42.7300
billion). partners, governments and ence. Bisignani
States, the International Air “This is the most difficult industry. We cannot bear – AFP 100 THAI BAHT 11.0900 9.4000 9.0000
delivers his Source: Malayan Banking Berhad/Bernama
Transport Association said. situation that the industry the cost of government keynote
Combined with the has faced,” Bisignani said, micro-regulation, crazy address.
revised estimate that it lost calling for greater liberali- taxation and partners abus-
US$10.4 billion (RM36.4 bil- sation in the industry. ing their monopoly power,”
lion) last year, the industry
now looks set to lose almost
In March, IATA had fore-
cast 2009 losses at US$4.7
the IATA head said.
Akbar Al Baker, chief OZ Minerals says
US$20 billion (RM70 bil- billion (RM16.45 billion), executive of Qatar Air-
lion) over two years.
“There is no modern
but it was forced to drasti-
cally raise the figure as
ways, played down the
forecast.
it will stick with
China deal
precedent for today’s well as revise 2008 industry “Where did he get
economic meltdown. The losses up to US$10.4 billion, the figures? He is just
ground has shifted. Our from an earlier estimate of estimating,” he told
industry has been shaken,” US$8.5 billion (RM29.75 AFP, adding that SYDNEY: Australian miner OZ Minerals said yester-
IATA director-general billion). his company day it would stick with a plan to sell most of its assets to
Giovanni Bisignani told the Bisignani said the impact was still de- China’s Minmetals and reject a last-minute alternative
association’s annual meet- of the global financial and termined to proposal.
ing. economic crisis was worse order 200 new The debt-laden miner said it would not pursue an
Despite lower fuel than that of the Sept 11, planes from unsolicited US$1.2 billion (RM4.2 billion) refinanc-
AFPPIX
charges, airlines will suffer 2001 attacks on the US. this year to 2017 ing proposal from Royal Bank of Canada (RBC) and
from a drop of 8% in pas- After the attacks, global in addition to the 84 RFC Group made on Friday because the Minmetals
senger demand and 17% in airline revenues tumbled now in its modern proposal offered better value.
cargo demand in 2009 as by 7% and it took three fleet. “We certainly had a very close look at their proposal,
the global economy grap- years for the industry to But Shukor Yusof, we have taken independent advice. We concluded it ...
ples with its worst recession recover despite a strong an aviation analyst doesn’t have any prospect of becoming a superior pro-
since the 1930s. global economy, he said. with Standard and posal,” OZ Minerals business support general manager
Bruce Loveday said.
Loveday also said the RBC-RFC proposal “wasn’t
sufficiently certain”.
Airlines eye carbon-neutral by 7%. IATA groups 230 of the world’s
airlines. – Bernama
The proposal by Minmetals has already been ap-
proved by the Australian government and is due to go
briefs growth by 2020
KUALA LUMPUR: The world’s airlines Asean single aviation
to a shareholder vote on Thursday.
Loveday said that should the Minmetals transaction
have committed to achieve carbon-neutral be voted down, OZ Minerals would run “a very high
growth by 2020, International Air Transport market set to take off risk of receivership”.
MAHB wins best airport Association’s (IATA) director-general/chief KUALA LUMPUR: The Association of South-East RFC managing director Rob Adamson said his
executive officer Giovanni Bisignani said Asian Nations’ (Asean) single aviation market consortium had extended its offer for OZ Minerals
award yesterday. will become a reality in “just a matter of time”, until close-of-business Thursday, so the company’s
KUALA LUMPUR: Malaysia Airports Holdings Their commitment completes a set of enabling member countries to directly benefit shareholders would have an opportunity to consider
Bhd (MAHB) has won the Eagle Award in the three sequential goals for air transport – a from the growth in air travel worldwide. it.
best airport category from the International Air 1.5% average annual improvement in fuel Singapore’s Minister Mentor, Lee Kuan Yew, “Should shareholders of OZ Minerals reject the
Transport Association (IATA). efficiency from 2009 to 2020, carbon neu- said every Asean member country believed it Minmetals offer, the OZ Minerals board will still have
Commenting on the achievement, MAHB tral growth from 2020 and a 50% absolute could be a hub and was prepared to take on the option of pursuing our recapitalisation proposal,”
managing director Tan Sri Bashir Ahmad Abdul reduction in carbon emissions by 2050. competition. Adamson said.
Majid said the award was a recognition of the “Demand will continue to increase, but “It is just a matter of time before the single Canberra approved Minmetals’ US$850 million
efforts by the government, MAHB and Malaysia any expansion of our carbon footprint will aviation market becomes a reality,” he said at (RM2.975 billion) offer after the Chinese firm adjusted
Airlines to ensure a successful aviation indus- be compensated,” Bisignani said. a special session at the 65th International Air it to exclude OZ’s flagship Prominent Hill mine because
try in Malaysia. Bisignani said wide cooperation was Transport Association (IATA) annual general it was located near a military rocket testing range in
“This recognition is for providing outstand- needed from allied industries and govern- meeting yesterday. South Australia.
ing performance in customer satisfaction, cost ments. The single aviation market is expected Had the deal failed, it would have been the second
efficiency and continuous improvement,” he “Air navigation service providers introduce an open-sky arrangement in the Chinese offer related to Australia’s resources sector to
told a media briefing at the 65th IATA annual must make it possible to fly even more region by 2015, thus fully liberalising air travel have soured in less than a week, after Rio Tinto last
general meeting here yesterday. effectively. Fuel companies must supply between member states. Friday dumped a planned tie-up with Chinalco.
On whether MAHB would able to maintain eco-friendly fuels and governments must Earlier, Lee was given the third Global Rio rejected Chinalco’s US$19.5 billion (RM68.25
the airport charges, Bashir said: “We will try to give us access to credits in global carbon Aviation Leadership Award for his vision and billion) offer for an improved stake in the mining giant,
do it because we need to support the airline markets,” he said. understanding that aviation is the thriving saying improved commodity prices meant a rights
industry as they are our biggest partner.” Bisignani said the carbon footprint of air force behind Singapore’s economy in the 20th issue and a joint venture with former rival BHP Billiton
– Bernama transport this year was expected to shrink century. – Bernama were more appealing. – AFP
