B2 Thursday, April 8, 2010 BUSINESS Danajamin Nasional to issue RM3 bln guarantees Bursa shares close slightly higher : Share The rebound in exports positive with advancers KUALA LUMPUR: We are not competing with investment banks. Our capital of RM1 billion with a prices on Bursa and optimism of leading decliners by 396 to Danajamin Nasional Bhd, capacity to underwrite closed marginally higher government’s new policy to 366 while 289 counters Malaysia’s first financial role is to support and provide credit enhancement policies of up to RM15 yesterday as late buying attract foreign investors were unchanged, 311 guarantee insurer, aims to for companies investing in the economy and allow billion. support on index-linked bode well for the market, untraded and 34 others issue RM3 billion It has been rated AAA by counters pushed the key he added. suspended. guarantees this year, says both large and small entities to tap the bond or RAM Rating Services Bhd index up by 0.05 per cent, The share market saw A total volume of 1.134 its chief executive officer, sukuk market. and the Malaysian Rating dealers said. some improvement and million shares worth Ahmad Zulqarnain Onn. Corporation Bhd. At 5pm, the FTSE Bursa there was support for RM1.648 million were He said Danajamin has to Ahmad Zulqarnain Onn, Danajamin Nasional Bhd chief executive officer As part of an ongoing Malaysia Kuala Lumpur heavyweights such as transacted, up from 1.122 date approved RM1.4 billion effort by the government to Composite Index edged up and million shares worth guarantees to various ensure the continued flow 0.72 points to 1,345.09, off its Gas, while Pos RM1.545 million recorded industries such as oil and Ahmad Zulqarnain said tap the bond or sukuk of credit in the financial low of 1,341.55. Malaysia and Iris were on Tuesday. gas, construction, property Danajamin also provides a market,” he said. system for businesses, The market opened on a among counters in the Leading the actives, and plantation. guarantee for companies to “We also provide Danajamin will provide a positive note, but later lost limelight. Affin Holdings-WC rose Currently, the financial raise capital for re-financing. companies with long-term financial guarantee ground on profit taking. At the close, the Finance 5.5 sen to 23 sen while guarantee insurer is He explained it provide funds to match the economic insurance for issues of However, strong Index was up 21.11 SAAG Consolidated and evaluating about RM4-RM5 guarantees not only for life of assets or investment private debt and Islamic interests in the last 10 points to 12,150.18, the KNM Group perked up billion transactions listed companies but also of up to 20-30 years,” he securities. minutes of trading helped Plantation Index climbed half a sen each to 13 sen involving companies from those unlisted, having added. The insurance is available to lift the index higher. 10.0 points to 6,541.36 and and 77.5 sen respectively. diverse sectors, Ahmad viable businesses. Danajamin was established for securities issued by It had touched an intra- the Industrial Index Iris, the fourth most Zulqarnain said at the “We are not competing in May last year, as part of the investment grade day high of 1,347.61, the improved 7.84 points to active counter, edged up editors roundtable here with investment banks. Our RM60 billion stimulus companies, defined as rated highest since March 2008. 2,751.58. one sen to 16 sen. yesterday. role is to support and package announced by the BBB or higher by a “The local bourse has The FBM Emas Index The company has been “We will making a few provide credit enhancement government. Malaysian rating agency. been on an uninterrupted earned 15.99 points to awarded a RM115.22 announcements over the for companies investing in Wholly-owned by the Issuers will pay a upward trend for a 13th day, 9,152.02, the FBM ACE million contract by next couple of weeks,” he the economy and allow both government, Danajamin has premium to Danajamin for the longest winning streak Index advanced 1.88 points Prasarana Negara to added. large and small entities to an issued and paid-up the insurance. — Bernama in almost 16 years, amid an to 4,274.32 and the FBM70 install an automatic fare improved economic went up 45.06 points to collection system for the environment,” one of the 9,208.61. Kelana Jaya and Ampang Deutsche Bank dealers said. The market breadth was LRT lines. — Bernama launches Islamic KLCI FUTURES KLIBOR Securities THE FTSE Bursa Malaysia respectively. THE three-month Kuala Services in M’sia Kuala Lumpur Composite Meanwhile, the June 2010 LumpurFUTURES Interbank Index (FBM KLCI) futures and September 2010 Offered Rate (KLIBOR) on Bursa Malaysia contracts were down 4.0 futures on Bursa Malaysia KUALA LUMPUR: Derivatives ended lower points each to 1,340.5 and Derivatives ended flat Deutsche Bank (M) Berhad yesterday in a bearish 1,340.0 respectively. with activities dominated (BBMB), yesterday market, despite mild gains Overall volume stood by strip trades yesterday. launched the Islamic on the cash market, dealers slightly lower at 3,863 lots Strip trades of 50 lots Securities Services (SS-i), said. compared with Tuesday’s each were recorded for 12 the first shar’iah-compliant At close, both the April 4,204 lots while open interests contract months, product of its kind in 2010 and May 2010 contracts fell to 19,083 contracts from stretching from June 2010 Malaysia. lost 3.0 points each to settle 19,284 contracts, previously. to March 2013. SS-i is the latest product at 1,343.0 and 1,342.5, — Bernama The day’s volume declined to 600 lots that complements BBMB’s THREE-DAY SALE: Durian Monthong and Durian Kan Yau’s seedlings are now on sale for three Islamic banking products. compared to 1,630 lots days starting tomorrow (April 9) at Mew Yeh Nursery at Lot 527, 1 1/2th Mile along Muara Tuang Road in Kota MONEY Global Transaction yesterday while open Samarahan. Further information can be obtained by calling Voon at 016-809 2880. Banking head Ridzal Sheriff interest amounted to 31,475 said the product was SHORT-TERM rates closed The liquidity surplus in the contracts. — Bernama targeted at both domestic steadyMARKET yesterday as Bank conventional system was and foreign Islamic fund Negara Malaysia continued reduced to RM15.516 billion CURRENCY providers. AmInvestment Bank Group eyes increase in funds under to intervene in the money from RM21.231 billion “It facilitates the bank’s market to absorb surplus estimated earlier. THE ringgit rose further clients in achieving management to between RM26 bln and RM28 bln funds, dealers said. The central bank also against the US dollar at Shar’iah-compliance in As a result, the overnight conducted a late close yesterday on their operations and day-to- rate stood at 2.0 per cent and conventional tender for continuous demand for the day activities, ensuring KUALA LUMPUR: management will not just deposit rates throughout the one-week, two- RM15.5 billion and an Al- local unit, dealers said. Shar’iah transparency to AmInvestment Bank be dependent on the funds its 33-month tenure. week and three-week rates at Wadiah tender for RM5.5 At 5pm, the ringgit was their end investors,” he said Group has targeted to we launch. We will also The approved fund size is 2.01 per cent, 2.03 per cent billion, both of one-day quoted at 3.2100/2150 to the in a statement yesterday. increase total funds under promote existing funds,” 200 million units,” she and 2.05 per cent respectively. money. — Bernama US dollar, up from Islamic banking business management to between she said at the launch of said. Tuesday’s closing of 3.2130/ is conducted by Deutsche RM26 billion and RM28 the AmConstant Extra 3 Maznah said the fund 2160. RHB Bank forex RUBBER Bank in Malaysia through billion by the end of here yesterday. was the seventh under the dealer Badeeudin Mohd the Islamic Banking financial year ending Maznah said the AmConstant series. Abu Bakar said there was Window of DBMB and the March 31, 2011. company hoped to get new “All the matured PRICES on the Malaysian firm,” the dealer added. more profit-taking as this recently-launched Its Funds Management mandate to manage Amconstant funds have rubberPRICES market ended At noon, the Malaysia ringgit level had not been International Islamic Bank, Division’s chief executive the institutional funds as provided annualised higher boosted by strong Rubber Board’s official seen for some time. a subsidiary of Deutsche officer/executive well as increase Islamic returns higher than the demand from tyre physical price for tyre- “The ringgit tested the Bank AG. director, Datin Maznah assets. fixed deposit rates in manufacturers, a dealer grade SMR 20 was up 0.5 3.1930 level today compared SS-i, the first Shari’ah- Mahbob, said as at Apr 5, She said the closed-end Malaysia during their said. sen at 1,061.5 sen per kg to 3.1950 tested on Tuesday. compliant custody and 2010 total funds under AmConstant Extra 3 tenures,” she said. The dealer said an while latex-in-bulk rose 5.5 Some bankers took fund services product management were RM20 would satisfy the growing The offer period is 45 uptrend in rubber prices on sen to 754.0 sen per kg. opportunity of the ringgit available in Malaysia, billion. needs of investors looking days until May 14, 2010 and the Tokyo Commodity The unofficial closing continuously gaining provides value-added She said the company for a steady stream of will be sold at RM1.00 per Exchange also lifted buying price for tyre-grade SMR momentum, and also more services to Islamic fund planned to launch 10 more income. unit. sentiment in the local 20 added 2.0 sen to 1,062.5 importers came in to buy, clients in their management funds this year. “It aims to provide The minimum market. sen per kg and latex-in-bulk lending further support for of Shari’ah compliance and “The increase in the consistent returns above investment is RM5,000. — “The market increased by 4.5 sen to 755.5 the local unit to rise,” he governance activities. — fund size under the prevailing fixed Bernama fundamentals remain sen per kg. — Bernama said. — Bernama Bernama Possibility of multiple partnership model

◆ From Page B1 on a similar move in order Proton’s plant offered to move around tariff much larger capacity Savvy model after this barriers and maintained compared with other key year. competitiveness against vehicle assembly plants in Despite all the given each other. the country by a very large factors, the research AmResearch expected gap. house did not rule out any successful lease or Financially, Proton’s possibilities of Proton sale of Proton’s Shah fundamental had gained undertaking a multiple Alam plant to foreign strength following the partnership model, with carmaker to have a launch of its Exora model key focus on research positive bearing on its (Proton's first Multi- and development/ much larger Tanjung Purpose Vehicle model), platform sharing while Malim assets as well. To as shown in a sharp a partner purely recap, Tanjung Malim turnaround of Proton's emphasising on co- entails a land area of 1,280 profitability over the past marketing and contract acres. three quarters. The was manufacturing to The Tanjung Malim due to better pricing address under plant land area could power, higher percentage utilisation at Proton’s easily accommodate of common parts, higher plants. production facilities localisation as well as Should Proton manage sizing up to a million lower research and deve- to strike a strategic part- vehicles per annum, lopment cost incurred. nership, AmResearch did positioning this plant as Additionally, the not expect involvement of the biggest attraction yet structural reduction in any equity sale at holding for a foreign suitor. Proton’s dealer network company level. Rather, it Additionally, only had contributed to a more would be more inclined to Proton’s and Perodua’s efficient cost base. Proton believe that strategic (Perusahaan Otomobil had undertaken various assets from both Proton Kedua Sdn Bhd) plants initiatives to consolidate and a foreign partner were considered pure its service and dealer would be injected into a manufacturing plants as network since the second joint venture (JV) these were the only plants quarter of last year. company, with the foreign in Malaysia that were Generally, this had partner holding a capable of body stamping been reflected in a majority stake. processes. significant reduction in On the other hand, a In fact, Proton’s sales and distribution decision by VW to Tanjung Malim plant cost, declining 56 per cent produce vehicles locally entailed one of the largest quarter-on-quarter to would likely force and most advanced RM400 per unit in its competitors within the stamping facility in the September quarterly same segment to embark region. Moreover, results.