theSun | FRIDAY APRIL 17 2009 15

KLCI 961.28 4.60 Nikkei 8,755.26 12.30

business STI 1,891.75 14.24 TSEC 5,997.17 121.98
Hang Seng 15,582.99 86.63 KOSPI 1,336.72 3.63
SCI 2,534.13 1.92 S&P/ASX200 3,775.70 28.20

KL market summary
APRIL 16, 2009

Nestle allocates RM320m The coffee factory

which is located
in Shah Alam, is
INDICES
FBMEMAS
COMPOSITE
INDUSTRIAL
CONSUMER PROD
INDUSTRIAL PROD
CONSTRUCTION
6,334.34
961.28
2,224.91
298.26
72.30
187.86
CHANGE
+24.45
+4.60
-8.71
+1.94
-0.47
-1.52

for capex this year expected to be ready

PETALING JAYA: Nestle
(Malaysia) Bhd has allocated
RM320 million as capital
expenditure for this year with
the focus on upgrades to its
coffee and non-dairy creamer
factories.
Nestle managing director
Sullivan O’Carroll said RM110
million will be used for the
coffee factory upgrade and
RM80 million for the non-dairy
creamer, while the remaining
will go towards improving other
product lines.
Speaking to reporters after
the company’s annual general
meeting yesterday, he said the
factory upgrades, would enable
it to cater to the future export
of the products to other coun-
tries.
“The coffee factory which is
located in Shah Alam, is expected
to be ready by November this
year and we will then focus on
the export market,” he said.
Meanwhile, new flavours
will be introduced for its instant
noodle product, MAGGI, along
with a slight adjustment in the
selling price to make it more
competitive.
According to O’Carrol, the
adjustment is expected to take
place around the third quarter of
this year.
On expansion plans, O’Carroll
said the company is continu-
ously looking for opportunities
but for time being, it would focus
on product branding and market
share.
He said this year was a chal-
lenging one with more com-
petitors joining the industry and
securing the market share was
a priority.
by November this year
and we will then focus
on the export market.”
TRADING SERVICES
FINANCE
PROPERTIES
PLANTATIONS
MINING
FBMSHA
FBM2BRD
TECHNOLOGY
128.13
7,365.43
589.49
4,924.41
267.49
6,634.28
4,108.95
12.40
+0.32
+76.07
+1.10
-34.92
UNCH
+9.26
-20.23
-0.09
At yesterday’s annual general
meeting, Nestle appointed Tan TURNOVER VALUE
Sri Syed Anwar Jamalullail as 1.963bil RM1.463bil
the new chairman of the board of
director taking over from Tan Sri
Mohd Ghazali Seth, who retired Shares continue uptrend
after having served the company
for the past two decades. SHARE prices on Bursa Malaysia continued its
Syed Anwar currently serves rally for the sixth consecutive day, brushing off
as the chairman and director of fear from the drop in the manufacturing data
EON Bank Bhd. released earlier yesterday, dealers said.
He is also a director of a few Further follow-through buying in Tenaga
public listed companies, among and Bumiputra-Commerce pushed the KLCI 4.6
them, DB-Hicom Bhd, Cahya points higher or 0.481% to 961.28 at close.
Mata Sarawak Bhd and EON MIMB Investment Bank, in its research note,
Capital Bhd. – Bernama said with the volume above one billion shares,
the KLCI bulls are definitely still holding the up-
side technical momentum in the near term.

BNM to revise growth forecast if economy improves in H2
KUALA LUMPUR: Bank Negara
Malaysia (BNM) will revise
growth forecast for the year if the
economy improves in the second
half, its governor, Tan Sri Dr Zeti
Akthar Aziz said yesterday.
BNM has projected the gross
domestic product (GDP) for this
year to be between -1% and 1%.
She said the improvement
would also depend on the
global measures that has been
announced and implemented
give a desirable effect and bring
about stability in the second half
of this year.
“We are experiencing contrac-
tion of the external factor. But
there is still domestic demand
supported by stimulus packages
and easing of monetary policy,”
she told reporters after the launch
of SME Credit Bureau corporate
identity here.
Malaysia’s two stimulus pack-
ages are worth RM67 billion.
Asked on the interest rates,
she said it has already been front
loaded and the central bank
would be monitoring the situa-
tion closely.
BNM has reduced the Over-
night Policy Rate (OPR) to 2%.
She said the issue was not
about the cost of financing but
rather the access to financing.
On the proposal to internation-
alise the ringgit, Zeti said it would
have to be done at the most stable
time and not in uncertain condi-
tions.
“One of the pre-condition
to internationalise (the ringgit)
is a robust and vibrant foreign
exchange market on shore.
“This is yet to be achieved,”
she said.
At 9am yesterday, the local
unit was higher against the
greenback at 3.5845/5895 from
3.6050/6100 qouted at 5pm
yesterday. – Bernama
In terms of fundamentals, investors would
likely await the announcement from the United
States – corporate results and key economic
figures – to be released before weekend.
This will indicate the direction of the
economy in the near future, it said.
Among the active stocks, KNM shed two
sen to 53 sen, Axiata Group-OR added 1.5 sen
to 57.5 sen, Iris Corporation and TA Enterprise-
warrants edged up half sen each to 13 sen and
two sen, respectively.
Top gainers, Petronas Dagangan and Tenaga
Nasional rose 40 sen each to RM8 and RM6.90,
respectively, while British American Tobacco
and Nestle (Malaysia) increased 25 sen each to
RM46 and RM29.50, respectively. – Bernama