PARIS: Alstom plans to cut 1,300 jobs worldwide, mainly in Europe, as part of a cost-cutting drive that will see it sell a minority stake in its transport business, chief executive Patrick Kron said on Wednesday.
The group said it planned to raise 1 to 2 billion euros in asset sales by December 2014 after a lack of large orders hit first-half results.
Kron told reporters on a conference call that the company's balance sheet was solid and that it did not need to raise fresh capital.
2013年11月6日星期三
Samsung aims to topple Apple
SEOUL, South Korea: Samsung Electronics Co has a new goal after overtaking Apple in smartphones: it wants to be world No. 1 in tablet computers.
A top executive, Shin Jong-kyun, told analysts on Wednesday that Samsung's tablet business is growing rapidly and the company will become the biggest maker of tablet computers. He didn't give a timeframe.
Shin said Samsung's tablet sales will exceed 40 million units this year, more than double sales in 2012.
Research group IDC estimates that Samsung sold 16.6 million tablets in 2012, lagging far behind Apple Inc which sold 65.7 million iPads.
Apple had more than half of the global tablet market but its dominance has eroded as Samsung boosted sales with cheaper Galaxy Tab computers that offer many different screen sizes
A top executive, Shin Jong-kyun, told analysts on Wednesday that Samsung's tablet business is growing rapidly and the company will become the biggest maker of tablet computers. He didn't give a timeframe.
Shin said Samsung's tablet sales will exceed 40 million units this year, more than double sales in 2012.
Research group IDC estimates that Samsung sold 16.6 million tablets in 2012, lagging far behind Apple Inc which sold 65.7 million iPads.
Apple had more than half of the global tablet market but its dominance has eroded as Samsung boosted sales with cheaper Galaxy Tab computers that offer many different screen sizes
Karex aims to boost condom output
Condom maker Karex Bhd, which made an impressive debut on Bursa Malaysia today at RM2.34 for a 49-sen premium over its offer price of RM1.85, will invest RM100 million to double its production capacity to six billion pieces by end-2015 due to stiff demand.
Chief executive officer, Goh Miah Kiat, said the rising awareness on the importance of condom usage, coupled with the growing global population, will be the main reasons to spark condom demand going forward.
"Condom is the industry where demand keeps growing with a total of 22.8 billion pieces purchased last year. By 2016, it is expected to be 30 billion pieces.
"The demand is growing because of population. We are actually just filling up the demand," he told a media briefing after Karex's debut trading on the Main Market of Bursa Malaysia today.
At the opening bell, some 4.4 million shares were traded.
He said to achieve the target, the world's largest condom maker company will be moving to a new and bigger factory in Pontian and expanding its manufacturing plants in Port Klang and Hat Yai, Thailand.
Goh said through the RM75 million proceeds raised from the listing, Karex will use about RM42 million as capital expenditure to develop the new factory.
"The construction of the new 7.28-hectare factory will begin by early next year and be completed by end-2014.
Karex's products are exported to over 110 countries.
Goh said the company will expand its own brand manufacturing.
"In South-East Asia, our brand is not very well-known in the market. We are present in Malaysia but on a very small scale, similar in Singapore. As for Thailand, we have not penetrated the marekt thus far.
"We have not initiated a big marketing programme yet. But this is one of the areas that we going to do after the listing," he said
Chief executive officer, Goh Miah Kiat, said the rising awareness on the importance of condom usage, coupled with the growing global population, will be the main reasons to spark condom demand going forward.
"Condom is the industry where demand keeps growing with a total of 22.8 billion pieces purchased last year. By 2016, it is expected to be 30 billion pieces.
"The demand is growing because of population. We are actually just filling up the demand," he told a media briefing after Karex's debut trading on the Main Market of Bursa Malaysia today.
At the opening bell, some 4.4 million shares were traded.
He said to achieve the target, the world's largest condom maker company will be moving to a new and bigger factory in Pontian and expanding its manufacturing plants in Port Klang and Hat Yai, Thailand.
Goh said through the RM75 million proceeds raised from the listing, Karex will use about RM42 million as capital expenditure to develop the new factory.
"The construction of the new 7.28-hectare factory will begin by early next year and be completed by end-2014.
Karex's products are exported to over 110 countries.
Goh said the company will expand its own brand manufacturing.
"In South-East Asia, our brand is not very well-known in the market. We are present in Malaysia but on a very small scale, similar in Singapore. As for Thailand, we have not penetrated the marekt thus far.
"We have not initiated a big marketing programme yet. But this is one of the areas that we going to do after the listing," he said
2013年11月5日星期二
Oil prices rise ahead of US stockpiles report
SINGAPORE: Oil prices rose in Asian trade Wednesday but faced pressure from US demand fears and speculation over the future of the Federal Reserve's stimulus programme, analysts said.
New York's main contract West Texas Intermediate (WTI) for December delivery gained 41 cents to US$93.78 a barrel in mid-morning Asian trade, after sinking US$1.25 to close at a five-month low in New York.
Brent North Sea crude for December climbed 45 cents to US$105.78.
"Investors will be closely watching the EIA (Energy Information Administration) stockpile numbers out later Wednesday that is likely to show a further supply surge in the US internal market," David Lennox, resource analyst at Fat Prophets in Sydney, told AFP.
"Investors have gotten somewhat used to the high stockpile numbers in the US, but we have also seen the WTI come off weaker when there is a drastic increase, such as immediately after the summer driving season."
The EIA is expected to report US supplies increased 1.9 million barrels in the week ending November 1, according to analysts polled by Dow Jones Newswires.
Inventories in the United States have risen for the past six weeks, to about 28 million barrels, raising concerns about oversupply in the world's largest economy and top crude consumer.
Lennox added that market was also looking ahead to Thursday's release of US third-quarter gross domestic product (GDP) advanced estimates.
The result will give investors a better idea about the Fed's plans for its stimulus programme, with strong growth expected to tilt the bank towards an earlier wind down.
Upbeat US service sector data Wednesday added to expectations it will start cutting back on its US$85 billion-a-month bond buying either next month or early next year.
The central bank has previously said any pullback on the scheme — credited with helping prop up global equity markets — hinges on a firm US economic recovery.
Any tapering would likely send the greenback higher, in turn making dollar-priced oil more expensive to people using other currencies.
New York's main contract West Texas Intermediate (WTI) for December delivery gained 41 cents to US$93.78 a barrel in mid-morning Asian trade, after sinking US$1.25 to close at a five-month low in New York.
Brent North Sea crude for December climbed 45 cents to US$105.78.
"Investors will be closely watching the EIA (Energy Information Administration) stockpile numbers out later Wednesday that is likely to show a further supply surge in the US internal market," David Lennox, resource analyst at Fat Prophets in Sydney, told AFP.
"Investors have gotten somewhat used to the high stockpile numbers in the US, but we have also seen the WTI come off weaker when there is a drastic increase, such as immediately after the summer driving season."
The EIA is expected to report US supplies increased 1.9 million barrels in the week ending November 1, according to analysts polled by Dow Jones Newswires.
Inventories in the United States have risen for the past six weeks, to about 28 million barrels, raising concerns about oversupply in the world's largest economy and top crude consumer.
Lennox added that market was also looking ahead to Thursday's release of US third-quarter gross domestic product (GDP) advanced estimates.
The result will give investors a better idea about the Fed's plans for its stimulus programme, with strong growth expected to tilt the bank towards an earlier wind down.
Upbeat US service sector data Wednesday added to expectations it will start cutting back on its US$85 billion-a-month bond buying either next month or early next year.
The central bank has previously said any pullback on the scheme — credited with helping prop up global equity markets — hinges on a firm US economic recovery.
Any tapering would likely send the greenback higher, in turn making dollar-priced oil more expensive to people using other currencies.
'Malaysia's Vision 2020 on track'
NEW YORK: Malaysia's surge from once a nascent developing
economy to what it is now is described by some US experts as an "advanced emerging economy", is a reminder that the country is transiting to becoming a full developed nation by the year 2020, a goal that is embedded in the Malaysian government's Vision 2020.
The level of development and sophistication characterising Malaysia's economy today was also highlighted by Datuk Seri Abdul Wahid Omar, the Minister in the Prime Minister's Department, who is currently visiting New York with a
delegation of 14 Malaysian companies showcased under the Invest Malaysia USA (IMUS) 2013 roadshow to attract portfolio investors from the United States to Malaysia's capital market.
Abdul Wahid is also accompanied by Datuk Tajuddin Atan, the chief executive officer of Bursa Malaysia, and Datuk Abdul Farid Alias, president and chief executive officer of the Maybank Group.
Maybank, Malaysia's largest bank, has organised IMUS 2013 in collaboration with Bursa Malaysia.
"In line with the goal of making Malaysia a developed country by 2020, we underlined our objectives to increase the country's per capita income from US6,750 to US$15,000 in 2020.
Currently, we are around US$10,000 and are on track to achieving the US$15,000 income target by 2020. This is an all-inclusive income growth we are trying to achieve," Abdul Wahid said in an interview with Bernama in New York.
Abdul Wahid, who is rated as one of Malaysia's leading financial experts and was the president and chief executive officer of the Maybank Group before he was appointed the Minister in the Prime Minister's Department, reinforced the Malaysian government's "deep commitment" to improving the earnings of all Malaysians, including the low-income earning Malaysians.
"Our goal will be to achieve sustainability. By sustainability, we do not just mean the environment-friendly and judicious use of the country's natural resources such as oil and gas, but also the overall economic management of the country.
"Our guiding principle is to ensure Malaysia's economic growth, yet at the same time not lose sight of our economic responsibility to reduce the budget deficit and achieve a balanced budget by the year 2020," he explained.
Abdul Wahid spoke of the "dramatic transformation" of Malaysia's economy which had moved from an agro-based through manufacturing to a services economy.
"The services sector contributed about 55 per cent to the economy and has exceeded the manufacturing sector," he said.
Highlighting the positive attributes of Malaysia's corporate sector, Abdul Wahid said Malaysian companies are better capitalised today, their debt levels are much lower than in 1997/98, when the devastating financial crisis enveloped
a number of Southeast Asian countries, and their borrowings are in ringgit rather than in US dollars, thus cushioning them against forex volatility.
"The size of our international reserves then were between US$19 billion and US$30 billion. Today the reserves are around US$106 billion," he said.
With the formation of the Asean Economic Community in 2015, Abdul Wahib said that he was a "great believer in the Asean story".
"I believe that the Asean leaders are committed to the Asean goals. Malaysian companies are successfully operating in the Asean region and this will, invariably, give American companies many advantages, including accessibility to a US$2 trillion capital market," he stressed.
The 2014 budget, announced on October 25, has been the "most anticipated budget in Malaysia's history". The budget's emphasis was on sustainability, strengthening economic resilience, accelerating transformation of the country to a developed
nation and fulfilling the promises made to the electorate in the run-up to the May 5 general election.
To illustrate the government's "economic responsibility", Abdul Wahib said the budget deficit this year was around four per cent. "This (deficit) will be progressively reduced to 3.5 per cent in 2014 and three per cent in 2015.
"Thereafter, we will keep reducing the deficit until we reach a balanced budget by 2020," Abdul Wahid said.
In the balance-of-payment account, Malaysia is projected to have a surplus of RM25 billion this year. However, the payment account surplus was narrowing down attributed mainly to lower exports, rise in imports, particularly involving big-ticket purchases such as large commercial aircraft by the airlines.
Abdul Wahid, who also addressed a gathering of fund managers in New York in the presence of the Malaysian Permanent Representative to the United Nations, Datuk Hussein Haniff and the Malaysian Consul-General in New York, Syed Bakri Syed Abdul Rahman, said the government would be embarking on an "ambitious
infrastructure project", the biggest mass development Project, which will be "at par with many international cities".
Facing shortage of experts and skilled labour, Malaysia is also trying to lure back Malaysian experts who work abroad.
"We are keen to attract Malaysian expats living abroad to return to Malaysia and provide their expertise in their area of specialisation," he added.-
economy to what it is now is described by some US experts as an "advanced emerging economy", is a reminder that the country is transiting to becoming a full developed nation by the year 2020, a goal that is embedded in the Malaysian government's Vision 2020.
The level of development and sophistication characterising Malaysia's economy today was also highlighted by Datuk Seri Abdul Wahid Omar, the Minister in the Prime Minister's Department, who is currently visiting New York with a
delegation of 14 Malaysian companies showcased under the Invest Malaysia USA (IMUS) 2013 roadshow to attract portfolio investors from the United States to Malaysia's capital market.
Abdul Wahid is also accompanied by Datuk Tajuddin Atan, the chief executive officer of Bursa Malaysia, and Datuk Abdul Farid Alias, president and chief executive officer of the Maybank Group.
Maybank, Malaysia's largest bank, has organised IMUS 2013 in collaboration with Bursa Malaysia.
"In line with the goal of making Malaysia a developed country by 2020, we underlined our objectives to increase the country's per capita income from US6,750 to US$15,000 in 2020.
Currently, we are around US$10,000 and are on track to achieving the US$15,000 income target by 2020. This is an all-inclusive income growth we are trying to achieve," Abdul Wahid said in an interview with Bernama in New York.
Abdul Wahid, who is rated as one of Malaysia's leading financial experts and was the president and chief executive officer of the Maybank Group before he was appointed the Minister in the Prime Minister's Department, reinforced the Malaysian government's "deep commitment" to improving the earnings of all Malaysians, including the low-income earning Malaysians.
"Our goal will be to achieve sustainability. By sustainability, we do not just mean the environment-friendly and judicious use of the country's natural resources such as oil and gas, but also the overall economic management of the country.
"Our guiding principle is to ensure Malaysia's economic growth, yet at the same time not lose sight of our economic responsibility to reduce the budget deficit and achieve a balanced budget by the year 2020," he explained.
Abdul Wahid spoke of the "dramatic transformation" of Malaysia's economy which had moved from an agro-based through manufacturing to a services economy.
"The services sector contributed about 55 per cent to the economy and has exceeded the manufacturing sector," he said.
Highlighting the positive attributes of Malaysia's corporate sector, Abdul Wahid said Malaysian companies are better capitalised today, their debt levels are much lower than in 1997/98, when the devastating financial crisis enveloped
a number of Southeast Asian countries, and their borrowings are in ringgit rather than in US dollars, thus cushioning them against forex volatility.
"The size of our international reserves then were between US$19 billion and US$30 billion. Today the reserves are around US$106 billion," he said.
With the formation of the Asean Economic Community in 2015, Abdul Wahib said that he was a "great believer in the Asean story".
"I believe that the Asean leaders are committed to the Asean goals. Malaysian companies are successfully operating in the Asean region and this will, invariably, give American companies many advantages, including accessibility to a US$2 trillion capital market," he stressed.
The 2014 budget, announced on October 25, has been the "most anticipated budget in Malaysia's history". The budget's emphasis was on sustainability, strengthening economic resilience, accelerating transformation of the country to a developed
nation and fulfilling the promises made to the electorate in the run-up to the May 5 general election.
To illustrate the government's "economic responsibility", Abdul Wahib said the budget deficit this year was around four per cent. "This (deficit) will be progressively reduced to 3.5 per cent in 2014 and three per cent in 2015.
"Thereafter, we will keep reducing the deficit until we reach a balanced budget by 2020," Abdul Wahid said.
In the balance-of-payment account, Malaysia is projected to have a surplus of RM25 billion this year. However, the payment account surplus was narrowing down attributed mainly to lower exports, rise in imports, particularly involving big-ticket purchases such as large commercial aircraft by the airlines.
Abdul Wahid, who also addressed a gathering of fund managers in New York in the presence of the Malaysian Permanent Representative to the United Nations, Datuk Hussein Haniff and the Malaysian Consul-General in New York, Syed Bakri Syed Abdul Rahman, said the government would be embarking on an "ambitious
infrastructure project", the biggest mass development Project, which will be "at par with many international cities".
Facing shortage of experts and skilled labour, Malaysia is also trying to lure back Malaysian experts who work abroad.
"We are keen to attract Malaysian expats living abroad to return to Malaysia and provide their expertise in their area of specialisation," he added.-
FTSE Bursa Malaysia update: 10.30am
At 10.30am today, there were 238 gainers, 306 losers and 265 counters traded unchanged on the Bursa Malaysia.
The FBM-KLCI was at 1,804.65 down 2.82 points, the FBMACE was at
5,831.19 up 28.94 points, and the FBMEmas was at 12,555.09 down 16.21 points.
Turnover was at 861.085 million shares valued at RM549.529 million.
The FBM-KLCI was at 1,804.65 down 2.82 points, the FBMACE was at
5,831.19 up 28.94 points, and the FBMEmas was at 12,555.09 down 16.21 points.
Turnover was at 861.085 million shares valued at RM549.529 million.
Gold futures open slightly higher
Gold futures contracts opened slightly higher on Bursa Malaysia Derivatives, supported by buying interest across-the-board, a dealer said.
As at 9.26am, December 2013 gained two ticks to RM134.90, with 16 lots traded.
Open interest stood at 474 contracts.--
As at 9.26am, December 2013 gained two ticks to RM134.90, with 16 lots traded.
Open interest stood at 474 contracts.--
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