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Monday, September 12, 2011
M’sia won’t go bankrupt, says Awang Adek
Friday June 4, 2010
KOTA BAHARU: Malaysia will not go bankrupt in 2019 even if a subsidy totalling RM74bil a year is continued, said Deputy Finance Minister, Senator Datuk Dr Awang Adek Hussein.
He said the country’s economy would not be as bad as it had been portrayed such as not being able to repay its debts should the Government continue its subsidy programme.
The move to cut subsidy was aimed at reducing the country’s deficit rate and ensuring a more stable financial standing for the country, he said after delivering a speech at Universiti Sains Malaysia, Kubang Kerian get-together session here yesterday.
Awang Adek was commenting on the statement by Minister in the Prime Minister’s Department, Datuk Seri Idris Jala, that the country could go bankrupt if the provision of subsidy to the rakyat is continued.
According to Jala, who is also the Prime Minister Department’s Performance Management and Delivery Unit chief executive officer, bankruptcy was possible as Malaysia’s debt was expected to rise to 100% of the gross domestic product in 2019 if the provision of subsidy continues. — Bernama
http://biz.thestar.com.my/news/story.asp?file=/2010/6/4/business/6400949&sec=business
KOTA BAHARU: Malaysia will not go bankrupt in 2019 even if a subsidy totalling RM74bil a year is continued, said Deputy Finance Minister, Senator Datuk Dr Awang Adek Hussein.
He said the country’s economy would not be as bad as it had been portrayed such as not being able to repay its debts should the Government continue its subsidy programme.
The move to cut subsidy was aimed at reducing the country’s deficit rate and ensuring a more stable financial standing for the country, he said after delivering a speech at Universiti Sains Malaysia, Kubang Kerian get-together session here yesterday.
Awang Adek was commenting on the statement by Minister in the Prime Minister’s Department, Datuk Seri Idris Jala, that the country could go bankrupt if the provision of subsidy to the rakyat is continued.
According to Jala, who is also the Prime Minister Department’s Performance Management and Delivery Unit chief executive officer, bankruptcy was possible as Malaysia’s debt was expected to rise to 100% of the gross domestic product in 2019 if the provision of subsidy continues. — Bernama
http://biz.thestar.com.my/news/story.asp?file=/2010/6/4/business/6400949&sec=business
Friday June 11, 2010
Khazanah makes formal offer for Parkway
By TEE LIN SAY
linsay@thestar.com.my
But the S’pore firm’s shares closed above the offered S$3.78 a share yesterday
PETALING JAYA: Khazanah Nasional Bhd formally made an offer to shareholders to acquire 313 million shares of Singapore’s Parkway Holdings at S$3.78 per share. However, Parkway’s share price rose above Khazanah’s offer price yesterday, closing at a 52-week high of S$3.87, amid speculation that a counter bid for Parkway could be in the offing.
Parkway’s shares are up 32% year-to-date and are trading at forward price earnings ratio of 27 times its financial year 2010 earnings, according to Bloomberg data.
Still, that may not stop India’s Fortis Healthcare Ltd from mounting a counter bid for Parkway.
Khazanah last week said its partial general offer for Parkway, which will cost it S$1.8bil (US$835mil), was to bring its shareholding in Parkway to 51.1% from 23%.
In March, Fortis surfaced as Parkway’s single largest shareholder when it bought 23.9% of Parkway from US private equity firm TPG for S$959mil (US$678mil). It subsequently upped that stake to 25.3%. Fortis then appointed its representatives to the chairmanship of Parkway and took three other board seats. Khazanah only has two seats on Parkway’s board.
It has been speculated that Khazanah’s intention is to oust Fortis from controlling Parkway.
Yesterday, Bloomberg reported that Fortis said it was keeping its options open with regard to its strategy on Parkway.
Earlier this week, Fortis said it would be raising US$585mil by issuing securities. Speculation is rife that Fortis is doing this to fund a possible counter bid for Parkway.
A Singapore-based analyst who tracks Parkway feels that Parkway investors may be receptive to Khazanah’s offer.
“In the absence of other catalysts, I think Parkway shareholders should be happy. Parkway’s share price has not appreciated like that in the last two years. This offer also came when markets are tanking, so there is excitement,” she said.
On the issue of Fortis counter-bidding Khazanah, analysts remain uncertain.
“Fortis may not necessarily be building up their war chest to counter-bid Khazanah. Fortis has many other businesses and they have many other things they want to do. Would they also want to put so much money in one asset?” asked another Singapore-based analyst who tracks Parkway.
Fortis is one of the largest hospital chains in India, and its strategic stake in Parkway makes it one of the leading players in Asia.
Its stake in Parkway enables Fortis to establish a Pan-Asian presence increasing its network to 62 hospitals with combined bed strength of over 10,000.
Khazanah, on the other hand, had clearly stated that healthcare was one of its core investment areas. The government investment arm already owns 60% in Pantai Medical Group and a 67.5% stake in private medical college International Medical University.
It also has 12.2% in India’s Apollo Hospitals Ltd, India’s largest private hospital group. Interestingly, Apollo and Fortis are arch-rivals in India, according to news reports.
“Both Fortis and Khazanah want Parkway because it is a valuable franchise. They are not buying it for goodwill. I think some shareholders realise that healthcare is becoming a big play, so will want exposure to this asset. However, they may also decide to accept Khazanah’s offer or any other counter bid as the price looks attractive. These investors can always buy more Parkway shares later, if the price settles down after this tussle,” said one of the Singapore-based analysts.
Khazanah makes formal offer for Parkway
By TEE LIN SAY
linsay@thestar.com.my
But the S’pore firm’s shares closed above the offered S$3.78 a share yesterday
PETALING JAYA: Khazanah Nasional Bhd formally made an offer to shareholders to acquire 313 million shares of Singapore’s Parkway Holdings at S$3.78 per share. However, Parkway’s share price rose above Khazanah’s offer price yesterday, closing at a 52-week high of S$3.87, amid speculation that a counter bid for Parkway could be in the offing.
Parkway’s shares are up 32% year-to-date and are trading at forward price earnings ratio of 27 times its financial year 2010 earnings, according to Bloomberg data.
Still, that may not stop India’s Fortis Healthcare Ltd from mounting a counter bid for Parkway.
Khazanah last week said its partial general offer for Parkway, which will cost it S$1.8bil (US$835mil), was to bring its shareholding in Parkway to 51.1% from 23%.
In March, Fortis surfaced as Parkway’s single largest shareholder when it bought 23.9% of Parkway from US private equity firm TPG for S$959mil (US$678mil). It subsequently upped that stake to 25.3%. Fortis then appointed its representatives to the chairmanship of Parkway and took three other board seats. Khazanah only has two seats on Parkway’s board.
It has been speculated that Khazanah’s intention is to oust Fortis from controlling Parkway.
Yesterday, Bloomberg reported that Fortis said it was keeping its options open with regard to its strategy on Parkway.
Earlier this week, Fortis said it would be raising US$585mil by issuing securities. Speculation is rife that Fortis is doing this to fund a possible counter bid for Parkway.
A Singapore-based analyst who tracks Parkway feels that Parkway investors may be receptive to Khazanah’s offer.
“In the absence of other catalysts, I think Parkway shareholders should be happy. Parkway’s share price has not appreciated like that in the last two years. This offer also came when markets are tanking, so there is excitement,” she said.
On the issue of Fortis counter-bidding Khazanah, analysts remain uncertain.
“Fortis may not necessarily be building up their war chest to counter-bid Khazanah. Fortis has many other businesses and they have many other things they want to do. Would they also want to put so much money in one asset?” asked another Singapore-based analyst who tracks Parkway.
Fortis is one of the largest hospital chains in India, and its strategic stake in Parkway makes it one of the leading players in Asia.
Its stake in Parkway enables Fortis to establish a Pan-Asian presence increasing its network to 62 hospitals with combined bed strength of over 10,000.
Khazanah, on the other hand, had clearly stated that healthcare was one of its core investment areas. The government investment arm already owns 60% in Pantai Medical Group and a 67.5% stake in private medical college International Medical University.
It also has 12.2% in India’s Apollo Hospitals Ltd, India’s largest private hospital group. Interestingly, Apollo and Fortis are arch-rivals in India, according to news reports.
“Both Fortis and Khazanah want Parkway because it is a valuable franchise. They are not buying it for goodwill. I think some shareholders realise that healthcare is becoming a big play, so will want exposure to this asset. However, they may also decide to accept Khazanah’s offer or any other counter bid as the price looks attractive. These investors can always buy more Parkway shares later, if the price settles down after this tussle,” said one of the Singapore-based analysts.
Friday June 11, 2010
Khazanah makes formal offer for Parkway
By TEE LIN SAY
linsay@thestar.com.my
But the S’pore firm’s shares closed above the offered S$3.78 a share yesterday
PETALING JAYA: Khazanah Nasional Bhd formally made an offer to shareholders to acquire 313 million shares of Singapore’s Parkway Holdings at S$3.78 per share. However, Parkway’s share price rose above Khazanah’s offer price yesterday, closing at a 52-week high of S$3.87, amid speculation that a counter bid for Parkway could be in the offing.
Parkway’s shares are up 32% year-to-date and are trading at forward price earnings ratio of 27 times its financial year 2010 earnings, according to Bloomberg data.
Still, that may not stop India’s Fortis Healthcare Ltd from mounting a counter bid for Parkway.
Khazanah last week said its partial general offer for Parkway, which will cost it S$1.8bil (US$835mil), was to bring its shareholding in Parkway to 51.1% from 23%.
In March, Fortis surfaced as Parkway’s single largest shareholder when it bought 23.9% of Parkway from US private equity firm TPG for S$959mil (US$678mil). It subsequently upped that stake to 25.3%. Fortis then appointed its representatives to the chairmanship of Parkway and took three other board seats. Khazanah only has two seats on Parkway’s board.
It has been speculated that Khazanah’s intention is to oust Fortis from controlling Parkway.
Yesterday, Bloomberg reported that Fortis said it was keeping its options open with regard to its strategy on Parkway.
Earlier this week, Fortis said it would be raising US$585mil by issuing securities. Speculation is rife that Fortis is doing this to fund a possible counter bid for Parkway.
A Singapore-based analyst who tracks Parkway feels that Parkway investors may be receptive to Khazanah’s offer.
“In the absence of other catalysts, I think Parkway shareholders should be happy. Parkway’s share price has not appreciated like that in the last two years. This offer also came when markets are tanking, so there is excitement,” she said.
On the issue of Fortis counter-bidding Khazanah, analysts remain uncertain.
“Fortis may not necessarily be building up their war chest to counter-bid Khazanah. Fortis has many other businesses and they have many other things they want to do. Would they also want to put so much money in one asset?” asked another Singapore-based analyst who tracks Parkway.
Fortis is one of the largest hospital chains in India, and its strategic stake in Parkway makes it one of the leading players in Asia.
Its stake in Parkway enables Fortis to establish a Pan-Asian presence increasing its network to 62 hospitals with combined bed strength of over 10,000.
Khazanah, on the other hand, had clearly stated that healthcare was one of its core investment areas. The government investment arm already owns 60% in Pantai Medical Group and a 67.5% stake in private medical college International Medical University.
It also has 12.2% in India’s Apollo Hospitals Ltd, India’s largest private hospital group. Interestingly, Apollo and Fortis are arch-rivals in India, according to news reports.
“Both Fortis and Khazanah want Parkway because it is a valuable franchise. They are not buying it for goodwill. I think some shareholders realise that healthcare is becoming a big play, so will want exposure to this asset. However, they may also decide to accept Khazanah’s offer or any other counter bid as the price looks attractive. These investors can always buy more Parkway shares later, if the price settles down after this tussle,” said one of the Singapore-based analysts.
Khazanah makes formal offer for Parkway
By TEE LIN SAY
linsay@thestar.com.my
But the S’pore firm’s shares closed above the offered S$3.78 a share yesterday
PETALING JAYA: Khazanah Nasional Bhd formally made an offer to shareholders to acquire 313 million shares of Singapore’s Parkway Holdings at S$3.78 per share. However, Parkway’s share price rose above Khazanah’s offer price yesterday, closing at a 52-week high of S$3.87, amid speculation that a counter bid for Parkway could be in the offing.
Parkway’s shares are up 32% year-to-date and are trading at forward price earnings ratio of 27 times its financial year 2010 earnings, according to Bloomberg data.
Still, that may not stop India’s Fortis Healthcare Ltd from mounting a counter bid for Parkway.
Khazanah last week said its partial general offer for Parkway, which will cost it S$1.8bil (US$835mil), was to bring its shareholding in Parkway to 51.1% from 23%.
In March, Fortis surfaced as Parkway’s single largest shareholder when it bought 23.9% of Parkway from US private equity firm TPG for S$959mil (US$678mil). It subsequently upped that stake to 25.3%. Fortis then appointed its representatives to the chairmanship of Parkway and took three other board seats. Khazanah only has two seats on Parkway’s board.
It has been speculated that Khazanah’s intention is to oust Fortis from controlling Parkway.
Yesterday, Bloomberg reported that Fortis said it was keeping its options open with regard to its strategy on Parkway.
Earlier this week, Fortis said it would be raising US$585mil by issuing securities. Speculation is rife that Fortis is doing this to fund a possible counter bid for Parkway.
A Singapore-based analyst who tracks Parkway feels that Parkway investors may be receptive to Khazanah’s offer.
“In the absence of other catalysts, I think Parkway shareholders should be happy. Parkway’s share price has not appreciated like that in the last two years. This offer also came when markets are tanking, so there is excitement,” she said.
On the issue of Fortis counter-bidding Khazanah, analysts remain uncertain.
“Fortis may not necessarily be building up their war chest to counter-bid Khazanah. Fortis has many other businesses and they have many other things they want to do. Would they also want to put so much money in one asset?” asked another Singapore-based analyst who tracks Parkway.
Fortis is one of the largest hospital chains in India, and its strategic stake in Parkway makes it one of the leading players in Asia.
Its stake in Parkway enables Fortis to establish a Pan-Asian presence increasing its network to 62 hospitals with combined bed strength of over 10,000.
Khazanah, on the other hand, had clearly stated that healthcare was one of its core investment areas. The government investment arm already owns 60% in Pantai Medical Group and a 67.5% stake in private medical college International Medical University.
It also has 12.2% in India’s Apollo Hospitals Ltd, India’s largest private hospital group. Interestingly, Apollo and Fortis are arch-rivals in India, according to news reports.
“Both Fortis and Khazanah want Parkway because it is a valuable franchise. They are not buying it for goodwill. I think some shareholders realise that healthcare is becoming a big play, so will want exposure to this asset. However, they may also decide to accept Khazanah’s offer or any other counter bid as the price looks attractive. These investors can always buy more Parkway shares later, if the price settles down after this tussle,” said one of the Singapore-based analysts.
Prinsip meritokrasi bantu usahawan bumiputera
KUALA LUMPUR 10 Jun - Tan Sri Muhyiddin Yassin berkata, kerajaan hanya akan membantu usahawan bumiputera yang benar-benar menunjukkan keupayaan untuk bersaing sepanjang tempoh Rancangan Malaysia Kesepuluh (RMK-10) dilaksanakan.
Timbalan Perdana Menteri berkata, langkah itu sejajar dengan keutamaan RMK-10 yang menjadikan prinsip meritokrasi sebagai syarat paling utama dalam menjayakan agenda pembangunan bumiputera.
Beliau berkata, berbanding sebelum ini usaha untuk memajukan agenda bumiputera tidak memberi penekanan terhadap langkah tersebut hingga menyebabkan berlaku ketirisan serta 'ali baba'.
"Kerajaan tidak mahu menggunakan cara lama seperti sebelum ini yang mana kita lihat ia tidak banyak memberi kesan. Akhirnya kita membuat keputusan untuk bersandarkan pada prinsip meritokrasi.
"Kerajaan mendapati di kalangan pengusaha bumiputera, ada antara mereka yang berkemampuan dan boleh menjadi usahawan yang berjaya.
"Dengan kata lain mereka mempunyai merit. Usahawan seperti ini akan kita dokong sehingga mereka menjadi pemain yang berjaya," katanya kepada pemberita selepas pembentangan RMK-10 oleh Perdana Menteri, Datuk Seri Najib Tun Razak di Dewan Rakyat hari ini.
Beliau berkata demikian ketika ditanya mengenai pengekalan sasaran 30 peratus pemilikan ekuiti korporat bumiputera dan ekonomi di peringkat makro dalam RMK-10.
Menjawab satu soalan, Muhyiddin berkata, setiap usahawan bumiputera yang akan dibantu selepas ini tertakluk pada kriteria serta syarat ditetapkan.
"Ada kriteria tertentu tetapi yang penting mesti ada daya keusahawanan, kemahiran serta mempunyai rekod baik yang baik. Bukannya ali baba,'' tambahnya.
Mengenai majlis peringkat tertinggi untuk merancang, menyelaras dan memantau pelaksanaan agenda pembangunan bumiputera yang akan dipengerusikan oleh Perdana Menteri, beliau berkata, ia bakal melancarkan lagi proses pembangunan tersebut.
Dalam pada itu, beliau berkata, langkah kerajaan meneruskan perjuangan untuk meneruskan agenda tersebut merupakan bukti bahawa kerajaan prihatin dengan pencapaian golongan bumiputera khususnya dalam bidang ekonomi.
"Ini jelas menunjukkan bahawa Perdana Menteri peka dengan pandangan-pandangan daripada masyarakat bumiputera. Kita ambil kira keperluan ini dalam usaha mengurangkan jurang antara pembangunan masyarakat bumiputera dan bukan bumiputera," tambahnya.
KUALA LUMPUR 10 Jun - Tan Sri Muhyiddin Yassin berkata, kerajaan hanya akan membantu usahawan bumiputera yang benar-benar menunjukkan keupayaan untuk bersaing sepanjang tempoh Rancangan Malaysia Kesepuluh (RMK-10) dilaksanakan.
Timbalan Perdana Menteri berkata, langkah itu sejajar dengan keutamaan RMK-10 yang menjadikan prinsip meritokrasi sebagai syarat paling utama dalam menjayakan agenda pembangunan bumiputera.
Beliau berkata, berbanding sebelum ini usaha untuk memajukan agenda bumiputera tidak memberi penekanan terhadap langkah tersebut hingga menyebabkan berlaku ketirisan serta 'ali baba'.
"Kerajaan tidak mahu menggunakan cara lama seperti sebelum ini yang mana kita lihat ia tidak banyak memberi kesan. Akhirnya kita membuat keputusan untuk bersandarkan pada prinsip meritokrasi.
"Kerajaan mendapati di kalangan pengusaha bumiputera, ada antara mereka yang berkemampuan dan boleh menjadi usahawan yang berjaya.
"Dengan kata lain mereka mempunyai merit. Usahawan seperti ini akan kita dokong sehingga mereka menjadi pemain yang berjaya," katanya kepada pemberita selepas pembentangan RMK-10 oleh Perdana Menteri, Datuk Seri Najib Tun Razak di Dewan Rakyat hari ini.
Beliau berkata demikian ketika ditanya mengenai pengekalan sasaran 30 peratus pemilikan ekuiti korporat bumiputera dan ekonomi di peringkat makro dalam RMK-10.
Menjawab satu soalan, Muhyiddin berkata, setiap usahawan bumiputera yang akan dibantu selepas ini tertakluk pada kriteria serta syarat ditetapkan.
"Ada kriteria tertentu tetapi yang penting mesti ada daya keusahawanan, kemahiran serta mempunyai rekod baik yang baik. Bukannya ali baba,'' tambahnya.
Mengenai majlis peringkat tertinggi untuk merancang, menyelaras dan memantau pelaksanaan agenda pembangunan bumiputera yang akan dipengerusikan oleh Perdana Menteri, beliau berkata, ia bakal melancarkan lagi proses pembangunan tersebut.
Dalam pada itu, beliau berkata, langkah kerajaan meneruskan perjuangan untuk meneruskan agenda tersebut merupakan bukti bahawa kerajaan prihatin dengan pencapaian golongan bumiputera khususnya dalam bidang ekonomi.
"Ini jelas menunjukkan bahawa Perdana Menteri peka dengan pandangan-pandangan daripada masyarakat bumiputera. Kita ambil kira keperluan ini dalam usaha mengurangkan jurang antara pembangunan masyarakat bumiputera dan bukan bumiputera," tambahnya.
GDP growth in 2010 exceeded 6%, hints PM
Published: Thursday February 17, 2011 MYT 11:11:00 AM
Updated: Thursday February 17, 2011 MYT 1:07:01 PM
KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak hinted Thursday that the country's Gross Domestic Product (GDP) growth for 2010 may exceed 6%.
The official GDP figures will be announced Friday, he told reporters after officiating a programme to enhance Dewan Negara's activities, at Parliament House here.
Asked if Malaysia was capable of recording double-digit growth in future, Najib, who is also Finance Minister, said: "No, we cannot. Because you must remember that the Malaysian economy is much bigger than it was 20 years ago.
"As we approach to become a matured economy, we cannot get double-digit (growth) but we can get reasonably high. And, I think 6% is considered a very creditable performance.
"We have to be realistic. No developed nation can achieve double-digit."
He also said the country was on track to achieve Vision 2020. - Bernama
http://thestar.com.my/news/story.asp?file=/2011/2/17/nation/20110217112102&sec=nation
Updated: Thursday February 17, 2011 MYT 1:07:01 PM
KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak hinted Thursday that the country's Gross Domestic Product (GDP) growth for 2010 may exceed 6%.
The official GDP figures will be announced Friday, he told reporters after officiating a programme to enhance Dewan Negara's activities, at Parliament House here.
Asked if Malaysia was capable of recording double-digit growth in future, Najib, who is also Finance Minister, said: "No, we cannot. Because you must remember that the Malaysian economy is much bigger than it was 20 years ago.
"As we approach to become a matured economy, we cannot get double-digit (growth) but we can get reasonably high. And, I think 6% is considered a very creditable performance.
"We have to be realistic. No developed nation can achieve double-digit."
He also said the country was on track to achieve Vision 2020. - Bernama
http://thestar.com.my/news/story.asp?file=/2011/2/17/nation/20110217112102&sec=nation
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