Business this week (Mar 16-20)

20 March

- The CPI rose 3.7% in February 2009 y-o-y due to sharp increases in food and non-alcoholic beverages.
- Vehicles sales fell 3% in February or by 1,126 units to 36,675 from January as consumers’ confidence was weighed down by uncertainties
- Bank Negara international reserves fell RM1.9 billion to RM314 billion (US$90.6 billion) as at March 13 from RM315.9 billion (USD91.1 billion) on Feb 27.
- MMC Corp received shareholders approval to acquire Senai Airport Terminal Services for RM1.7 billion. Obtained 97% of shareholders’ votes cast.

19 March

- Public Bank obtained BNM’s approval to issue up to RM5 billion non-cumulative perpetual capital securities.
- SP Setia Bhd's net profit fell 35.8% to RM31.18m in 1QFY09.
- Green Packet subsidiary Packet One Networks awarded RM103.7 million contract to ZTE Malaysia for the second phase of the WiMAX network.
- Malaysia’s manufacturing sector recorded sales value of RM36.7 billion, down 22.7% or RM10.8 billion from a year ago.
- Dell Malaysia offered a VSS to all 5,000 employees in Malaysia to reduce global workforce by 10% or 8,800 jobs.

18 March

- Malayan Banking shares rose to the most in 4 ½ weeks at the midday break on, adding 14 sen to RM4.16.
Maxis Communications Bhd announced plans to invest US$10bn (RM37bn) in its Indian unit Aircel.

17 March

- The Crown Princess Hotel KL to be redesigned and rebranded as the Doubletree by Hilton Kuala Lumpur City Centre.
- SapuraCrest Petroleum secured RM3 billion job to instal offshore facilities at deepwater Gumusut-Kakap oil field, operated by Sabah Shell.
- Human Resources Ministry said 26,000 jobs have been lost in the country since September 2008 and foresees the loss of another 40,000 to 50,000 more jobs this year.
- Kramat Tin Dredging Bhd’s share price plunged 53% by 3pm on March 17 ahead of its impending suspension on March 20.

16 March

- Berjaya Sports Toto posted net profit of RM97.11 million for the third quarter ended Jan 31 compared with RM98.16 million a year ago.
- The Employees Provident Fund (EPF) Board declared a dividend rate of 4.50% for 2008.
- The Malaysian Institute of Economic Research (MIER) forecasts the country’s gross domestic product to contract 3.8% this year.