Business Times : frontpage
Tuesday, February 07, 2012, 01.44 AM



ECER eyes RM10b investments (Feb 6)
Its industrial parks located within the Special Economic Zone (SEZ) are expected to drive these billion-ringgit investments. The SEZ will be "our jewel in the crown" in Malaysia, says ECER Council (ECERC) chief executive officer Datuk Jebasingam Issace John. "We expect the investments to come on board by the third quarter," he disclosed in an interview with the Business Times. The risks of the slowing investment flow from Europe may impact Malaysia as a whole in 2012, but John says the ECER has the added advantage of having caught the attention of the Chinese, Koreans and Japanese, who are also being encouraged to look abroad. Its location is an advantage, which would benefit China's investing community. Among the most recent influx of investments totalling close to RM5 billion include a RM2 billion industrial biotechnology investment in CJ-Arkema, a joint venture between a South Korean and French company, as well as Wenzhou Foreign Trade and Economic Cooperation Bureau's plan ...


Dr M: Proton reserves fall from RM4b to RM600m (Feb 6)
He said that Tengku Tan Sri Mahaleel Tengku Ariff had accumulated some RM4 billion when he was the chief executive officer (CEO) of the company. Of the amount, RM1.8 billion was spent on Proton's Tanjung Malim plant. "When Tengku Mahaleel left Proton in 2005, some RM2.4 billion was left to the new management led by Datuk Mohammed Azlan Hashim," Dr Mahathir said in a statement released through the Proton adviser's office yesterday. Dr Mahathir said by the end of 2008, when Mohamed Azlan stepped down as chairman, Proton was left with only RM1.2 billion. This, he said, was "due to losses sustained during this period, and partly contributed by the sale of MV Agusta for ¤1 (RM3.97), which Proton had bought for some RM300 million". Proton sold all its 57.7 per cent stake in Italian motorcycle maker MV Agusta to littleknown Gevi Spa in June 2006. In return, Gevi took over the motorcycle maker's restructured frozen debts amounting to ¤106.9 million (RM424.39 million) and working capit...