JULY – SEPTEMBER 2007

 

QUARTERLY

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              Malaysian Tin Products

 

 

MANAGEMENT COMMITTEE

FOR YEAR 2006/2007      

                                                                                  

PRESIDENT MR. MAMORU KAWASAKI (ALTERNATE – MR. LOH YOON SOON) SELAYANG SOLDER SDN BHD   VICE-PRESIDENT MR. TEOH LAY HOCK NIHON SUPERIOR (M) SDN BHD   HON. SECRETARY MR. C.S. LIM METAL RECLAMATION (IND) SDN BHD   TREASURER MR. JASON LEE HENKEL (MALAYSIA) SDN BHD		Letters to the Editor are welcomed.  We appreciate your feedback to further improve our editorial content. Please address your letters to:   The Editor The Malaysian Tin Products Newsletter P O Box 12560 50782 KUALA LUMPUR.
COMMITTEE MEMBERS MR. CHEN TIEN YUE ROYAL SELANGOR INTERNATIONAL SDN BHD   EN. AB. PATAH MOHD PERUSAHAAN SADUR TIMAH MALAYSIA (PERSTIMA) BHD   MR. KOJI TSUBONO SENJU (M) SDN BHD		SECRETARIAT ADDRESS The Malaysian Tin Products Manufacturers’ Association (MTPMA) 8th Floor, West Block  Wisma Selangor Dredging 142-C, Jalan Ampang 50450 KUALA LUMPUR.
EDITORIAL SUB-COMMITTEE MR. MAMORU KAWASAKI MR. LOH YOON SOON MR. TEOH LAY HOCK MR. C.S. LIM MR. JASON LEE MR. CHEN TIEN YUE TN. HAJI MUHAMAD NOR MUHAMAD		Tel:       03 – 21616171 Fax:       03 – 21616179 Email: mtpmasec@mtpma.org.my     The Malaysian Tin Products Newsletter is published quarterly by the Malaysian Tin Products Manufacturers’ Association (MTPMA). The opinion and statements expressed in the Newsletter are not necessarily those of the MTPMA or the Editorial Sub-Committee and neither endorsement nor confirmation are intended or implied.

 

 

 

 

Dear Members,

 

As the third quarter draws to a close, I’ m glad to note from recent news that Malaysia’s GDP growth is forecasted to grow 5.7 per cent this year, marginally up from 5.5 per cent estimated earlier. At the same time, I am sad to note that the electronics industry is experiencing a downturn presently. The moribund electronics industry is a dampener on the country’s production and shipments of electrical and electronic (E&E) products, which account for 41% of Malaysia’s manufacturing output and half of Malaysia’s total exports.

 

The world economy is currently growing at a moderate pace. After a robust growth in 2006, the US economy is slowing down in 2007 due to the downturn in the housing market and cautious consumer spending. The impact of a slower US economic growth on Malaysia’s export performance is greatly felt as E&E accounts for 80% of Malaysia’s exports to the US.

 

The Semiconductor Industry Association (SIA) expects 2007 global chip sales growth to decelerate sharply to 1.8% (2006: +8.9%). The Ministry of Finance in its Economic Report 2007/2008 reported that output of the E&E sector declined by 5.6% for the January to June period this year compared with the same period in 2006. The manufacturing sector grew 7.1% in 2006 compared with the expected growth of 3.1% for 2007.

 

As a highly trade dependent economy, Malaysia’s growth prospect critically depends on the trends in the global economy and the electronics industry cycle. If the US economy deteriorates or the electronics sector remains sluggish, Malaysia’s growth could be adversely affected.  With sound economic fundamentals in place and the US dollar depreciating, the ringgit is expected to appreciate further. Stabilising the ringgit and minimising the adverse impact of a strong currency on Malaysia’s export competitiveness is likely to be a great challenge over the near term.

However, not all is gloom as the Malaysian economy is expected to expand further in 2008, with real gross domestic product (GDP) growth projected at between 6% and 6.5%. This growth is expected to be strongly led by the services and the construction sectors.

 

As for the manufacturing sector, it is expected to pick-up pace to expand 3.8% in 2008 on the back of an anticipated recovery in the global electrical and electronics industry.  Compared to the heydays of the 1990s where the manufacturing sector consistently registered double-digit growth, this is a small expansion. Yet, in the face of stiffer economic condition and competition today, this may afford us precious time to strengthen and re-invent ourselves to move into higher value-added activities in the E & E value chain.

 

Regards.

 

Mamoru Kawasaki

PRESIDENT

 

 

ELECTRICAL & ELECTRONICS INDUSTRY NEWS

 

 

Bullish Outlook for Consumer Electronics

Manufacturers of consumer electronic components and parts can look forward to good times given the robust growth of the global consumer electronics sector.  “Consumer electronics will continue to be a prime mover for Malaysia’s electrical and electronic (E&E) exports over the next two years,” an analyst from a bank-back brokerage told StarBiz.

 

According to the Statistics Department, E&E products remained Malaysia’s largest export contributor from January to May, with receipts of RM104.1bil or 44.5% to the country’s total export revenue.  Analysts said Mesdaq-listed Notion Vtec Bhd and MQ Technology Bhd were among the companies that had benefited from the demand growth in consumer electronic products. Both companies are involved in the manufacturing of precision-engineered components for the hard disk drive (HDD) industry. 

 

Standard & Poor’s (S&P) in a recent note said Notion’s first quarter net profit of RM7.6mil was slightly above its expectations, accounting for 28% of its full year estimate.  “The variance was due to a stronger-than-expected margin, driven by a surge in sales of higher margin camera components as manufacturers ramped up orders ahead of the year-end peak sales season,” it said. The brokerage expects Notion to record earnings growth of 12% to 13% per annum for financial year ending Sept 30, 2007 (FY07) and FY08 on growing demand for HDD products and digital SLR cameras.  S&P has downgraded its “strong buy” recommendation to “buy” given the reduced upside to its unchanged 12-month target price of 57 sen.

 

SBB Securities senior analyst Ng Jun Sheng however, has a higher 12-month target price of 65 sen for Notion.  “It’s an undervalued stock.  The appetite for technology stocks has been dampened by interest in blue chips for a while but interest is returning to lower liners,” he said in an interview.  He said Notion had performed well despite the strengthening of the ringgit, which had been perceived as having a negative impact on the earnings of export-based companies. 

 

MQ meanwhile, has set bullish internal annual targets for this year.  It expects to achieve about 40% to 50% growth in revenue and profits based on increased production capacity and expected rise in customer orders.  S&P in a July 6 note said it was maintaining a “buy” call on MQ and raised its 12-month target price by 4 sen to 33 sen.

 

The brokerage has revised MQ’s 2007 net profit forecast to RM8.5mil and also set 2008 net profit forecast at RM9.2mil.  SBB’s Ng said MQ’s share price was undervalued despite the company’s good growth prospects.  “MQ’s advantage is its presence in Thailand, which is viewed as a hub for HDD products in the Asean region,” he said.

 

(Source: The Star, 14 July 2007)

 

 

Electronics Sector in for Better H2

After two quarters of sluggish sales, the electronics industry in Malaysia is experiencing an increase in the orders for its products for the second half of 2007, as reflected in the worldwide rise in the sales of semiconductors in July.  Global sales of semiconductors totalled about US$20.6bil in July, a 3.2% jump from the previous month and an increase of 2.2% against the same month last year.

 

The US-based Semiconductor Industry Association (SIA) recently reported that despite the intense pressure that the industry experienced early in the year, worldwide chip sales were on track to achieve its forecast 1.8% growth this year.  Gartner, a US-based research house, is slightly more optimistic, forecasting global semiconductor revenue to grow 2.5% to US$269bil this year.  For 2008, it projected revenue to rise 8.7% to US$293bil. It expects the compounded annual growth rate (CAGR) for 2006 to 2011 to be around 5.1%. 

 

Malaysian American Electronics Industry (MAEI) chairman Datuk S.H. Wong told StarBiz the growth in the second half would be driven by the increase in the sales of microprocessors, MOS logic devices, and NAND flash memory products.  “MAEI members are now trying to increase production to meet the higher volume of orders for the second half.  There are higher sales in the third and fourth quarters due to back-to school sales of computers and demand for trendy consumer electronic products for the festive seasons,” he said.

 

Eng Teknologi Holdings Bhd is doubling its production of hard disk drive base plates to 60 million units per annum from now till next August, compared with 30 million produced last year, to meet rising global demand of computer products.  Group executive chairman Datuk Alfred E.L. Teh said that this year, global sales of hard disk drive base plates would hit 502 million units, a 15% growth compared with 435 million units last year. “This is according to the US-based research house TrendFocus report, which expects the global sales to reach 575 million units in 2008,” he added.  Teh, quoting the TrendFocus’ report, said the global sales of hard disk drives for the first half of 2007 hit 224 million units, although the demand for hard disk drives weakened during the period.  “Thus we are confident that global sales can easily hit 502 million units by year end,” he added.

 

Teh said the group was also boosting its production of actuators to 50 million unit per year from now till next August, compared with fewer than 20 million produced last year, because of orders from two more customers.  “One of the customers is from the US, while the other is from Japan.  Last year, our production of actuators was down because we lost Maxtor Corp as a customer,” he noted.  Maxtor Corp was sold to Seagate in early 2006. Teh said the additional orders for the group’s hard disk drive base plates and actuators would translate into stronger revenue and profitability from the second half of 2007.  “Because of the larger volume of orders in hand, we are now able to produce more cost-effectively, allowing us to attain economies of scale in production and hence generating better margins,” he said.

 

According to MEMS Technology Bhd director B.L. Ooi, for its fourth quarter ended July 31, the group is expected to report a sales growth of more than 20% over the third quarter.  “This is due to strong orders for our pressure sensors and initial volume shipment of our patented silicon microphones,” he said.  “We continue to see moderate to strong growth for our products.  Orders for our silicon microphones are encouraging, with one customer paying in advance to jump the order queue.”

 

Penmaster Corp Bhd expects 20% to 30% increase in orders for its automated semiconductor equipment such as material test handlers, laser-marking handlers, and tape and reel machine in this quarter compared with the first two quarters.  “We expect more orders to come for the fourth quarter,” he said.  Chuah said that in this quarter and the next, orders for the group’s other electronic product such as light-emitting diode (LED) test handlers and oven substrate tester for LEDs were expected to grow by about 30% compared with the first two quarters of 2007.  “The first two quarters of 2007 saw an oversupply of semiconductors and consumer electronic products, slowing down production and bringing balance back in the inventories,” he said.

 

(Source: The Star, 10 September 2007)  

 

 

 

ECONOMIC NEWS 

 

May Export Growth Beats Expectations

Malaysian exports beat market expectations and surged strongly in May on stronger growth led by the crude petroleum, optical and scientific equipment, and liquefied natural gas (LNG) sectors.  Exports expanded 2.7 per cent year-on-year in May, while imports recorded an increase of 3.5 per cent from a year ago, the Ministry of International Trade and Industry (MITI) revealed yesterday.  The stronger export growth led to a trade surplus of RM7.89 billion in May, while total trade expanded 3.1 per cent from last year’s.  Economists polled earlier by Business Times had expected exports to register 0.97 per cent growth year-on-year and imports to grow 3 per cent year-on-year, bringing in an average trade balance of RM7.26 billion.

 

Citigroup Asia-Pacific economics and market analysis director Dr Chua Hak Bin attributed the improvement in exports largely to the increase in commodities shipment.  “Rising demand for commodities, especially palm oil and crude oil, from China and other Asian economies has led to a surge in LNG and white palm oil shipments,” he said, adding that exports of machinery and parts as well as manufactured metal, optical and scientific equipment also rose.

 

Chua cautioned, however, that technology exports had remained soft.  Electrical and electronics exports fell 2.1 per cent year-on-year due largely to falling demand from the US.  “The manufacturing slowdown appears more protracted in Malaysia than other Asian countries,” he said, adding that a disappointing round of industrial production numbers in May may mean a downgrade in the gross domestic production forecast.

 

Asean, the US, the European Union, Japan, China, Hong Kong and South Korea were the top export markets, accounting for 81.3 per cent of total exports in May.  The Asean market absorbed 24.6 per cent of total exports.  In the first five months of the year, significant expansion was recorded in markets like China (28.6 per cent increase), the Middle East (20 per cent), India (13.2 per cent) and South Korea (12.7 per cent).  MITI said imports by end-use for May showed those of intermediate goods were worth RM29.92 billion, or 71.8 per cent of total imports, followed by capital goods (RM5.85 billion, or 14 per cent of total imports).   

 

(Source: New Straits Times, 5 July 2007) 

 

 

MIER Sees Higher GDP Growth of 5.7%

The Malaysian Institute of Economic Research (MIER) has raised its gross domestic product (GDP) growth forecast for this year to 5.7% from5.6% previously.  The marginal increase was partly due to the country’s positive business and consumer sentiments and sound economic fundamentals, it said in its quarterly report released yesterday.  MIER said although the external sector currently appeared “soft”, there were mitigating factors that could potentially “counteract” the negative factors.

 

It cited the country’s relatively low inflation rate, good progress being made in rolling out Ninth Malaysia Plan (9MP) projects, higher investment approvals and recent policy initiatives such as the scrapping of real property gains tax as the factors that would continue to support growth.  “As a highly trade-dependent economy, Malaysia’s growth prospects critically depend on the trends in the global economy and the electronics cycle.  If the US economy deteriorates or the electronics sector remains sluggish, Malaysia’s growth could be adversely affected,” it said.

 

MIER said a resilient domestic demand could partially cushion the external weakness, adding that the construction sector would be buoyed by 9MP projects while the commodity sector would benefit from firm prices.  It expects the private sector to be the key growth driver this year, with the public sector continuing to play a vital role.  On the supply side, all major sectors were projected to register growth this year, with the services and manufacturing sectors being the main drivers.

 

The institute expects Malaysia’s inflation rate to ease to 2.4% this year from 3.6% last year, driven by a stronger ringgit.  MIER has also forecast a GDP growth of 5.8% next year, assuming that the US dollar undergoes an orderly correction, oil prices remain stable and domestic demand be “propped up somewhat” prior to the general election.  In comparison, the government’s GDP growth target for this year is 6%.

 

Meanwhile, in her speech delivered by Finance Ministry deputy secretary-general Ibrahim Mahaludin Puteh at MIER’s national economic briefing yesterday, Deputy Finance Minister Datuk Dr Ng Yen Yen said the Government was confident the economy “will post 6% growth this year, as forecast by Bank Negara.”  She said the country’s pragmatic and timely macroeconomic policies, high level of foreign exchange reserves and a healthy financial sector were expected to see the economy through global risks to its growth prospects.

 

(Source:  The Star, 18 July 2007) 

 

 

RM3.36 vs US Dollar Seen by Year’s End

The ringgit is expected to appreciate to 3.36 against the dollar by year-end from RM3.44 currently, according to foreign exchange expert.  The local currency is forecast to strengthen further to 3.33 in the first quarter and 3.30 in the second quarter of 2008.  “We are bullish with the medium-term prospects of the ringgit given its attractive valuations and Malaysia’s huge current account surplus,” said Standard Chartered Bank senior FX Strategist, Global Research, Thomas Harr.

 

The banking group has pegged the 12-month forward rate for ringgit at 3.42.  Harr is also bullish on the mid-term outlook for other Asean currencies like the Philippine peso and Singapore dollar but neutral on the Indonesian rupiah.  However, the Thai baht and Vietnam dong were expected to remain bearish, he told reporters after a briefing organised by Standard Chartered Bank Malaysia Bhd yesterday.

 

In the short term, Harr said, the ringgit and other Asean currencies like the dollar, rupiah and peso would be pressured by the fall in global risk appetite, mainly depressed by the US subprime mortgage crisis, which could get worse in the near term.  He said Malaysia, Singapore, Hong Kong and Taiwan were currently considered as “vulnerable” markets with open risks, given their high export exposure to the US. “The recent weaker exports by Malaysia and Singapore reflect some slowdown in the US of new orders of personal computers and electronic products,” he added.  Harr added that both hedge funds and global investors were likely to stay on the sidelines in the short term as “their positions are stretched and vulnerable to risk.”

 

On the global economic outlook, StanChart FX Strategy head Callum Henderson said global economic growth was gradually slowing down after registering the strongest growth over the past four decades. He said although global inflation was still benign, global monetary indicators suggested that there were risks in money supply trend in the G-15 grouping.  Henderson said China and Japan were the global liquidity providers while the US remained as important final destination for global demand.  On the dollar, he said:  “The current weak greenback may experience a temporary rally between the final quarter 2007 and in the first quarter of 2008 if the US Federal Reserve decides to lower interest rates to manage the sub-prime loans issue.”

 

(Source: The Star, 9 August 2007)

 

 

‘6pc Growth Target can be Achieved’

The Government is confident of achieving the six per cent economic growth projected this year, said Second Finance Minister Tan Sri Nor Mohamed Yakcop.  He said he continued to remain optimistic on the country’s economy despite a potential slowdown in the US and the world economy which could dampen demand for Malaysia’s exports.  He pointed out that Malaysia’s economy has diversified over the years and is now less dependent on exports.

 

“Today, domestic investment and domestic consumption are equally important factors.  And in the context of any slow down in the global environment, we have the flexibility to kick the momentum of growth in the economy.  We have the lever.  So, yes, we are confident (of achieving the targeted growth),” Nor Mohamed said at the Khazanah National Development Seminar in Kuala Lumpur yesterday.  He had pointed out that Malaysia’s exports and imports as a percentage of gross domestic product stood at about 200 per cent – higher than other economies, with the exception of Singapore and Hong Kong.

 

“No other country in the world has such a high percentage…the rest is below 50 per cent.”  Nor Mohamed said that trade and globalisation were key factors to help further reduce poverty in the country.  “We will continue to harness globalisation so we get the best of it but at the same time protect our sovereignty and ensure that everyone, regardless of race, benefits from this,” he said.

 

(Source: New Straits Time, 5 September 2007)

 

 

Manufacturers Hail Measures but Cautious on Outlook

The Federation of Malaysian Manufacturers (FMM) welcomes a number of new and innovative measures in Budget 2008 but is cautious about the manufacturing sector’s outlook.  FMM chairman Tan Sri P.K. Yong pointed out that manufactured exports performance should be weaker this year given the intense competition in the global market.  The Government, he noted, had forecast manufactured exports to grow only 2.1 per cent this year, a big drop from the 10.1 per cent expansion in 2006.

 

“There is an urgency to improve manufacturing efficiency, especially in terms of curbing the rising cost of doing business,” Yong said at a press conference on Budget 2008 yesterday.  He added that a key concern for the sector was the availability of natural gas at stable prices to enhance the players’ cost-competitiveness.  “The manufacturing sector has to increase investments to produce more innovative and higher-end products in view that emerging and low-cost countries have distinct comparative advantages over Malaysia in the production of the lower-technology and traditional products,” Yong said.

 

FMM vice-president Datuk Paul Low said a big issue for local manufacturers in the next one to two years is to restructure themselves to produce different higher value-added products than their regional counterparts.  FMM lauded the further reduction of corporate tax to 25 per cent in 2009 and said that the single-tier system would simplify the distribution of dividends.  It feels that a concurrent cut in personal income taxation should have been given to help increase domestic consumption, especially in view of the weaker external sector.

 

“Currently, the personal income tax rate is higher than the corporate tax i.e at 27 per cent, and the tax bands are too tight.  “Tax payers hit the higher and maximum tax bands very fast and this is a disincentive to knowledge workers,” Yong said.

 

(Source: New Straits Times, 8 September 2007)

 

 

MEMBERS NEWS 

 

Perstima Spending RM20mil to Upgrade Plant

Perusahaan Sadur Timah Malaysia Bhd (Perstima) will invest RM20mil to upgrade its tinplate plant in Vietnam, which will also produce tin free steel (TFS).  Chairman Tan Sri Ab. Rahman Omar said the production of TFS was expected to commence by March.  Perstima spend RM25mil to upgrade its tinplate plant in Pasir Gudang, Johor, which was completed last week.  “By the first quarter next year, we expect total tinplate, including TFS production, to reach 320,000 tonnes a year from 270,000 tonnes currently,” Rahman told StarBiz after the company AGM yesterday.  “We will be in a better position to capture new markets and maintain competitive pricing with the completion of the upgrading at our Malaysia and Vietnam plants,” Rahman said.

 

On the outlook for tinplate, he said the group’s operational environment was expected to remain challenging and competitive amidst higher raw materials prices, alternative packaging materials and cheaper tinplate imports from China.  Despite the uptrend in tinplate prices, Rahman said: “The price increase will not make tinplate uncompetitive as the price of raw materials for other forms of packaging like resins and aluminium, are also on the rise.”

 

Perstima managing director Hiroshi Kume said: “For now, we are not unduly worried about imported tinplates from China because the local market is small compared with Thailand.  “However, the situation can become bad if overcapacity in China results in dumping in the region.”

 

(Source: The Star, 18 July 2007)

 

 

Exclusive Gold Coins for 50^th National Day

Royal Selangor is offering exclusive gold coins with a legal tender value of RM100 but worth RM1,957 in gold in conjunction with the country’s 50^th National Day.  A statement from the company said that the coins, each placed in a specially designed box, paid tribute to the 13-year tenure of Malaysia’s first Prime Minister Tunku Abdul Rahman.  “Released from a private collection, this gold coin is aptly priced at RM1,957.  Only a limited number of 395 coins are available for sale at Royal Selangor,” it said.  Each coin has the portrait of the Tunku together with the inscription Bapa Malaysia (Father of Malaysia) and on the reverse side features the Parliament House superimposed over a crescent moon and 14-point star with the inscription of the denomination RM100.

 

Other commemorative items include pewter medals, with the 50^th National Day logo, commemorates the glorious moment on Aug 31, 1957, when the Tunku raised his hand proclaiming “Merdeka,” amid cheers from the crowd.  Each medal comes in a special box and is priced at RM50.  The statement also said that the KU collection of home and desk accessories celebrated the diversity and beauty of the nation’s heritage and was inspired by traditional motifs from various Malaysian cultures.  “Kenyah art, batik, wau and wayang kulit are given a modern twist in the designs of photo frames, platters, cardholders, pen caddies and pen trays,” it added.

 

The statement said that the memorabilia would be available at all Royal Selangor stores at the end of the month.  In addition, Royal Selangor is joining the 50^th anniversary celebrations with a Merdeka Exhibition from July 2007 to June 2008 at the Royal Selangor Visitor Centre in Setapak Jaya, which highlights memorabilia produced to commemorate the country’s independence.  Those interested can contact the Royal Selangor Visitor Centre at 03-4145 6122.

 

(Source: The Star, 26 July 2007)

 

 

Merdeka-Themed Pewter Display

A Merdeka Exhibition is being held at the Royal Selangor Visitor Centre in Setapak Jaya, Kuala Lumpur, for a year from until June 28, 2008.  Among the items on display are memorabilia to commemorate the nation’s independence such as the proclamation of independence reproduced in pewter and a replica of the keris worn by the first Prime Minister Tunku Abdul Rahman on Aug 31, 1957.

 

A set of exquisite 25^th Merdeka sterling silver wafers and biography of Tunku is also on display.  The exhibition will be an added attraction to the centre’s educational exhibits.  Since its inauguration in March 2004, the award-winning Visitor Centre has attracted thousands of people from all over the world.  Its complementary tours highlight the history of pewter, tin mining in Malaysia as well as showcase the skills of the Malaysian craftspeople.

 

Located 20 minutes from the city centre, visitors need only hop on the Merdeka-themed Royal Selangor shuttle vans from major hotels located in Kuala Lumpur.  Alternatively, take the Putra LRT and alight at the Wangsa Maju station.  The centre is a short ride away.  For details, call 03-4145 6122.

 

(Source: The Star, 29 August 2007)

 

 

Innovative Designs

In recent years, Royal Selangor has been addressing the home accessories market with new designs more relevant to the modern customer.  Its continuous efforts in design and marketing have made considerable impact in repositioning the brand.  Speaking at a media preview for the Autumn 2007 Collection, Royal Selangor creative director Chris Yong said, “Our strategy is to reach out to new segments and keep our customers engaged.  We continually refresh our product offerings with designs that are appealing and relevant to modern lifestyles.

 

“With Malaysia commemorating its golden jubilee this year, we took the opportunity to explore and embrace our rich cultural heritage.”  Royal Selangor ’s Autumn 2007 Collection comprises seven ranges that complement contemporary lifestyle and accent the home and work environment.  Among the highlights of this season are two exciting ranges inspired by rich textures and motifs of the East.

 

Royal Selangor has partnered with local interior design celebrity Eric Leong to create an alluring range of home and desk pieces.  Inspired by the elegant lotus, New Asia exudes a sense of zen with its bold lines and simple curves.  Another major range this season is Arabesque, a collaboration between Royal Selangor and the Islamic Arts Museum Malaysia.  A celebration of symmetry, calligraphy and the beauty of Islamic art, this collection features desktop items such as memopad tray to cardholders, and home accessories such as coaters, tealights and condiment shakers.

 

From the Greek isthmus describing a land bridge, Royal Selangor’s Isthmus Home collection speaks of a meeting of worlds.  An exuberant foliate motif, a marriage of various styles from the East and West, decorates a collection of home and tableware comprising tankards, tumbler, platter, pitcher, bowl, tray, vase, candlestand and trinket box.

 

To commemorate Malaysia’s 50^th year of independence, Royal Selangor introduces Ku, a collection inspired by various Malaysian cultures.  Ku comprises photoframes, platters, a cardholder, pen caddy and tray embellished with Kenyah, batik, wau and wayang kulit motifs, set against clean-lined shapes. 

 

Royal Selangor extends its Palladio range to include home accents and tableware.  In a subdued antique finish, these timeless designs with their soft curves and graceful shapes accentuate the warmth of pewter.  Also available are the popular Himalaya range and Plus collection of wearables.  Royal Selangor ’s Autumn 2007 Collection is available at all Royal Selangor retail stores and authorised dealers.  Prices start from RM50.

 

(Source: The Sun, 6 September 2007)

 

 

Metal Reclamation Gets Credit Facility

Metal Reclamation Bhd (MRB), a lead producer, has received a RM50 million credit facility from The South East Asian Strategic Assets Fund L.P.  In a statement, MRB said it will also issue up to 25 million warrants to the fund, a collaboration between CIMB Group and Standard Bank.  Money from the six-year loan facility will be used to ramp up MRB’s production.

 

(Source: New Straits Times, 28 September 2007)