JULY – SEPTEMBER 2008
QUARTERLY
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Malaysian Tin Products
MANAGEMENT COMMITTEE
FOR YEAR 2007/2008
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PRESIDENT MR. MAMORU KAWASAKI(ALTERNATE – MR. LOH YOON SOON) SELAYANG SOLDER SDN BHD
VICE-PRESIDENT MR. MAKOTO HARA (ALTERNATE – MR. KONG KEAN BENG) NIHON SUPERIOR (M) SDN BHD
HON. SECRETARY MR. C.S. LIM METAL RECLAMATION (IND) SDN BHD
TREASURER MR. JASON LEE HENKEL (MALAYSIA) SDN BHD |
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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. |
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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 |
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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-COMMITTEEMR. MAMORU KAWASAKI MR. LOH YOON SOON MR. MAKOTO HARA MR. C.S. LIM
MR.
JASON LEE MR. CHEN TIEN YUE TN. HAJI MUHAMAD NOR MUHAMAD EN. FAIZUL AZRI AZIZAN
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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,
May I, on behalf of the Association, the Management Committee and its various Sub-Committees, wish a belated “Selamat Hari Raya Aidil Fitri” to all Muslim members, and a “Happy Deepavali” to all Hindu members who will be celebrating the occasion on 27th October 2008.
According to Bank Negara Malaysia Economic Report 2008/2009 released recently, Malaysia registered a healthy GDP growth of 7.1 per cent in the first quarter and 6.3 per cent in the second quarter of 2008. The commendable growth was supported by favourable external demand, while domestic demand expanded at a more moderate pace.
Despite the strong and better than expected first half performance, the Malaysian economy is forecasted to grow at only 5.7 per cent this year, and at a slower pace of 5.4 per cent in 2009. This is because of the current financial meltdown in the US impacting on the global economy; and Malaysia is no exception.
Most export-oriented industries in the country are already experiencing a slower offtake due mainly to lower external demand, including those in the semi-conductor, and the electronics and electrical (E&E) sectors. Any reversal in the downtrend will have to depend on the revival of the US and global economy. Malaysia as a major world trading nation will certainly be watching with keen interest.
Of great concern also is the country’s inflationary level, which has been rising rapidly since the increase in the fuel pump price in May this year. Bank Negara, in July 2008, has revised its projection for the average inflation rate for this year to between 5.5 and 6.0 per cent, as compared to its earlier prediction of 4.2 percent. This revised inflation rate is higher than the estimated world inflation rate of 4.7 per cent for this year.
Malaysia’s inflation rate jumped to 7.7 per cent in the month of June 2008, and reached a 26-year historical high of 8.5 per cent in August 2008. The Government is projecting inflation to remain high during the rest of the year and into early next year, before moderating towards the middle of 2009. Such protracted high inflation level is bound to put a lot of pressure on costs and prices, and will certainly affect local consumer demand.
Over the next twelve months, with the inherent risks of higher inflation and slower economic growth, the concern for the country is to avoid a recession although some observers have expressed that the country is already in recession.
Against this backdrop of a depressing local and global economy, I would urge Association members to be vigilant, at all times, and to be always mindful of the threats to their business operations, and that, whenever the need arise, to implement such necessary pro-active measures quickly and adequately to ensure survival.
On that note, may I wish all our members the very best in their endeavours.
With best regards.
Mamoru Kawasaki
PRESIDENT
Electrical & Electronics Industry News
MAEI Expects Marginal Electronics Sales Growth
The Malaysian American Electronics Industry (MAEI) expects a marginal 0.4 per cent growth in sales this year, due to a general slowdown in the global economy, in particular the US. “A possible recession in the US is factored in somewhat into our RM74.1 billion sales forecast for the year, but it all depends on the situation out there, if things get worse … we will definitely see a further decline in sales,” MAEI chairman Datuk Wong Siew Hai told reporters in Kuala Lumpur yesterday.
MAEI companies registered export sales growth of 7.1 per cent in 2007 to RM73.8 billion, making up 27.7 per cent of the total electrical and electronics sales in the country. Capital investments for new products and development and upgrade of facilities are also expected to fall by 10.7 per cent to RM2.44 billion this year, from RM2.73 billion in 2007. “A further slowdown in the global economy could of course decrease capital investments,” Wong said. However, the fact that investments are still being made is a sign of confidence in Malaysia, he added. “It is not entirely a gloom and doom picture for the electronics industry. Many research companies are still projecting growth in personal computer (PC) and mobile phone sales,” Wong said.
The major drive for semiconductors is the personal computer sales, mobiles handsets and consumer electronics. According to the Semiconductors Industry Association, shipments for PCs, which account for 40 per cent of semiconductor consumption worldwide, grew by 13.8 per cent, while the shipments of mobile phones grew by 20 per cent. The Association has also forecast that the global semiconductor industry market will experience revenue growth of 4.3 per cent to US$266.6 billion this year.
Wong said US companies in Malaysia are also moving up the value chain, evidenced by the rising investment in design and development. MAEI forecasts that RM1.56 billion will be spent on design and development this year, compared with RM1.51 billion last year. On the current political scene, Wong said the body’s 17 members are yet to express concern, but maintained that a clear direction on what Malaysia plans for itself would not only be welcomed by its members but also the entire business community.
(Source: New Straits Times, 4 July 2008)
Mixed Results for Japan Electronics Giants
Three major Japanese electronics makers – Sony, Matsushita and Toshiba – reported mixed results yesterday for their fiscal first quarters, faring differently in their efforts to ride out the dangers of a stronger yen and falling prices. Sony Corp’s April –June profit plunged to 34.98 billion yen – about half that recorded a year ago – as a strong yen, the absence of “Spider-Man 3” revenue and faltering results at its cellphone operations battered earnings. The Japanese electronics and entertainment company had recorded 66.46 billion yen in profit for the fiscal first quarter the previous year.
Sony lowered its full year profit forecast yesterday to 240 billion yen from an earlier 290 billion yen, blaming expected poor results at its Sony Ericsson mobile joint venture. In contrast, profit at Matsushita Electric Industrial Co. for the April –June period nearly doubled from the previous year on solid global demand for flat-panel TVs and digital cameras.
The popularity of such gadgets helped fend off the negative effects of a stronger yen and global price competition for a 73 billion yen profit for the fiscal first quarter at the maker of Panasonic brand products. Matsushita had recorded a 39.3 billion yen profit the same period the previous year. Toshiba Corp said it sank into a loss of 11.6 billion yen in the April –June quarter because of the nose-dive in flash memory chip prices. It had posted a profit of 20.63 billion yen the same quarter a year ago.
(Source: New Straits Time, 30 July 2008)
Semiconductor Sector wants Special Tariff Status
Malaysia’s semiconductor industry hopes to be granted Special Industrial Tariff (SIT) status under the Budget 2009, given its contribution to the economy and efforts in promoting energy efficiency. “A survey on electricity tariffs conducted by the local electronics industry among factories in Malaysia, Singapore, Shanghai, Bangkok and South Korea has revealed that since our recent tariff hike in July, the cost of electricity here is higher than in Shanghai and Korea,” Malaysian American Electronics Industry (MAEI) chairman Datuk Wong Siew Hai told Business Times.
Stating that the tariffs hike erodes the competitiveness of the country significantly, Wong said the semiconductor industry is not currently eligible for SIT, which is 10-15 per cent lower than the normal industrial tariff.
MAEI is the electronics industry committee of the American Malaysia Chamber of Commerce (Amcham), whose members held a dialogue on August 8 with the government to submit their wish list for the budget. A request for fixed electricity rates is also being sought by the operators of the Kulim Hi-Tech Park (KHTP) in Kedah, where about 80 per cent of its tenants are engaged in the electrical and electronics (E&E) sector. In looking at ways to make the cost of doing business lower at the park, Kulim Technology Park Corp (KTPC) group chief executive officer Datuk Ahmad Shukri Tajuddin said the Government could give a discounted rate to industrial consumers, especially to companies that use electricity around the clock.
He said KTPC has been holding talks with the federal Government on the needs of investors at the park, and one request has been for the use of natural gas. “Due to a shortage of resources and price hikes in fuel and power, companies have no alternative but to consider turning to natural gas in the near future. However, there is inadequate supply in the northern region although a piping system for natural gas is already in place at the park. We hope the authorities will relook its policy on the supply of natural gas since this will meet the energy needs of manufacturing firms,” he added.
Meanwhile, also on the MAEI wish list for Budget 2009 is for tax exemption for broadband lines, to complement the current tax incentive given on purchases of computers and books. “The move,” says Wong, “will encourage more Malaysians to buy computers and use he Internet for e-commerce, online education and e-communications”. Wong said when Korea implemented a similar tax incentive, broadband usage increased by 70 per cent.
The electronics industry is also urging the government to consider a lower income tax rate on retrenchment benefits received. Presently, income tax exemption on retrenchment benefits is given to the first RM6,000. The employees pay tax on the balance of the benefits that they receive.
(Source: New Straits Times, 22 August 2008)
Economic News
Inflation hits 26-year High on Costlier Petrol, Diesel
Malaysia’s inflation level followed regional trends in June, with the Consumer Price Index (CPI) recording a 7.7 per cent hike as a result of the petrol and diesel price adjustments during the month. The CPI soared to a 26-year high in June with the index reading 113.4 from 105.3, beating market expectations and a Business Times poll which had expected 6.74 per cent year-on-year growth.
The Statistics Department said the CPI for the first half of the year increased by 3.7 per cent compared to the same period last year. The index for food and non-alcoholic beverages for June increased 10 per cent, while the index for non-food rose by 6.7 per cent. Between January and June this year, the index for food grew by 6.1 per cent compared to non-food which grew by 2.6 per cent.
Bank Islam Malaysia senior economist Azrul Azwar Ahmad Tajudin said going forward, the CPI may stay above the seven per cent year-on-year level until the first half of 2009 before trending downwards to around three per cent and below if there are no more revisions in fuel price and electricity tariffs. However, he expects a 50-50 chance of a raise in the key benchmark interest rate from 3.50 per cent as Bank Negara Malaysia may want to ascertain the knock-on effects of the review in retail fuel prices. “Should Bank Negara stand pat in its monetary policy meeting tomorrow, I expect it to commence its mild monetary tightening cycle, just to send signals to markets that it is not behind the curve in the combat against inflation.”
HSBC Bank economist Robert Prior Wandersforde said the headline rate must now have reached a level that the central bank simply cannot ignore, fearing second-round effects on inflationary expectations. He said the main contribution to the June CPI came from the jump in transport price inflation (from 0.9 per cent to 19.6 per cent), which added 2.9 per cent points to the headline rate.
The big jump in food price inflation from 8.2 per cent to 10 per cent accelerated the growth as the component suggests that the country’s food subsidies can only go some way to disguising the jump in international food commodity prices. “Food prices would also have been impacted by the strength of energy as well as demand-pull factors, bearing in mind that real consumer spending in Malaysia has been growing at a double-digit for four quarters now,” he added.
(Source: New Straits Times, 24 July 2008)
MIDA Confident of Securing Huge FDI Deals by Year-end
The Malaysian Industrial Development Authority (MIDA) expects to secure several large-scale foreign direct investments (FDIs) of between RM5 billion and RM10 billion each by year-end. Its director-general Datuk Jalilah Baba said the potential investments are in solar energy, semiconductor-related industries and memory technology. “We are negotiating a few projects involving sizeable investments and we hope that these projects will be approved by the year-end, giving us another successful year,” she told Business Times in an interview.
MIDA approved RM17.7 billion worth of foreign direct investments (FDIs) in the first five months of the year and RM8.4 billion from domestic sources. Jalilah, who took over the helm of MIDA last month, admitted that global uncertainties, fuelled by the increase in energy and food prices, would pose a challenge to Malaysia’s investment targets this year. The traditional pull factors and cost competitiveness of an investment location alone may not be adequate to attract investors in these challenging times.
Jalilah said that MIDA had been inundated with calls and visits from company officials concerned about rising fuel prices and the impact on doing business in Malaysia. Some had seen their profit margins squeezed by the rising costs. “We will collate the comments and proposals from the various sectors and analyse them before drafting a specific package in August for International Trade and Industry Minister Tan Sri Muhyiddin Mohd Yassin to put forward to the government for consideration,” she said.
MIDA is concerned because such information will filter to potential investors with big projects in the pipeline that are being negotiated, she added. “The hikes in fuel, electricity and gas prices have affected their calculated cost of doing business and many are rushing back to their drawing boards.” The government needs to come up with some measures to mitigate the effects of such cost increase on businesses, Jalilah said, adding that these do not necessarily need to involve subsidies or grants. “MIDA has undertaken a study to compare what other countries are doing to mitigate the increases for their investors, many of whom also have operations in Malaysia.”
MIDA, which is liked by many investors for its one-stop agency and hand-holding services, wants to be seen as their friend who will take up their predicament and concerns to the higher authorities. This approach has placed Malaysia in good stead over many other investment destinations, Jalilah said. “We are still confident that Malaysia is in the forefront of investment destinations. They will come. It is a matter of negotiating and convincing them that Malaysia is the place for them.” Jalilah said that as far as the political scenario in the country was concerned, foreign investors were the least perturbed. Many from Japan and Europe had even commented that it showed growing political maturity.
A recent five-day investment and trade mission to Japan, led by Muhyiddin, saw Japanese companies expressing interest to invest a total of RM2.6 billion in various sectors, including halal food, air-conditioning systems, automotive parts and car navigation systems, and audio and video equipment. Rising crude oil prices, meanwhile, have encouraged investments in the oil and gas and related sectors, including iron and steel, metal fabrication, precision engineering and parts. “During the negotiation stage, we introduce these potential investors to universities and training institutes so that the curriculum can be tailored to the technology they are bringing into our country. The Government will also continue to support the capacity-building of Malaysian workers,” Jalilah said.
(Source: New Straits Times, 30 July 2008)
Trade Set to Touch RM1tril Again
The value of Malaysia’s total trade is set to hit RM1 trillion for the third straight year in 2008 despite tougher business conditions, Deputy Minister of International Trade and Industry Datuk Liew Vui Keong said. “Obviously going back to statistics, we are on track and happy on that. Definitely, there is some impact (from the increase in fuel prices). We have undertaken assessment (on the impact) and are waiting for the results. Notwithstanding this, we are confident of hitting the target,” he told reporters on the sidelines of a seminar on opportunities under Malaysia’s free trade agreements (FTAs) in Kuala Lumpur yesterday.
In a speech read by Liew, Minister of International Trade and Industry Tan Sri Muhyiddin Mohd Yassin said total trade in the first five months this year amounted to RM481.63 billion, an 11.2 per cent rise from the corresponding period last year. In 2007, Malaysia’s trade grew by 3.7 per cent to RM1.1097 trillion, against RM1.0697 trillion in the previous year. Exports were valued at RM605.1 billion, an increase of 2.7 per cent from 2006, while imports grew by 4.9 per cent to RM504.57 billion.
Malaysia has also benefited from four FTA partner countries as exports have more than doubled to RM13.8 billion in 2007 from RM6.9 billion last year. For instance, exports to China under the FTA have jumped 47 per cent to RM5.6 billion in 2007 from RM3.8 billion in 2006. Exports to Japan was worth RM6.75 billion last year. In the July to December period, exports was worth RM3.07 billion.
(Source: New Straits Times, 1 August 2008)
18.4pc Growth in June Exports
Malaysia’s exports expanded at a slower pace of 18.4 per cent year-on-year in June but continued to benefit from the high prices of palm oil, crude oil and mineral fuels. The International Trade and Industry Ministry (MITI) said exports in June totalled RM58.23 billion compared with RM49.17 billion for the same month last year, while imports amounted to RM45.26 billion, a 12.1 per cent increase from RM40.39 billion posted a year ago. Trade surplus totalled RM12.97 billion.
The numbers came in line with a Business Times poll which expected exports to grow at an average 18.16 per cent and imports at 9.57 per cent, and trade balance to average at RM13.77 billion. MITI said major product sectors which contributed to the increase in exports were palm oil, refined petroleum products, crude petroleum, electrical and electronic (E&E) products and liquefied natural gas (LNG).
Exports of E&E products were valued at RM22.41 billion, or 38.5 per cent of total exports, followed by palm oil (RM4.42 billion or 7.6 per cent of total exports) and crude petroleum (RM4.3 billion or 7.4 per cent of total exports). Singapore, the US, Japan, China and India were the top five export destinations, taking in some 53.2 per cent of Malaysia’s total exports in June. Exports to India surged 101.6 per cent to RM2.92 billion, due largely to higher exports of crude petroleum products and palm oil.
Action Economics director of Asian Economic Forecasting David Cohen, who expected exports to grow at 18.5 per cent, said it was hard to complain about the export performance from Malaysia after its 22 per cent year-on-year growth in May. “The faltering global demand in E&E products rang some alarm bells with volatile month-on-month numbers but Malaysia had benefited from the high commodity prices. Excluding E&E, Malaysia exports posted a 11 per cent growth for the second quarter which was not so terrible,” he said.
MITI said in terms of quarter-to-quarter performance, total trade recorded in the second quarter of 2008 was RM309.44 billion, an increase of 11.8 per cent from the first quarter. Exports during the second quarter increased by 15.4 per cent to RM175.1billion from the first quarter, while imports grew by 7.5 per cent to RM134.34 billion. During the first six months of 2008, Malaysia’s total trade increased by 12.2 per cent to RM586.21 billion, compared with the same period of 2007.
(Source: New Straits Times, 5 August 2008)
Manufacturing Sales in June Hit Record RM51.7b
Companies in Malaysia’s manufacturing sector posted 18 per cent growth in sales to a record RM51.7 billion in June versus the same month a year ago. The growth was driven by oil refiners, steel producers and chemical makers, the Statistics Department said in a statement yesterday. The bulk of sales, or about 65 per cent, came from those involved in the refined petroleum industry.
The manufacturing sector saw a 1.1 per cent decline in total employees to 1.09 million in June. Salaries and wages paid in that month rose 4.9 per cent to RM2.09 billion. Productivity, or average sales per employee, was up 19 per cent to RM47, 392.42 in June from RM39,830.04 in the same month last year. However, the growth was slower compared with that in May.
June manufacturing sales were 5.9 per cent higher than the RM48.8 billion recorded in May. Month-on-month, the number of workers rose 0.05 per cent. Wages were up 2.2 per cent, or RM44 million, from RM2.04 billion paid in May. Productivity in June improved 5.8 per cent compared with that in May.
In the January-June period, manufacturing sales increased 15.9 per cent to RM287.5 billion compared with the same period last year. The Statistics Department said that 64 industries recorded sales of RM600 million and above in the six months. The number of employees in the sector fell 1.1 per cent to 1.09 million in January-June from the comparable period last year. Productivity, or average sales per employee, in the six months, however, increased 17.2 per cent to RM263,676.61.
(Source: New Straits Times, 19 August 2008)
Zeti: Economic Growth to Moderate in 2nd Half
The country’s economic growth is expected to be above six per cent in the first half but will moderate in the second half, said Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz. The second half figures will be impacted by rising energy and commodity prices. For the year, Bank Negara’s gross domestic product target is six per cent from 6.5 per cent initially.
Zeti yesterday said while the Asian region has experienced robust growth in the first half of 2008, regional economies will be affected by the number of current global developments. “Although growth is expected to moderate, most economies will continue to see reasonable growth performance,” she said in her keynote address at the Fourth Public-Private Dialogue for the Asia-Pacific Region in Kuala Lumpur. The dialogue is organised by the South East Asian Central Banks Research and Training Centre in collaboration with Apec Business Advisory Council, the Asian Bankers Association and the Pacific Economic Cooperation Council to discuss the development of Asia’s financial systems and the implementation of Basel II.
Zeti said the Asian region will continue to face inflationary pressures but this is expected to recede with the substantial correction that recently took place following the slower pace of global growth. She added that the Asian region is expected to weather this challenging period with the growing intra-regional trade and the expansion of its economic links with Eastern Europe and Russia, the Middle East and Latin America. She pointed out that 60 per cent of Malaysia’s trade is with the Asian region while that with the US, its single largest trading partner, has declined from 25 per cent to 15 per cent over the last 10 years. “In this environment, the implementation of Basel II presents a powerful lever for banks to significantly enhance both their long-term resilience and their competitive advantage,” she said.
Zeti said to realise the full benefits from the implementation of Basel II, its multifaceted dimensions need to be well understood and well integrated with the financial structures, institutional practices and supervisory systems. “Emerging markets in particular will need to ensure that supervisory interpretations of the framework are contextualised to the local conditions, and the preconditions for its effective implementation are adequately developed to avoid the potential market distortions,” she added.
(Source: New Straits Times, 19 August 2008)
Chinese Businesses Pessimistic on 2nd Half
Chinese businesses in the country, particularly those in the small- and medium-sized businesses, have expressed pessimism about business outlook for the second half of this year. Sharp increase in fuel prices, electricity tariff, inflation, rising interest rate, impact of the outcome of the general election and the current political situation have been listed as the major factors affecting the business sector, they said in a survey.
The survey by the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) covers small and medium-scale enterprises from wholesale and retail, manufacturing as well as professional and business services. Results of the survey were made known yesterday. ACCCIM commerce committee deputy chairman Chua Tin Guan said they expect sales to drop for the next six months and are also pessimistic about the domestic and export sales in the months ahead. “Sixty one per cent suffered from increase in operating costs and price of raw materials compared with 42 per cent in the second half of 2007,” he said.
The businesses also did not expect to increase their staff strength and they expect to maintain the wage cost per unit of goods and services while 29 per cent expect to reduce the salary of their employees. Weak business prospects also translate into lower capital investment with 47 per cent indicating they would cut investment due to the under-utilisation of resources and capacity. More of them cited the domestic political situation and government policies as major factors affecting their business performance this time round. He said a significant number of the Chinese business community are pessimistic about the economic outlook for Malaysia in the next two to three years.
Result of the survey serves as an important reference parameter for ACCCIM to submit proposals to the government. In its wish list for Budget 2009, it called for further reduction in the corporate tax, exemption or reduction of import duty of raw materials and spare parts and increase in agricultural investment incentives. In welcomed the RM1.2 billion SME Assistance Facility which it said will assist viable SMEs manage temporary cashflow problems. The government’s decision to lower fuel prices will also reduce inflationary pressures as they expect operating costs to be reduced. It has also suggested to the government to provide cheaper electricity tariff during off-peak hours to reduce the burden of the industries. ACCCIM represents some 28,000 Chinese businessmen and trade associations in Malaysia.
(Source: New Straits Times, 26 August 2008)
Member News
Plant Expansion to Boost Balance Sheet
Perusahaan Sadur Timah Bhd (PERSTIMA), a tin plate manufacturer, is confident that its balance sheet will improve, following a recently completed expansion programme at its facilities in Pasir Gudang, Johor and Vietnam. Chairman Tan Sri Ab Rahman Omar said the company spent some RM60 million to upgrade facilities at these plants since last year. “We completed upgrading our facilities in Pasir Gudang with investment of RM26 million last year. And we just completed upgrading our facilities in Vietnam last May that cost us about US$10.7 million. At this stage, we don’t have anymore plans for future expansion,” he told reporters after the company’s annual general meeting in Kuala Lumpur yesterday.
The expansion of the plants have increased Perstima’s total production capacity to 300,000 tonnes per year. Ab Rahman said Perstima had already seen some improvement in its balance sheet up to March this year as its cash position stood at RM40 million from RM37 million the year before. “This is a sign that from today onwards, our cash position will improve if we can maintain our profitability,” he said.
For the financial year ended March 31, the group recorded turnover of RM740 million, an increase of 12.1 per cent compared to the previous year. This was due mainly to the higher sales volume for both plants in Pasir Gudang and Vietnam. However, Perstima posted a lower pre-tax profit of RM48.7 million compared with RM59.4 million in the previous year due to a lower profit margin.
Ab Rahman is upbeat on increasing demand for tin plates from the Middle Eastern countries, particularly on the use of tin to make containers for edible oils. “While we are more familiar with the use of plastic bottles for palm oil, the Middle Eastern countries prefer to import edible oils in tin-plated containers,” he said. At present, Perstima exports its tin plate products to several countries such as Iran, Bangladesh, Sri Lanka, Indonesia, Australia and Vietnam.
(Source: New Straits Times, 22 July 2008)
Pewter Gifts for Aidilfitri
Forget the usual hamper. Take your gift-giving up a notch by choosing to send over Royal Selangor’s Hari Raya collections instead. The Fitrah gift set comprises a pair of tealight holders with six lavender scented tealights, while the Aidilfitri gift set has an elegant lotus-inspired platter designed by interior décor guru Eric Leong packaged with Arabesque condiment shakers.
The Syukur gift set, however, presents an Isthmus pewter bowl beautifully packaged with almond, cashew and pistachio nuts. A perfect balik kampung gift! Our favourite though, is the Syawal set, which comes in an attractive wooden box in a glossy walnut finish. Inside are elegant pewter tumblers, which will definitely serve as a conservation piece. Prices for the sets start from RM290.
(Source: Malay Mail, 3 September 2008)
Modern Living
Staying true to its design philosophy in creating functional pieces for modern living, Royal Selangor’s Autumn 2008 Collection prepares for the upcoming festive seasons. Featuring three ranges, the collection offers a combination of contemporary and classical designs that complement the eclectic styles of today’s home interior. Inspired by the beauty and resilience of nature’s flora, Chinese painters and poets have imbued particular flowers and plants with auspicious meaning and literary resonance. Collectively known as the “Four Gentlemen”, this range is carved out of four flowers – the plum blossom, orchid, chrysanthemum and bamboo. These four flowers are said to embody the virtues and high ideals of a Confucian scholar or gentleman. Celebrating the beauty and symbolism of the “Four Gentlemen”, Royal Selangor has come up with a collection of eight pewter items. Finely sculpted in low-relief and crafted in satin finished pewter, the collection is a tribute to noble virtues that still hold true during this modern age.
The plum blossom is able to withstand the cold of winter, symbolising perseverance, courage and will power, while the orchid, admired for its beauty and fragrance, represents a perfect cultured individual. Pliant yet strong, the bamboo is seen as resilient and humble; its nodes on the stem mark its continuous growth, likened to man’s pursuit of excellence. Lastly, a flower of autumn that blooms at a time of transquility, harvest and abundance, the chrysanthemum is said to personify simplicity, honesty and perfection. “As plum blossom, orchid, bamboo and chrysanthemum are also affiliated to the four seasons – winter, spring, summer and autumn respectively, this collection constantly reminds you of nature’s perpetual cycle of change throughout the year. There is also a Chinese poem engraved behind the plaque entitled “An Ode to the Gentlemen” which helps illustrate the flower engravings for those who may not understand the pictorial illustrations,” explained Yong Yoon Li, general manager of Royal Selangor International Sdn Bhd.
The “Four Gentlemen” collection comprises a plaque, a plate, a tumbler, a bowl together with vases and tea caddies in two sizes. “Compared to previous collections, this time around, the Autumn Collection is less literal. This collection is not as straight forward as the ranges before. It is more toned down and it would speak more to those who admire art or those who are able to interpret the meaning behind the pewters. Also, this Autumn 2008 Collection would complement the upcoming festive seasons especially if you are looking for gifts,” added Yong.
Another range of the Autumn 2008 collection, the Isthmus is inspired by traditional woodcarving motifs from Southeast Asia region. These new designs are embellished with distinct bold foliate motif that exists in the art of classical Mediterranean, Central Asian, Indian and Southeast Asian cultures. Additions to the range are a plate, a clock, two tea caddies and four photo frames.
Apart from the two artistic range, this season, Royal Selangor refreshes its classis range of Tankards with three new designs in minimal contemporary style. A clever and artful combination of traditional-meets-modern, the elegant designs are a fusion of practicality and sleek simplicity that complements contemporary lifestyle. All three new contemporary designs come in two different sizes, half and one pint. The Royal Selangor Autumn 2008 Collection is available at all Royal Selangor retail stores, authorised dealers and online now. Prices of the pewters range from RM150 to RM1,280.
(Source: The Sun, 4 September 2008)
The Royal Touch
Known for its exquisite designs and excellent craftsmanship, Royal Selangor is offering four elegant Raya packages – Fitrah, Syawal, Syukur and Aidilfitri – to commemorate and celebrate this year’s Hari Raya. Muslims can light up their home this festive season with the Fitrah gift set comprising a pair of Royal Selangor Himalaya tealight holders with six lavender-scented tealights. The purity and charm of these tealights will illuminate any living room and are delightful gifts for this festive season.
Welcome the month of Syawal with the Syawal gift set. Presented in an attractive wooden box of glossy walnut finish, this also makes a wonderful gift for loved ones. Similarly, you can also impress guests by serving kuih-muih or titbits on the elegant lotus-inspired platter designed by interior décor guru Eric Leong. This platter is now beautifully packaged together with the Arabesque condiment shakers in Royal Selangor’s Aidilfitri gift set. Complimentary sachets of white, black and cayenne pepper add colour to the offering.
Alternatively, surprise your family and friends with the Syukur gift set comprising an Isthmus pewter bowl beautifully packaged with almond, cashew and pistachio nuts. It makes the perfect balik kampung gift. And when friends and family come visiting during the open house, greet them with refreshing beverages served in the exuberant-foliate motif pewter tumblers from Royal Selangor ’s Isthmus collection. Apart from keeping your drinks cold, these elegant pewter tumblers will definitely serve as a conversation piece among your guests with their beautiful and intricate motifs. The Royal Selangor Hari Raya inspiring range of gifts is a classy way to celebrate Raya. Prices start from RM290.
(Source: The Sun, 17 September 2008)