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TNB needs to shape up ;).

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Last week, I visited the Telekom Malaysia (TM) service centre in Kajang to make a bill enquiry.

At the center, I took a number from the machine and waited my turn.

In no time at all, several transactions were completed, using just one number.

It was a breeze and I faced no hassles, for which I must thank TM.

But, at the Tenaga Nasional (TNB) office in Kajang, it was a different story.

The number I took on entry was valid for only one transcation.

When I needed to pay my bills, I had to run back to the machine for another number and wait patiently for my turn all over again.

Why can’t they use one number like they do at TM?


Who said? The Star said ;).


Written by Syafirul Ramli>>

July 22, 2010 at 11:52 PM

Posted in GLC

TNB keeps its options open ;).

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PETALING JAYA: Malaysia must find a solution to its post-2020 power needs in view of the depleting resources and scarcity of fossil fuel, said Tenaga Nasional Bhd (TNB) chief executive officer Datuk Seri Che Khalib Mohamad Noh.

He said TNB was keeping its options open on the possibility that the Government may have a nuclear plant operational by 2021.

Che Khalib was commenting on Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui’s announcement on Tuesday that the Economic Council had given the go-ahead to his ministry to look for suitable sites for a nuclear power plant.

Chin had said the plant would be built in an area with high power demand and would need a lead of at least 10 years; safety aspects, human resources and location factors would also have to be sorted out.

The Cabinet had approved the project three weeks ago to steer the country away from its reliance on depleting coal and gas resources for energy.

Prime Minister Datuk Seri Najib Tun Razak, who invited the public to share their thoughts on the country’s future electricity needs and nuclear energy, had in his latest blog posting said the imbalance in the use of coal and gas to generate energy would need to be addressed.

Former International Physicians for the Prevention of Nuclear War president Datuk Dr Ronald McCoy said the Government must rethink its approval for the nuclear plant if there is no safe and cheap method to dispose of the waste.

Without any significant advances in disposal methods, nuclear waste would remain lethal and radioactive for thousands of years, he added.

“Nuclear energy is not what it’s claimed to be by the Government. It is not safe, clean or cheap,” he said here yesterday, calling the project as not sustainable in meeting Malaysia’s long-term energy needs.

Centre for Environment, Technology and Development chairman Gurmit Singh criticised the Cabinet for committing to the project without consulting relevant stakeholders or having a public debate.

He asked the Government to review its decision and reveal the companies and agencies advising and providing know-how for the project.

However, Malaysian Nature Society president Datuk Seri Dr Salleh Mohd Nor supported the project stating that nuclear power had been proven to be safe.

Nuclear power, he said, would offset the need to destroy Malaysia’s biodiversity for hydro and coal-fired power plants.

Who said? The Star said ;).

Written by Syafirul Ramli>>

July 22, 2010 at 10:38 AM

Posted in GLC

Celco maintains consistent growth ;).

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AXIATA Group Bhd has managed to maintain a consistent growth story. Apart from its ability to maintain its EBITDA (earnings before interest, tax, depreciation and amortisation) margins above 40% in the past four quarters, Axiata will also be able to pay dividend from next year.

On top of that, its share price has risen more than 30% year-to-date, outperforming the benchmark FTSE Bursa Malaysia KL Composite Index. Axiata started the year with RM3.07, its lowest so far for the year on Jan 4, and has since been on an uptrend. On Friday, the counter closed at RM4.11.

“We like Axiata for its attractive blend of regional mobile assets. It’s a regional growth story,” an analyst says, adding that the telco is trading at an attractive price earnings ratio (PER) of 13 to 14 times against its peers at 16 to 19 times.

Indonesian youths walk past an advertisement for mobile phones during the Indonesian cellular show in Jakarta recently. Axiata is a big player in that market. — Reuters

“We like its continued focus on improving operations, although the upside from this may fall short of present sky-high market expectations. Axiata has mentioned that the balance sheet is now in healthy shape, and a dividend policy may be announced soon,” another analyst says.

Inter-Pacific Research Sdn Bhd has an outperform call on Axiata with its fair value pegged at RM4.52 based on sum-of-parts (SOP) valuation method which translates into a PER off 14.4 times based on FY10 EPS of 31.45 sen.

“Our optimism is due to its regional growth potential coupled with dividend policy expected to be announced in the third quarter and improving margin from active cost management and network efficiency programmes,” it says.

A local bank-backed analyst believes Axiata may not be the choice for dividend play as yet as it needed to fund its growth. However, he says Axiata presented investors with regional exposure and is a proxy to Indonesia’s growth story.

MD, president and group CEO Datuk Seri Jamaludin Ibrahim says the group will be announcing a dividend policy by the end of the current quarter.

He says Axiata is currently a growth-based company but eventually it may also turn into a dividend-play stock.

He did not disclose more information on the dividend plans but said companies generally give out some 30% of their profits as dividends to shareholders.

“We believe Axiata’s dividend policy will not match DiGi’s 80% and Maxis’ 75% respectively due to the need to fund operating companies and focus as a growth stock instead of being a dividend yielding stock,” Inter-Pacific says, adding that it expects Axiata to pay out 15% of its FY10 EPS and subsequently adopting a dividend payout of 30%.

MIMB Investment Bank views Axiata’s plan to announce its dividend policy and sell as much as RM4.2bil of Islamic bonds to refinance existing debts as very positive to attract new investors, especially the traditional dividend-paying and bonds conservatives.

“Given the current cash level, we think there is a good probability of getting a good dividend yield of 4%-5% by end-2010,” it says.

Since its listing back in April 2008, Axiata has chalked up a steady performance, showing improvement quarter after quarter.

For the quarter to March 31, Axiata charted a 30.9 % rise in turnover to RM3.8bil from RM2.91bil previously. Earnings per share rose to 11 sen from 1 sen before.

Its EBITDA was up 52% to RM1.7bil while EBITDA margin improved by 6.1 percentage points to 44%.

Despite the stiffer competition, analysts say the EBITDA margin is still healthy, although it is being squeezed.

“Axiata’s EBITDA margin is poised to improve gradually from 39.3% in FY09 to 44% in FY10 with margins to remain at 44% in FY11 and FY12.

“Our positive view on Axiata’s EBITDA margin is due to their active network efficiency programmes, cost optimisation and customer retention programmes which are executed across operating companies,” Inter-Pacific says.

Celcom Axiata Bhd and PT XL Axiata Tbk (XL) combined contributed 83% of revenue and 89% of EBITDA in the first quarter.

A year ago, XL contributed only 31% to the group’s revenue and EBITDA respectively. To date, the Indonesian telco has overtaken Celcom’s contributions in terms of EBITDA. XL currently contributes 39% and 46% to group’s revenue and EBITDA respectively against Celcom’s 44% (revenue) and 43% (EBITDA).

For its first quarter ended March 31, XL’s revenue and EBITDA were up 42% and 92% to 4.2 trillion rupiah and 2.1 trillion rupiah respectively year-on-year.

Jamaludin expects XL to overtake Celcom and be the main revenue earner going forward.

“We expect XL to overtake domestic operations in terms of revenue within the next three to five years,” he says, adding that some 45% of its revenue and 80% of net profit currently derived from domestic operations.

Commenting on its financial target for the year, he says the group targets a “low to mid-teens” target for revenue while “low-teens” for profit.

According to the group’s headline key performance indicators for 2010, Axiata is aiming to grow revenue by 12.1% this year and raise EBITDA by 14.1%.

“The future source of growth geographically is outside Malaysia and in terms of products it is mobile broadband,” Jamaludin says, adding that the high speed broadband (HSBB) would affect its business to some extend.

Nomadic users

He says more users are becoming nomadic users while data usage has surged over the past couple of years.

Analyst concur with Jamaludin. They say data and broadband business will be the key drivers for telcos. However, they say the playing field is getting even crowded these days with not just 3G operators but also WiMAX and 4G players.

An analyst says the blended average revenue per users (ARPU) of all three telcos, Maxis, Celcom and DiGi has dropped last year, therefore operators will have to find ways to stop it from sliding further.

Jamaludin expects data usage to grow further due to the availability of various and newer smartphones in the market.

Over the last two years, social networking such as Twitter and Facebook have grown from nowhere to be among the largest applications, he adds.

Mobile data currently contributing some 30% to the group’s revenue and is expected to rise further in the next three to five years.

“We can’t grow as much as before for voice, so mobile data will help us to mitigate,” Jamaludin says.

He adds that going forward, Axiata would focus on sustainable performance with emphasis on revenue growth opportunities including mobile broadband.

It will also continue its diligence on cost management and capital expenditure (capex) efficiency. The group has also announced RM3.6bil in capital expenditure for this year to support Celcom as well as its operating companies in Indonesia (XL), Sri Lanka (Dialog) and Bangladesh (Robi).

Axiata currently has cash and bank balance of RM2.85bil as at March 31.

Inter-Pacific says Axiata should be comfortable enough to generate its expected capex of RM3.6bil internally out of which RM1bil is for Celcom.

“With the sales from XL shares, Axiata cash balance should balloon to above RM4bil. The issuance of RM4.2bil sukuk should provide some breathing room to its cash usage as it will be used to refinance its existing debt which is due to mature in two years’ time and at the same time hedging their position against increasing rates,” the research house says.

On its debt level, Axiata has managed to strengthen its capital structure with further deleveraging of balance sheet with lower net debt over EBITDA at two times in FY08. Its net debt over EBITDA was 3.8 times in FY08.

Meanwhile, MIMB Investment says the recent tie-up between Celcom and DiGi to collaborate on network and infrastructure sharing is encouraging as it may result in more joint venture in other areas.

“We are positive on this development as any cost reduction will help boost Axiata’s margins which are already under pressure due to cut- throat competition.”

Despite the strong capital appreciation, Jamaludin says its market capitalisation was relatively lower than that of Maxis.

“Axiata is undervalued for sure,” he says.

Given the demand from dividend seeking investors, Axiata’s price is likely to have more upside in the medium term.

“We believe Axiata should be a good strategic exposure to regional telecoms,” MIMB says.

On the cut on mobile termination rates and fixed termination rates, possibly by up to 40.2% and 17.6% respectively to converge around 5 sen per min, it is likely to dent Axiata’s revenue a little but not as much as Maxis.

Analysts believes Maxis would be the most affected given its large subscriber base, but the impact on Axiata should be minimal.

Overall, Axiata may be a good growth story but there certainly are concerns and challenges.
AXIATA :  [Stock Watch]  [News]

Related Stories:

Transforming Axiata

A holistic approach

A regional champion in the making

Who said? The Star said ;).

Written by Syafirul Ramli>>

July 17, 2010 at 9:27 PM

Posted in GLC

A regional champion in the making ;).

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IT is no secret to the industry that Datuk Seri Jamaludin Ibrahim, a man who is well versed in technology, intends to turn Axiata Group Bhd into a regional champion in just five years.

The MD, president and group chief executive officer says there are a lot of things to do, including harnessing internal talent and the group is currently making progress towards its vision.

“We’re far from being so (regional champion), that’s because we have a very aspiring target,” Jamaludin says in an interview with StarBizWeek.

He says Axiata’s focus is strictly on South Asia and Asean only. “We’re restricting our footprint. We’re not going to faraway lands”.

An employee working behind a computer terminal at an XL Axiata office in Jakarta. XL Axiata expects to overtake rival Indosat this year as the No. 2 mobile phone operator in Indonesia. — Reuters

Jamaludin, appointed two years ago to TM International Bhd (TMI), has a proven track record during his 10-year tenure at Maxis Communications Bhd; during which time he grew Maxis from a relatively small mobile player into the country’s biggest mobile operator. When Maxis was listed in 2002, it was a big success and continues to dominate the mobile sector in the country.

Under his stewardship, Axiata secured a foothold in the India market by merging its provincial Indian unit with a larger nationwide player.

For the first quarter ended March 31, Axiata posted a net profit of RM921.5mil, or 11 sen per share on revenue of RM3.81bil.

Its total mobile subscribers in the region grew by 37% to 130 million subscribers.

Celcom Axiata Bhd and PT XL Axiata Tbk, its Indonesian unit, combined contributed 83% to group revenue and 89% to earnings before interest, tax, depreciation and amortisation in the quarter ended March 31.

Indeed, there has been tremendous progress after helming the group for two years. Still, Jamaludin says there are a lot of things to be done.

He says Axiata is always mindful of its competitors, both traditional and non-mobile players such as Skype and Google, which has recently ventured into the mobile domain.

“We will always worry about our competitor even if they are smaller,” he adds.

Two years after its listing, Axiata has a weightage of about 6.3% on the FTSE Bursa Malaysia Kuala Lumpur Composite Index. The telco group currently outperformed the benchmark index, with year-to-date gains of more than 30%.

Jamaludin is proud to say that Axiata has managed to beef up all its operations in the 10 countries it has a presence.

At one point during the interview, Jamaludin drew a diagram to explain the base stations, switches, fibre optics and Axiata’s rationale for working with DiGi.Com Bhd. It just hits you how passionate Jamaludin is about the business.

Prior to joining Maxis, he was managing director and CEO of Digital Equipment (M) Sdn Bhd from 1993 to 1997.

Jamaludin started his career in 1981 as a lecturer in quantitative methods at California State University in 1980, before spending 12 years with IBM Malaysia.

The relaxed looking chief, graduated from California State University in 1978 with a BSc in business administration and minor in mathematics. He obtained his MBA from Portland State University, Oregon in 1980.

He was named “Mobile Operator CEO of the Year” several times with the latest from Frost and Sullivan Asia Pacific ICT Award 2009.

Even though his job keeps him busy, Jamaludin finds time to read and is currently reading The Long Tail by Chris Anderson.

He explains the Long Tail theory using music record analogy. He is also an ardent fan of Deep Purple.

Jamaludin says he actually travels more these days than before but tries to spend more time with his family. He is married to Datin Paduka Norizan Azizan and they have six children.
AXIATA : [Stock Watch] [News]

Related Stories:

Transforming Axiata

A holistic approach

Celco maintains consistent growth

Who said? The Star said ;).

Written by Syafirul Ramli>>

July 17, 2010 at 9:21 PM

Posted in GLC

Transforming Axiata ;).

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Can Jamaludin Ibrahim make the group a regional champion?

SCEPTICS were doubtful if Datuk Seri Jamaludin Ibrahim could make any real change to Axiata Bhd apart from the branding perspective when he returned to the world of technology and communications.

This silver-haired corporate chief quit Maxis Communications Bhd in July 2007 to take a break and spend time with his family. Little did he know that his retreat would be short-lived.

In March 2008, he was back, heading Axiata (formerly TMI International Bhd). Axiata was a gem within Telekom Malaysia Bhd’s (TM) ambit but it needed a real good shine. Sceptics thought his experience did not match the job he had taken on at Axiata, which had legacy issues too.

At that point Axiata had also just finished spending millions of ringgit to widen its geographical footprint in Asia and those assets needed to be consolidated. Axiata has operations in 10 countries including two populous countries, India and Indonesia, where cellular growth has been phenomenal.

It is indeed a challenging job given his mandate to turn Axiata into a regional champion, pitting it against giant Singapore Telecommunications that has struck that pose in Asia.

What lured Jamaludin to dump his beach wear and the white sandy beaches for the job was the chance of “having a nice platform to develop talent for Malaysia and internationally,’’ besides doing national service.

“That really motivated me,’’ he says in an interview. He is the managing director, president and group CEO of Axiata and formerly group CEO of Maxis.

The call may have been tough, the sceptics unconvinced, but he just moved in to take the bull by its horns.

Enter Jamal

He looks at the group and felt “enough of inorganic growth”. That came just less than two months at the job.

He also closed the doors to new acquisitions. Moreover, opportunities were also limited in Asia and assets becoming increasingly pricey.

“I also felt then and even now that we had this nice bunch of companies and if we bring the right management team and strategy, it would be better,’’ he says.

Axiata, or TMI then, had its own strategy, but to work towards becoming a regional champ meant heads must roll, cuts must be made, and change was critical.

A simple branding exercise was not the way to go.

The obvious first step was the need to strengthen the management team. To do that the bar needed to be raised, standards improved, operational models revamped, cost reduced to raise the return to stakeholders.

“Good is not good enough,’’ he says.

Of course, change is often difficult when it concerns people and that was one of the most difficult parts of the change process, admits Jamaludin.

Engage the talent

Among the first things he did was engage with the staff to build talent and that was tough.

It was not a question of Axiata not having talent but managing that, retaining, rewarding and at the same time axing what did not jell. The thought process then was “build for the future.’’

Jamaludin says: “We had the wrong notion that people don’t work hard, so we were pleasantly surprised that Axiata had a good set of people. That was good news (from the onset).’’

After two years, he has 50 CxOs (the x stands for such things as operations, financial, technology and information) across Asia of which 25 are new. It was a good mix of Malaysians and foreigners some of whom are from the respective geographic locations from which Axiata operates.

“It is diversity and our strategy is supportive of that,’’ Jamaludin says.

But getting 25 newcomers in was not easy because of resistance from within, especially from those who thought they were candidates for the posts.

The way he handled the situation was via discussions and engaging with the employees. He explained the need to bring in talent and the need to drive Axiata into a regional champ. Recently Axiata announced some management changes and these were intended to give people a chance to learn new things and this move helps minimise vertical promotion.

“We asked them to go somewhere else or do something else, such as from finance to non-finance before they move up,’’ he says.

By 2015 he wants 100 CxOs, and he is well on track to achieving that. Half would be Malaysians.

The makeover

Legacy issues were a given. The name change was a necessity to reflect the dynamism of a cellular company which evolves at a fast pace. Logically, the separation from TM was critical for it to stand alone.

Axiata was picked from the 700-odd names on its list. It does not mean anything but it reflects “an international company.’’ Its theme now is “advancing Asia’’ and that is about connecting Asia to the rest of the world.

“It is not a jaguh kampung. We were quite worried about the name change, about its sensitivity and trying to find a name that reflects a bit of Malaysian (yet) not so Malaysian,’’ explains Jamaludin.

To stay further away from the image of TM and to cut links, Axiata moved to its spanking new address at Sentral KL where its corporate office is located and so is the shared training facility known as “Celcom Axiata Infinity Centre.’’ It has 120 people at its corporate office and the total staff strength of the group is 25,000 people.

Axiata’s crown jewel, Celcom Axiata Bhd, has been a major contributor to earnings. That remains, but increasingly the overseas operations are contributing more. Indonesia’s PT XL Axiata tbk (XL) is seemingly fast becoming a favourite as its contribution has been staggering the past one year.

Axiata found its way to Bursa Malaysia in April 2008 and has been a pick of fund managers who see this as a pure cellular play competing with the likes of Singapore Technologies, SK Telecom and several other regional players.

Fast forward to today

Axiata’s market capitalisation today has tripled from RM12bil before the demerger to RM34.7bil as at this week. Its share price has never hit the RM4 mark until this week. It hit RM4.12 on Monday. The stock has outperformed the KLCI by 35.1%. The stock closed at RM411 yesterday for a year-to-date gain of more than 30%.

In terms of subscribers, the change has been drastic from 40 million when he took over, to 130 million of which 10 million is in Malaysia alone.

Celcom has been a major contributor towards Axiata’s coffers but change is happening as the overseas operations are now contributing positively.

The revenue contribution equation of 45:55 (Malaysian:international) will change to 35:65 by 2015.

“We have targets for both revenue and profit for 2015, and we are not far from that,’’ he says.

It is no wonder Jamal feels Axiata is undervalued.

At RM34.7bil, its market value is still below the re-listed Maxis (sans its foreign operations) whose market value is RM39.8bil. Should Axiata then re-consider a re-listing of Celcom to get into the same league as Maxis in terms of market cap?

“In the short term it is tempting, but in the longer term that may not be the best vision. We need to have complete control to spurt our growth,’’ Jamaludin said.

Its India operations from Spice has been merged with Ideal Cellular, giving Axiata a 20% stake in a much bigger company that has business in seven out of the 22 circles in India from three previously. The book value of this investment in India is about US$2bil now.

Axiata wants a bigger stake in India, but may have to wait as “right now there is none.’’

Jamaludin says the source of future earnings will be from its overseas business and product-wise, data and broadband services will bring in the returns the market has been talking about for over a decade. Its data business contribution should be about 40% over the next 3-5 years from 30% currently.

There is cash in the coffers to the tune of RM2.85bil (cash and bank balances at at end-March 2010) and a dividend policy is in the works. But Jamaludin is not saying anything for the moment.

But analysts are betting on it for this year. Let’s see if he shocks the market later this year.

Profit forecast for this year is well “on track’’, he says.

The hurdle ahead

While Jamaludin may have done things smartly by bringing in people, getting the processes in order and bringing the cost down, the job is far from complete.

Axiata’s challenge will be to bring innovations to the market place and video-based applications. It is working with partners but the call would be tough given the fact that Maxis, its biggest rival, is going to combine content with sister company Astro for its future offerings.

Perhaps this is the time for Axiata to go back to TM, both of whom share common shareholder Khazanah Nasional Bhd.

It works to Axiata and TM’s advantage to team up as one lacks a fibre network and the other is a cellular outfit. The fit could bode well for both but content will be the biggest challenge and video-based services will be the theme of the future.

Axiata is also not about to pour in millions of ringgit to build a fibre network. Jamaludin is not for it, saying “we have the licences to roll out fixed broadband but it is not economical.’’

Elsewhere its operations will be subject to regulations, geopolitical issues and competition. The emergence of over the top non-traditional players such as Google and Skype that can offer free voice and other services will be something to watch out for.

Building partnerships to reduce cost, like it is contemplating with DiGi.Com Bhd, for sharing of transmission facilities will help reduce costs and duplication.

It would also need more spectrum locally and abroad and there is a price for that as seen in the recent intense price war in spectrum auctions in India. All this requires funding but Jamaludin says “according to our plan, all the operations are self-funding and we do not see the need to raise funding over the next one to 1½ years.’’

Could the entire transformation of Axiata be done differently or at a faster speed?

Says Jamaludin: “It could have been done slightly faster, be it in talent management, leadership programmes, strengthening of the company etc.

“However, we do not simply make changes as we are dealing with people’s lives. We have to respect that.’’

The real champ

Yes, he has made changes beyond mere re-branding change. It is a total revamp, and if the people and systems are the right ones and at the right places, there is more than a decent chance that Axiata will become one of Malaysia’s regional champions.

“I have to hand it to him as there was sceptism earlier that he will not make it,’’ says an analyst.

But for now, we will have to wait as the finishing line is still miles ahead. Regional champ in 2015 – that is five years from now, and there is already talk of a second economic slowdown.
AXIATA :  [Stock Watch]  [News]

Related Stories:

A regional champion in the making

A holistic approach

Celco maintains consistent growth

Who said? The Star said ;).

Written by Syafirul Ramli>>

July 17, 2010 at 9:18 PM

Posted in GLC

10 Top GLC Companies You May Want to Work For ;).

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A government-linked company or GLC refers to a corporate entity partially or wholly owned by the government through a holding corporation. A GLC can be a private or a public listed company, operating independently through its own business indicators and KPIs.

Following is a list of 10 GLC companies in Malaysia you may want to work with:

1. Petronas

Founded in 1974, Petronas or Petroliam Nasional Berhad was shouldered with the oil and gas operation in the country, and later quickly grew its operation in more than 30 countries worldwide. In 2008 and 2009, Fortune magazine listed Petronas among the 100 largest companies in the world, the only Malaysian company which has achieved the feat. In the recent time, the company also revamped its salary structure, giving fresh graduates one of the highest paid around.

2. Maybank

Currently the largest bank in Malaysia, Maybank has also expanded its operation beyond the country’s shore which include Singapore, Indonesia and Philippines. Its Indonesian venture was recently surrounded with controversy but that does not stop the bank from receiving awards, one after another. Last month, Maybank was named as the Overall Best Domestic Private Bank in Malaysia by Asiamoney during the annual Private Banking Poll.

3. Telekom Malaysia (TM)


Telekom Malaysia (TM) underwent its most pleasant turnaround under the helm of Datuk Wahid Omar, who introduced result-oriented approach and put emphasis on customer-driven approach. The TM Point facelift we see today is highly attributed to this guy, which has since left to become the new chief of Maybank. TM is Southeast Asia’s second largest telco company, with an almost complete monopoly on the country’s fixed line network. Whether the services are really up to the standard is still a question to address.

4. Tenaga Nasional Berhad (TNB)


With close to RM70 billion worth of asset, Tenaga Nasional Berhad (TNB) is presently the largest power and utility company in Southeast Asia. The company’s main business interests are in the generation, transmission and distribution of power and electricity. TNB’s CEO, Che Khalib Mohamad Noh, who lead the company to achieve a record profit of RM4.2 billion, was named as Malaysia’s CEO of the year in 2008. In reward, he was paid more than RM1 million in compensation.

5. Sime Darby


The Sime Darby company we see today is a result of a gigantic merger between of the old Sime Darby, Golden hope and Guthrie, which gave birth to the world’s largest plantation based corporation. However, the core businesses have now diversified into other fields including property, industrial, motors, energy, utility, healthcare and so on. The company now a massive number of more than 100,000 employees working in more than 10 countries worldwide.

6. CIMB Bank


If you want to work with CIMB, be prepared to work hard and rewards will come. The company does not have problems to pay up to more than 10 months bonuses if you perform really well. Just look at the CEO, Datuk Nazir Razak, who became the highest paid GLC CEOwith total earnings of about RM10 million. CIMB also has a long list of accolades under its best, such as Islamic Banker of the Year, Best Domestic Provider, Best Malaysian Equity Fund and Best Retail Banking Innovation Award.

7. Perodua


Being the country’s no. 2 car maker, Perodua or Perusahaan Otomobil Kedua wasn’t given much face and hope during its early formative years. But it persevered and proved itself not just another side kick in the corner, producing cute looking small and compact cars for the local and overseas market. The company has today proved that it won the hearts of Malaysians with many best selling cars, including Myvi, which outsold Proton Wira in year 2006.

8. UMW


UMW is one of the country’s biggest locally owned companies, with a diverse range of portfolio ranging from automotive, manufacturing, engineering, insurance, agriculture and so on. It was originally founded by a local 14-year folk by the name of Chia Yee Soh, before it changed hands and eventually ended up controlled by the Malaysian government. Its reputation and size later led to its partnership with the Toyota Motor Corporation of Japan.

9. Media Prima


As the largest media group in Malaysia, Media Prima Berhad controls several television networks, newspapers, publications and radio stations. A series of TV network acquisitions saw Media Prima becoming the sole owner of all private free-to-air television network in the country. Apart from the local operation, the company also has spread its wings overseas, with its first off-shore venture secured in Philippines last year.

10. Proton


Proton has its fair share of good and bad things. It was a promising year in 1983 when former Prime Minister Tun Dr Mahathir Mohamad unveiled the beginning of Proton and the launching of Proton Saga 2 years late. However, it suffered a number of drops and instability in the organization before the company pulled Syed Zainal Abidin from Perodua and made him the MD in 2006. Syed was quick to jump into action by initiating new models and customer retention strategy.

Who said? Zulkifli Musa said ;)

Written by Syafirul Ramli>>

July 17, 2010 at 5:05 PM

Posted in GLC

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