6 November 2008
DRB-Hicom Partners Saudi Firms To Set Up Integrated Automotive Cluster
DRB-HICOM Bhd announced that it had signed an agreement Tuesday with the Jazan Economic City Land Limited (JEC), the Saudi Binladin Group (SBG) and GIIG International Holding Company Ltd(GIIG), to explore business prospects in respect of establishing an integrated automotive cluster project. [Bernama]
http://www.bernama.com/bernama/v5/news_lite.php?id=369457
Miti To Submit NAP Review Proposals To Cabinet Before Year-end
The Ministry of International Trade and Industry will submit its recommendations to the Cabinet before year-end after its review of the National Automotive Policy (NAP). Its minister, Tan Sri Muhyiddin Yassin, said the ministry was in the process of reviewing the NAP to ensure that this strategic industry would remain competitive. [Bernama]
http://www.bernama.com/bernama/v5/news_lite.php?id=369650
Cabinet to get auto policy review proposals by year-end
[Business Times]
http://www.btimes.com.my/Current_News/BTIMES/articles/20081105220900/Article/
7 November 2008
Firms' credit default swap exposure lower than debt
The amount of debt outstanding at General Motors Corp, Ford Motor Co, General Electric and others dwarfs the amount of credit default swap (CDS) risk on the companies, according to new data. [The Star]
http://biz.thestar.com.my/news/story.asp?file=/2008/11/7/business/2477987&sec=business
Toyota warns of earnings plunge
TOKYO: Toyota Motor Corp said yesterday annual profit is expected to plunge more than two-thirds to the lowest level in nine years, warning the global car industry faced an "unprecedented" crisis. The Japanese firm said it was reviewing its expansion plans as it became the latest car giant to reveal plunging profit due to the financial crisis, following on the heels of BMW, Nissan and Honda. [Business Times]
http://www.btimes.com.my/Current_News/BTIMES/articles/toyapf/Article/