Solar engineers have long sought to develop an energy-generating glazing that is as capable of producing power as it is easy on the eyes. The feat may just have been accomplished by The Center for Architecture Science and Ecology (CASE), who have developed a concentrating solar system that is not only modern and attractive but extremely efficient and cost effective. The system is made up of rows of pyramid-shaped glass receptors that move with sunlight throughout the day, magnifying the incoming light and capturing it in a small photovoltaic cell located in the center of each pyramid.

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Wi-Net Technology Sdn Bhd, provider of Wi-Fi technology Winet broadband, is targeting nationwide Internet access coverage by year-end. Its chief executive officer, Lee Wai Tuck, said the company would spend RM200 million in the first phase to deploy the services in the southern area, including Johor and Melaka, by the second quarter of this year. "The Winet broadband is capable of achieving speeds of over 50 times faster than the standard dial-up modem," he said in a statement today. He said Wi-Net aimed to play a positive role in assisting the country to achieve 50 per cent broadband Internet access among households. BERNAMA

LONDON Biscuits Bhd (LBB) today entered into an agreement for the proposed acquisition of a 32 per cent stake in TPC Plus Bhd for RM7.68 million. In a statement, LBB said the acquisition would allow the company to secure an important material component of its key product line up while simultaneously deriving cost savings via a fixed price strategy. LBB is one of the biggest cake confectionery manufacturers in South East Asia while TPC Plus is involved in poultry farming and other associated activities such as manufacturing of animal feed. LBB Group Chief Executive Officer Datuk Seri Liew Yew Chung said the company would benefit from cost savings and a consistent supply of quality eggs. BERNAMA

Cumulonimbus clouds observed 29°C

Humidity:

74%

Wind Speed:

Calm

Barometer:

1009 mb

Dewpoint:

24°C

Heat Index:

33°C

Wind Chill:

29°C

Visibility:

8 km

FIXED-LINE telecommunications solution provider TIME dotCom Bhd (TdC) expects to retain positive growth, particularly with the launch of its new service TIME Fibre Broadband, said chief executive officer Afzal Abdul Rahim. The company posted RM24.454 million in pre-tax profit in the second quarter ended June 30, 2009 on the back of RM67.898 million in revenue, which saw the company moving back into the black for the first time in 14 years. It also recorded RM11.941 million pre-tax profit in the third quarter ended Sept 30, 2009, raking in RM69.931 million in revenue. "We see this momentum continuing especially with the launch of the product today," he said at the TIME Fibre Broadband launch. Afzal said the company would continue to drive sales and increase market share in areas like wholesale, corporate and small-and-medium enterprises. "We'll be rolling out more exciting and innovative products in the wholesale and business market segments," he said. Afzal said TdC was planning to extend by 85 per cent its fibre broadband coverage in high-density Klang Valley in the second quarter next year. Its latest service, TIME Fibre Broadband, a high-speed Internet access, offers users at a speed of up to 50 megabits per second currently available in Mont Kiara area. "We're looking into expanding the service to other areas under the second and third phases, with more locations undergoing testing and slated for installation of the service," he said. Afzal said TdC targeted between 15 and 20 per cent of potential customer base for area in coverage. He said TIME Fibre Broadband is targeted at young professionals, high bandwidth users and early adopters who are constantly blogging, gaming, social networking and downloading. "The service is for internet users craving for fastest internet connection without being hindered by slow and unreliable connection speed," he said. TIME Fibre Broadband is being offered at competitive rates ranging from RM149 to RM329 for 2Mbps to 10Mbps service package, Afzal said, adding that customers will be able to experience a boost speed of up to 50mbps on demand. BERNAMA

PARKSON Holdings Bhd subsidiary Serbadagang Holdings Sdn Bhd has proposed to acquire 43.31 per cent interest in QingDao No.1 Parkson Co Ltd from China Qingdao No.1 Store for RM92.5 million. The acquisition will enable the group to tap into a larger share of the earnings of Qingdao Parkson, whereby its shareholding in Qingdao Parkson will increase to 95.91 per cent from 52.6 per cent. In a filing to Bursa Malaysia today, it said the acquisition was expected to be completed by first quarter of 2010. Qingdao Parkson's profits, it said, had been improving for the past three years, recording audited consolidated net profits of RM2.3 million, RM4.6 million and RM12.9 million in 2006, 2007 and 2008 respectively. It was also expected to generate further profits in the future, Parkson added. -- BERNAMA

OCBC CAPITAL (MALAYSIA) SDN BHD said today Bank Negara has approved one year extension time from Oct 18, 2009 for the company to comply with the conditions imposed with regard to the takeover of PacificMas Bhd. The takeover was completed in April 2008, it said in a filing to Bursa Malaysia. OCBC said it is required to resolve its holdings in The Pacific Insurance Bhd (PIB) and Overseas Assurance Corporation (Malaysia) (OACM) Bhd within 18 months from the date of completion. In the event of a OACM-PIB merger, OCBC is required to dispose of and limit its shareholdings in the merged entity to not more than 51 per cent, also within 18 months. - BERNAMA

HONG Leong Bank Bhd (HLBB) said it was disappointed that EON Capital Bhd had rejected its offer. "We are disappointed as we have made a fair and attractive offer. "We were hoping that the EON Capital board would table our offer to shareholders for their decision," said Hong Leong Financial Group Bhd President and HLBB Director Raymond Choong said in a statement today. HLBB's offer on Jan 21 was to acquire the entire assets and liabilities of EON Capital, the holding company of EON Bank Group, at an aggregate purchase consideration of RM4.9 billion to be satisfied fully in cash, that translates to a price of RM7.10 per EON Capital share. It said that as the EON Capital board of directors had decided not to table the offer for consideration and approval by shareholders nor submit an application to the relevant authorities for approval, the offer lapsed. In a filing to Bursa Malaysia, EON Capital said that after fully consulting its advisers and considering all available information, its board of directors resolved that the offer was not in the interests of the company and its shareholders based on, among others, the purchase consideration in relation to the offer. -- BERNAMA

A total of RM1.05 billion worth of construction contracts have been awarded in January, according to ECM Libra Investment Research. In its research note, ECM Libra said they included the oil terminal engineering, procurement and construction works valued at RM593.3 million awarded to Singapore-listed PEC Ltd by ATT Tanjung Bin Sdn Bhd and the second package of Low-Cost Carrier Terminal contract worth RM291.1 million to Gadang Holdings Bhd. Other jobs involved the RM134.2 million contract to Bintai Kinden Corp Bhd by National University of Singapore and the RM35.8 million contract to Hock Seng Lee by Public Works Department, it said. ECM Libra said the construction sector's mid-term outlook would depend on the 10th Malaysian Plan which would be unveiled in June this year. "As such, we maintain our neutral stance on the construction sector and advise investors to take profit on news of jobs win," it said. It said the expected road jobs worth RM68.6 billion to be awarded by the Indian government by June this year would be a positive news for the Malaysian construction companies which had significant exposure in the country. Among construction companies that were expected to benefit were IJM Corp Bhd, Sunway Holdings Bhd and Mudajaya Group Bhd, it said. - BERNAMA

Economy Fan Ensuite. Excluding breakfast. Hotel ChinaTown Inn, with 4 different room types, is a highly rated budget hotel ideally located in the heart of Kuala Lumpur's Chinatown. This 2-star hotel offers cost-conscious travellers international standard accommodation and services at affordable prices. At the Hotel Inn, you are surrounded by an open air shopping paradise with a myriad of side-walk eateries and shop corners. Hotel ChinaTown Inn offers attractively furnished rooms which are fairly roomy and quiet with air-conditioning, carpet flooring and an attached bathroom. The Hotel is highly recommended in the Lonely Planet Travel Guide Book (Issue 2001) for "Far better value, and thoroughly recommended, with spotless hotel-quality rooms.