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.

As battery manufacturers race to produce more efficient lithium-ion batteries for electric vehicles, some scientists are looking to make the cars themselves a power source. Researchers are currently developing a new material that can store and release electrical energy like a battery. Once perfected, scientists hope the substance will replace standard car bodies, making vehicles up to 15 percent lighter and significantly extending the range of electric vehicles.

Read the rest of Car Bodies Could Store Energy Like Batteries

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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.

THE Malaysian debt capital market is set for a rebound in 2010 following an uptick in bond-market activity since the second half of last year and as the economic recovery gains traction this year. In a statement here today, RAM Rating Services Bhd said the uncertainties weighing down the health of the domestic economy throughout 2009 had, undoubtedly, influenced overall market sentiment. This, it explained, had been apparent in the pricing hurdles and investors' diminished risk appetite as the market only favoured debt papers with at least double-A ratings. RAM rating said the rated value of newly issued private debt securities (PDS) came up to RM61.0 billion last year. Of this, RM46.9 billion was rated by RAM Ratings, translating into approximately 77 per cent of the rated market. Nonetheless, it highlighted, actual fresh PDS issuance only amounted to RM20.8 billion -- a 31.8 per cent year-on-year drop amid the bleak economic and investment landscape last year. Looking ahead, however, RAM Ratings expects about RM55 billion - RM60 billion of gross corporate and sukuk issues in 2010. In contrast to the generally subdued bond market, the growth of the sukuk segment remained resilient in 2009 as sukuk issues made up 68.1 per cent of the total rated PDS, while actual sukuk issuance summed up to RM9.6 billion -- some nine per cent higher year-on-year. As the global economies have begun showing signs of stabilisation, RAM Ratings expects Malaysia's gross domestic product (GDP) growth to come in at 4.9 per cent in 2010. This is on the back of increased domestic spending arising from continued government expenditure and private consumption, a gradual recovery in global demand and accommodative monetary as well as fiscal policies. "From a macroeconomic perspective, the outlook on the Malaysian bond market hinges on the ongoing rollout of the various stimulus packages and allocations under Budget 2010, which we anticipate will necessitate further funding," said its Chief Executive Officer, Liza Mohd Noor. "We also expect government-related infrastructure projects and banks' capital-raising efforts to account for the bulk of the debt capital market's activity this year," she added. According to Liza, conducive fund-raising conditions and a brighter economic outlook, will also encourage corporates to seek additional funding to fuel their growth. With the normalisation of external conditions, a steadily recovering domestic economy and expectations that Bank Negara Malaysia will keep its benchmark rates intact until the second half of 2010, she believes it is an opportune time for corporates to raise funds, whether for new funding, refinancing or building up their war chests. Moving into 2010, RAM Ratings has a favourable view of rubber-glove manufacturers and also support services for the oil and gas sector. "The resilience of the former in 2009 was as expected.We remain upbeat that companies operating predominantly in Malaysia, will enjoy stable demand as Petronas has reaffirmed its upstream commitments up to 2012," it noted. BERNAMA

INGRESS Corp, a Malaysian auto-parts supplier, said it won a bid to provide sash products for General Motors Thailand for a new pick-up truck aimed at the Thai and Brazil markets. The sales contract is valued at 974 million baht ($29 million) over seven years, Ingress said in a statement today. Bloomberg

SUBSIDIES for industries and consumers must be restructured and gradually phased out, and greater domestic competition must occur to give freer rein to private initiatives and market forces, Prime Minister Datuk Seri Najib Tun Razak said today. "Better allocation of national resources which have been somewhat misallocated because of massive subsidies must be addressed," Najib said in his keynote address at the 1Malaysia Economic Conference organised by the Associated Chinese Chamber of Commerce and Industry of Malaysia in Kuala Lumpur. According to him, the country may not be able to afford over-subsidised and under-priced energy. Najib also said that the nurturing of infant industries must be done differently and based on skills, technology, access to capital and marketing support. "Not on protection. We must be loyal as a domestic champion because domestic champion can become a regional champion and global champion," he said. "The sooner we realise these realities, the better it will be for all of us." Najib said the government was in the process of streamlining institutions, policies and procedures to make it easier for investors to invest. "What we require is not just tangible private investment but also intangible," he said. A study by the World Bank showed that 60 to 80 per cent of the country's wealth could be in the form of intangible assets such as proprietary technologies, intellectual property, brand names and institutions. Malaysia needed to do more to create these intangible assets because investment in these assets was extremely critical, Najib said. "Look at the high income countries, their high-value industries and corporations have a high ratio of intangible investment," he said. BERNAMA

Thunder 27°C

Humidity:

88%

Wind Speed:

13 KMH

Wind Direction:

SSW (200°)

Barometer:

1008 mb

Dewpoint:

25°C

Heat Index:

30°C

Wind Chill:

27°C

Visibility:

8 km

WCT Bhd, a Malaysian construction company, said its joint venture unit signed a RM467 million contract for the "fit-out works" for a hotel in Bahrain. WCT signed the contract with MAF Investments Bahrain BSC, it said in a statement today. Bloomberg

SHARE prices on Bursa Malaysia continued to register losses today on lack of institutional buying, dealers said. The FTSE Bursa Malaysia KLCI Index fell 12.68, or 1 percent, to close at 1,235.22, its lowest level since Oct. 13. Twenty-two stocks declined and five rose on the 30-member gauge. In the market, 769 million shares changed hands, lower than the three-month daily average of 931 million shares. Dealers said the bearish sentiment was aggravated by rising sovereign debt woes in Europe and weaker regional markets. Maybank Investment Bank Bhd said the market could head downwards towards its support level on further pre-Chinese New Year squaring activities. Its Head of Retail Research, Lee Cheng Hooi, believed the Year of The Tiger would bring about nasty surprises for the local equity market, which was grossly overbought. "Do bear in mind that 1986 and 1998 brought about crisis low prices for the FBM KLCI. This year (2010) is the Year of the Tiger too and it would be synonymous with the historical 1986 and 1998 cycle lows for the FBM KLCI," he said. Berjaya Corp, a Malaysian property, betting and insurance group, rose 3.3 percent to RM1.26, the highest close since Jan 25. The Edge weekly newspaper reported it may receive a Vietnam gaming license. CSC Steel Holdings Bhd, a steel product producer, climbed 3.9 percent to RM1.59, the highest close since May 16, 2008. The company swung to a profit of RM37.1 million from a loss of RM42.1 million after sales climbed. Evergreen Fibreboard Bhd, a panel board maker, added 1.5 percent to RM1.40, the first gain in three days. The company may be in a net cash-positive position by the end of next year, the Edge weekly newspaper reported, citing Chief Operating Officer Kuo Jen Chiu. The company has free cash flow of more than RM100 million ($29 million) a year and will settle loans amounting to RM300 million on schedule over the next four years, the report said. Pelangi Publishing Group Bhd, a book publisher, advanced 9.2 percent to 53.5 sen, the second increase in three days. The company said it plans a bonus share issue and a stock buyback. Pelangi plans to issue one new share for each four held by shareholders and it plans to buy back as much as 10 percent of its equity, it said in a statement. Scomi Marine Bhd, a marine transport services operator, lost 3.2 percent to 46 sen, the most since Jan. 26. The company said it agreed to sell a 29 percent stake in CH Offshore Ltd. to Falcon Energy Group for S$143.5 million in cash. The Finance Index plumetted 167.171 points to 10,775.56, the Industrial Index lost 14.5 points to 2,561.18 and the Plantation Index fell 18.93 points to 6,130.12. The FBM Emas Index plunged 85.91 points to 8,319.62, the FBM70 Index gave up 59.9 points to 8,180.78 and the FBM Ace Index wiped out 50.78 points to 4,263.85. Decliners led advancers 608 to 119 while 214 counters were unchanged, 386 untraded and 25 others weresuspended. Of heavyweights, Sime Darby lost five sen to RM8.31, Maybank slipped nine sen to RM6.72, CIMB Group declined 20 sen to RM12.22 and Maxis eased three sen to RM5.33. Among actives, KNM Group declined three sen to 78.5 sen, Malaysian Res Corp decreased four sen to 13 sen but ETI Tech rose 1.5 sen to 46 sen and Talam lost half-a-sen to 11.5 sen. Bloomberg, Bernama

OSK-UOB Unit Trust Management Bhd has increased the size of the OSK-UOB Energy Fund to 600 million units. This is an increase of 200 million units from the initial 400 million units offered during the fund''s launch in March 2009. "The increase is due to the strong and consistent demand for the units from investors. "The Energy Fund aims to provide long-term capital appreciation through an investment that is linked to the global energy sector," Chief Executive Officer Ho Seng Yee said in a statement. Since its launch, investors have received total returns of 13.7 per cent against its offer price of RM0.50 per unit. BERNAMA