Many of us have been to the gym and wondered why the exercise equipment isn’t hooked up to generate electricity and feed it back into the grid. At long last a company in Florida called ReRev has answered our calls, converting existing elliptical machines into sources of power. Now when you hit the gym, you can burn off those calories while creating some renewable energy for a carbon negative workout.

Read the rest of ReRev Makes Energy Generating Gyms a Reality

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OSK Research House sees WCT Bhd (WCT) and Gamuda Bhd as potential candidates for the Low Cost Carrier Terminal (LCCT) runaway portion project amounting to RM300 million to RM400 million. OSK was commenting on rumours that past winners of the LCCT packages will not be eligible for its subsequent awards. "WCT and Gadang have both been awarded earthworks packages. We think this rumour is baseless as it would make little sense to disqualify past winners if they can submit the lowest tender price. "This is especially so given that the LCCT is privately funded," it said in a statement today. Yesterday, Cebarco-WCT Joint Venture received an award for Fit-Out works at the Bahrain City Centre worth RM467 million to build Abu Dhabi's F1 circuit. This award represents an additional RM221 million from the initial Letter of Intent (LOI) of RM246 million in August 2007. -- BERNAMA

Light rain with thunder 31°C

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66%

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10 KMH

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N (350°)

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1007 mb

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24°C

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35°C

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31°C

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6 km

Pelikan International Corporation Bhd has received an encouraging response to its proposed right issue exercise despite current volatile market conditions. The company is proposing a one-for-two rights of 169.6 million new shares at RM1.10 each which would be listed and quoted on the main market of Bursa Malaysia Securities Bhd on February 12, 2010. The group received applications for 185.2 million shares, valued at RM203.7 million, representing an over subscription rate of 9.2 per cent over the 169.6 million rights shares available for allotment. "This favourable subscription indicates investors confidence in our expansion plan and our global presence in the stationary market," Pelikan President and Chief Executive Officer Loo Hooi Keat was quoted as saying in a statement today. Saying that Pelikan was focused on growing the group's business, internationally, he added the corporate exercise would not only increase the company''s share capital base but enhance the balance sheet. With the fully subscribed rights issue, the group's share capital, as September 30, 2009 improved to RM513 million from RM343 million earlier. - BERNAMA

Berjaya Corp said it plans to develop Malaysia's first large-scale solar photovoltaic power plant in central Selangor state, estimated to cost about RM180 million. The 10-megawatt plant, to be located on a 50-hectare site, will be ready by 2011 and be able to generate power to supply electricity to 3,000 homes, it said in a statement today. The project is a "precursor" to developing a 50-megawatt solar photovoltaic power plant in the future should the first plant be successful, it said in a statement today. - Bloomberg

MMC Corp, a Malaysian power, port and construction group, said Feizal Ali has tendered his resignation as chief executive officer for its international business with effect May 3. Feizal has also quit as a board member, MMC said in a statement today. - Bloomberg

Malayan Banking Bhd's (Maybank) pre-tax profit for the first half year ended December 31, 2009 rose 38.8 per cent to RM2.6 billion from RM1.8 billion in the previous corresponding period. Its revenue increased by 35.5 per cent to RM6.4 billion from RM4.7 billion in the same period last year, while net profit rose by 43.5 per cent to RM1.9 billion from RM1.4 previously. Maybank president and chief executive officer, Datuk Seri Abdul Wahid Omar, said the robust performance was achieved on the back of a significantly improved results across all business sectors. He said this when announcing Maybank group's interim results for the half year ended December 31, 2009 today. -- 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.

HONG Leong Bank Bhd, Malaysia's sixth-biggest lender, fell to its lowest level in more than three months after rejecting a request by some shareholders of EON Capital Bhd to maintain its takeover offer until after a meeting to elect new directors. Its stock fell 2.5 per cent to RM7.70 at 9:25 a.m. local time, set for its lowest close since Nov 2. - Bloomberg

Dimension stones manufacturer, Hock Heng Stone Industries Bhd, hopes to raise RM8.4 million from its initial public offer (IPO), Chairman and Managing Director Low Kim Hock said. The company, which is enroute for a Main Board listing end-March, would set aside RM4 million from the proceeds for capital expenditure and RM2.12 million for quary operations. "Some RM800,000 will be used to fund our new RM5.7 million office-cum-secondary processing plant in Subang," he said, adding that the balance would be funded by internally generated funds and borrowings. The plant would be ready in the third-quarter of this year, Low told reporters at an underwriting signing agreement between Hock Heng and Public Investment Bank here today. The company also owns a manufacturing plant in Melaka and a processing plant each in Pahang and Johor. "Moving forward, we aim to further strengthen our delivery infrastructure in Peninsular Malaysia by setting up more sales office and secondary processing plants. "Not only that, we are also planning to set up a sales office and warehouse in the northern region in light of growing development," he added. Hock Heng is offering 15.3 million new ordinary shares at 55 sen each, out of which six million would be offered for public subscription, 7.3 million for private placement and RM2 million for eligible directors, employees and business associates. Public Investment Bank is the adviser, underwriter and sole placement agent for the IPO while Mercury Securities Sdn Bhd and JF Apex Securities Bhd are the co-underwriters. -- BERNAMA