8/14/2019 TheSun 2009-11-04 Page14 Significant Success in
Islamic Finance Says Pm
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business14 theSun | WEDNESDAY NOVEMBER 4 2009
Significant success inIslamic finance, says PMby Tim
[email protected]
KUALA LUMPUR: Malaysia has achievedsignificant success in
Islamic finance by anymeasure, says Prime Minister Datuk Seri
NajibAbdul Razak.
The premier said as of the end of thisyears second quarter,
Islamic financial serviceaccounted for close to 19% of total
banking as-sets with total financing amounting to RM155
billion and constituting 15.5% of the bankingindustrys total
financing portfolio.
Tremendous growth was also experiencedin the takaful sector in
which fund assetsregistered an increase of 19% for the same
pe-riod, said Najib, in his keynote address at the6th Annual Kuala
Lumpur Islamic FinanceForum yesterday.
Malaysias Islamic capital market is one ofthe most outstanding
and has been growing atexponential rates with the full complement
ofproducts, infrastructure, institutions, interme-diaries and
investors, all contributing to the
depth and breadth of the marketplace.In terms of size, Malaysias
Islamic capi-
tal market had reached RM803 billion as atend-August 2009,
representing 54% of BursaMalaysias market capitalisation, said
Najib.
Sukuk has also maintained its dominancein the Malaysian bond
market, accounting for58% of the total bond market.
Najib also said that the government has setout plans under the
Shaping Islamic FinanceTogether initiative to position Malaysia as
an
international Islamic financial centre.He also said that
Malaysians cannot simply
be observes but must be activists workingtogether in this
dynamic phase of Islamicfinancing development in the country.
The Islamic Finance Forum, to be held untilNov 6 at Nikko Hotel
Kuala Lumpur, is aimedat bringing together scholars,
practitionersand industry players in Islamic banking andfinance to
jointly participate in exploring andunlocking the potential of the
industry, besidesdiscussing mechanisms to further enhancethe
sector.
Sony launches high-definition IP network security camerasSony
launches high-definition IP network security camerasby Alyaa
[email protected]
PETALING JAYA: Sony Malaysia yes-
terday officially launched the latestaddition to its security
solutionsrange SNC-RH124 and SNC-RH164,the industrys first
high-definition(HD) pan-tilt-zoom IP network secu-rity cameras.
The security sector, which coversboth the traditional analogue
andIP network-based products, has aworldwide market worth US$8
bil-lion (RM27.2 billion).
While the analogue market isforecast to grow at a steady rateof
4% for the next five years, theIP market which is further
dividedinto standard definition (SD) andHD products is forecast to
grow at27% for the same period, said SonyMalaysia general manager
for busi-ness to business solutions division,
Fujii Akio.This year, SD products repre-
sented 72% of the market whileHD took up the remaining 28%.
By
2013, the figures are expected tobe level at 50% each signifying
ashift towards the HD market, saidAkio during the launch held at
ahotel here.
Akio attributed the inevitablechange to the fact that
securitysector is the last stronghold of SDand almost all LCD panel
displaysare already in 16:9 HD standard.
SD content projected on aHD screen will cause the
imagesdisplayed to be pillar-boxed anddistorted as it will be
stretched tofit the screen settings, said Akio.
Sony product manager, securitysolutions Asia Pacific, Mark
Franklinsaid that the SNC-RH124 and SNC-RH164 were created with 10x
opticalzoom, resulting in increased clarity
and visibility, as well as the abilityto pan 360 degrees while
capturingand streaming HD video at up to 30frames per second.
Some of the cameras uniquefeatures include a visibility
enhancerthat delivers images in challenginglighting conditions;
Dynamic NoiseReduction (XDNR) that eliminatesimage blur during
low-light capture;and advanced Distributed EnhancedProcessing
Architecture that helpsto render dual streaming images inHD,
explained Franklin during hisproduct presentation.
To complement the HD securitycameras, Sony also unveiled its
HDrecording solutions to expand exist-ing video security systems
duringthe event.
The SNC-RH124 and SNC-RH164pan-tilt-zoom cameras as well as
theencoders are currently available instores nationwide.
1st Avenue toopen in Penangnext yearby Opalyn
[email protected]
GEORGE TOWN: Penang is setto have another new-conceptshopping
mall with the im-minent opening of a RM300million shopping mall
right nextto Prangin Mall and Komtar bythe third quarter of next
year.
The retail complex, 1stAvenue, is jointly developedby three
property and retailheavyweights; Asian Retail MallII Limited (ARML
II), BelleviewGroup and Lion Group.
Ungku Suseelawati UngkuOmar, regional head of retail(South East
Asia) of DTZ Deben-ham Tie Leung (M) Sdn Bhd, theprojects leasing
agent, said themall will have about 300 units ofretail shops.
Apart from Parkson Depart-ment Stores, which is the
anchortenant, we also have four junior
tenants lined up for the mall,she said during a press
confer-ence before the official launchof 1st Avenue and signing
ofanchor tenancy agreement withParkson at Traders Hotel yester-day
morning.
Akio at the launch of Sony HD PTZ IP network securities
cameras.SAIFULHIZAMM
ANSOR/THESUN
249 swimming poolsunder one roofPETALING JAYA: KL Metro Group,
the developer of theaward-winning Legend International Water Homes
in PortDickson, has created a record of constructing 249 swim-
ming pools under one roof.Its managing director, Datuk Low Tak
Fatt, said thecompany will list its achievement in the Malaysia
Book ofRecords.
The achievement also marks a national feat for thelocal real
estate and construction sector, said Low.
There are 249 units of floating houses in the secondphase of the
Legend International Water Homes projectand we decided to build a
swimming pool for each unitbecause most of our buyers wanted
privacy and the luxuryof owning their own pool, said Low.
The second phase was launched on Nov 1 and all 249units have
been snapped up. Among the buyers are foreign-ers.
The first phase comprising 329 units were sold out morethan a
year ago.
The property also won the CNBC International PropertyAward in
London in 2007.
Low said KL Metro will continue to build award-win-ning houses
to meet the high demand for niche propertiesin the country.
He said the company will embark on its next project,the Hibiscus
Water Homes in Teluk Kumbar, Penang early
next year.The only other development in Malaysia to have
largenumber of swimming pools under one roof is the One
KLdevelopment in the KLCC area.
Comprising 94 units of luxurious condominiums, OneKL, developed
by One KLCC Sdn Bhd, pioneered the oneapartment, one swimming pool
concept.
