Wednesday, July 7, 2010

20100707 1144 Malaysia Corporate News.

Government proceeds with feasibility study on MRT
The Government has appointed two independent engineering firms to carry out a feasibility study on the proposed RM36bn mass rapid transit (MRT) project jointly proposed by Gamuda and MMC Corp. The Edge Financial Daily learned that the Government has appointed Minconsult SB and Canadian-based Andercon Technologies Ltd to conduct the study. The appointment of independent consultants to undertake the feasibility study has raised expectations that the Government will likely accept the Gamuda-MMC proposal. (Financial Daily)

BCorp inks deal in Xinan
Berjaya Corp (BCorp) has signed a concession agreement with the Xinan Public Asset Investment Co Ltd (XPAI) to construct two wastewater treatment plants in Xinan County, China for 200m renminbi (about RM97m). Under the deal inked on 5 July, BCorp will build, operate and maintain the proposed Jinben industrial wastewater treatment plant and Jiangnan New District sewage treatment plant for 25 years and then transfer the rights back to XPAI. Construction works on the Jinben plant are expected to start next year and that of the Jiangnan plant in 2012. Both plants are slated to be completed within a year. (BT)

Bina Puri yet to get letter of award for LCCT
Bina Puri Holdings said it has yet to receive the letter of award for the third package of Malaysia Airports Holdings’ (MAHB) new low-cost carrier terminal (LCCT) worth close to RM1bn. “However, we are liaising with MAHB. We expect to receive the letter of award soon. We will make the necessary announcement if and when we receive the letter of award,” it told Bursa Malaysia yesterday. (BT)

PLUS gets green light for fourth lane
PLUS Expressways said its subsidiary, Projek Lebuhraya Utara-Selatan (PLUS), has received nod from the Government to undertake the construction of the fourth lane along certain stretches of the North-South Expressway and the New Klang Valley Expressway. They are Shah Alam to Rawang, Shah Alam to Jalan Duta and a section from Nilai (North) to Seremban. The construction cost is estimated at RM1.143bn. PLUS Expressways said details of the funding for the proposed fourth lane widening works are currently under review and being discussed with the government, and are subject to the approval of the government, bondholders/lenders and the board of PLUS and/or PLUS Expressways. (BT)

Top Glove settles claims with Tillotson
Top Glove Corp said both the group and US based Tillotson Corp have agreed for a settlement whereby all claims in the latter's action against Top Glove’s three subsidiaries — Top Glove SB, TG Medical SB and TG Medical (USA) Inc, and all counterclaims in this action against Tillotson, will be dismissed with each party to bear its own costs, expenses and attorney’s fees. In a filing to Bursa Malaysia, Top Glove said the settlement will not have any material or adverse impact on the financial performance and net asset of the Top Glove group. (BT)

Lion Industries in tripartite venture for RM30m slag processing plant
Lion Industries Corp has proposed to partner two foreign steel firms to set up a RM30m slag processing and metal extraction plant at its existing facility in Banting, Selangor. “Under the proposed joint venture, Lion Industries will be able to benefit both as a shareholder and from having its steel mills recover iron metal from its slag at lower than market price,” it told Bursa Malaysia yesterday. The joint venture with US-based Tuner Industry & Trade Corp and Bichain Trading Co Ltd of Taiwan would start in the second half of this year. (StarBiz)

Tesco among bidders for Carrefour units
UK’s Tesco Plc, Japan’s Aeon Co, Hong Kong’s Dairy Farm International Holdings Ltd and Thailand’s Big C Supercenter Pcl may be putting in bids for Carrefour SA’s Malaysia, Singapore and Thailand assets, Bloomberg reported, quoting sources. It also said South Korea’s Lotte Group was earlier approached to make a bid. According to the sources, Carrefour has approached potential buyers and may ask for bids by early September and the combined operations could fetch USD800m to USD1bn. Sources said the world’s second largest retailer would consider selling the units separately as potential buyers might not be interested in bidding for all three combined. (StarBiz)

No comments: