A 20-stick pack of cigarettes costs RM10 from today
Federation of Sundry Goods Merchants’ Association president Lean Hing Chuan said the association received a letter from a tobacco company on Saturday informing the association of the price increase effective today. Deputy Finance Minister Datuk Donald Lim confirmed yesterday a 70 sen increase from the previous price of RM9.30. (TheStar)
MOH evaluates alternatives for support service contracts in East Malaysia
The Ministry pf Health (MOH) recently received other bids, besides Faber Group’s, to provide hospital support services (HSS) to public hospitals in Sabah and Sarawak, sources said. MOH is currently determining the best offer so it will not have to bear (high) cost increases. It is learnt that Faber, which is currently servicing 79 hospitals, recently applied for the renewal of its concession to provide HSS for public hospitals in Perak, Kedah, Perlis, Penang, Sabah and Sarawak. However, in it submission Faber had asked for a hike in rates that was higher than MOH expected. (StarBiz)
UEM unaware of MMC Corp takeover bid
UEM Group Bhd is not aware of any market talk of a buyout of the group by MMC Corporation Bhd, said UEM managing director Datuk Izzaddin Idris today. Based on media speculation reports, MMC has made an offer to buy UEM Group for RM15.6 billion. Khazanah Nasional Bhd, which controls UEM Group, has not given any signal to the group on the proposal. (BT)
Kencana rumoured to take over Labuan Shipyard
Kencana Petroleum is poised to take over the Labuan Shipyard and Engineering SB, a wholly owned subsidiary of UMNO-linked Realmild SB, sources say. The takeover is believed to beef up its facilities to qualify for a RM3.8bn contract to be awarded by Petronas. The four year contract is for the top side maintenance of oil rig platforms as well as hook-up and commissioning services for all of Petronas’ oil rigs. It is unclear whether Kencana will be leasing the fabrication yard from Realmild or taking over the existing lease, effectively leasing the asset directly from Ministry of Finance. Sources say it may even buy the asset from the ministry. (TheEdgeWeekly)
Proton in global car talks
National car maker Proton has started talks with companies in Japan and Europe to look into possible collaborations to produce its first concept global car, Proton Emas. Discussions with the companies would be concluded by the end of the year, Proton Holdings Bhd group managing director Datuk Syed Zainal Abidin Syed Mohamed Tahir told reporters at the Porte de Versailles exhibition hall at the Paris Motor Show 2010. (TheStar)
GPlus major shareholder buys into Equator
Datuk Ooi Kee Liang, who was at the centre of the shareholder feud in Golden Plus (GPlus) two years ago, has emerged as the single largest shareholder in Equator Life Science. Ooi, via his investment vehicle Ideal Sun City, bought 75.2m shares or 32% in the loss making biotechnology company last Thursday. Ooi is now the Executive chairman of Equator, taking over Koh Ah Keng who sold his stake to Ooi. Equator which has defaulted its loan payments have yet to see a turnaround after posting losses. It is unclear what Ooi has up his sleeves to turnaround the company. (Financial Daily)
Notion Vtec to gear up after shelving share placement
Hard Disk Drive component manufacturer Notion Vtec plans to gear up after shelving a plan to place out a 10% stake in the company the company following the fall in its share price. The company is in the process of securing a bank loan of RM80m to finance the expansion of a new plant. (Financial Daily)
Carlsberg Malaysia plans two new premium brands
Carlsberg Brewery Malaysia, the country’s biggest brewery company, will look to introduce up to two new premium beer brands in the local market within the next year. Although its managing director Soren Ravn declined to reveal the brand names, he said the company was looking to add to its present stable of premium beer brands. Carlsberg imports international beer brands such as Hoegaarden, Stella Artois, and Budweiser. (StarBiz)
MRT project may exceed RM36bn
The proposed Mass Rapid Transit (MRT) project for "Greater Kuala Lumpur (KL)" may cost more than the initial estimates of RM36bn, given the various phases of its implementation, Land Public Transport Commission (LPTC) chairman Tan Sri Syed Hamid Syed Jaafar Albar said. The government is doing a technical study on the MRT project to ascertain the viability and cost of the multi-billion ringgit project. It is due in the middle of this month. (BT)
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