Thursday, October 28, 2010

20101028 0940 Malaysia Corporate News.

India PM urges Malaysian firms to tap USD1trn infra market
India PM Dr Manmohan Singh is encouraging Malaysian companies to participate in the potential infrastructure investment of about USD1tn under India's 12th Five Year Plan starting 2012. Its 11th Five Year Plan that ends next year has targeted investment in infrastructure of USD500bn but the sum was anticipated to double as inadequate infrastructure was a major constraint to India's performance. (BT)

More investments from India on the way
In line with India PM Dr Manmohan Singh’s visit to Malaysia, a few key investments from Indian companies have been announced. These include Biocon Ltd’s RM500m investment for a biomanufacturing, research and development facility in Iskandar Malaysia due to start operating by 2014 and Manipal Education’s RM650m investment over a 5-year period to build an international university in the vicinity of KL. (BT, Bernama)

Presentations made on KL-Singapore high speed train project
Several companies made presentations to the NKEA about three months ago on the Kuala Lumpur-Singapore high-speed train project, industry sources say. Among them were YTL Corp and Hartasuma SB, which was said to be partnering a Chinese state-owned firm. Some of the companies have proposed to undertake the highspeed rail project for between RM8bn and RM14bn. A Government source said the project could be worth RM10bn to RM12bn, and that it would take five to eight years to complete as it will cover 300km. (BT)

EPF-UEM offer leaves major PLUS investor cold
A major shareholder of PLUS Expressways is "not happy" with the EPF-UEM Group's takeover price for the firm, and may consider other bids, two sources say. KWAP, the civil servants' pension fund which owns a 5.2% stake in PLUS, believes that PLUS deserves a better price, said the sources, who have direct knowledge of the matter. (Reuters)

MK Land clinches RM4bn project in Bangalore
MK Land sealed an agreement with Embassy Group of India to develop a RM4bn “affordable homes” project in North Bangalore, India. The development will comprise 14,400 residential units with 2m square feet of commercial space. It will be carried out by MK Embassy Land, which is a joint venture between MK Land (47.5%), Embassy Group’s subsidiary Star Dreams Pte Ltd (47.5%), and Emkay Group’s subsidiary, MKN Embassy Development (5%). (Financial Daily)

Naim gets RM168m job in Sarawak
Naim Holdings’ wholly owned subsidiary NCSB Engineering SB has been awarded a RM168m contract by Jabatan Kerja Raya, Kuching. The contract is for the design and construction of the Bengoh Resettlement Scheme. (Financial Daily)

Exciting times ahead for Dialog
Dialog Group is gearing up for exciting times ahead with the multi-billion-ringgit independent deepwater petroleum terminal project at Pengerang, Johor, which will turn it into a regional oil storage and trading hub by 2017. “There are tremendous spinoff opportunities from the Pengerang project and it may eventually attract total combined investments of up to another RM95bn from other companies and O&G industries,” MD Ngau Bonn Keat said. (Financial Daily)

Tanjung Offshore gets RM22m vessel contract
Tanjung Offshore has received a RM22m contract from Carigali-PTTEPI Operating Company SB to supply a tug and utility vessel. The contract was for a primary duration of three years. The vessel would be used to support the offshore operations in block B-17 in the Malaysia-Thailand Joint Authority development area. (Financial Daily)

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