MRT tenders will be announced by mid-year
The tenders for the Mass Rapid Transit (MRT) works will be called in April and awarded in May, according to the Land Public Transport Commission. The tenders will be called by Syarikat Prasarana Negara SB but the decision to award lies with the government with input provided parties like LPTC and the main contractor Gamuda-MMC Corp. “The final pathway for the three MRT lines are now being determined in the value management study, so the RM36.6bn project value figure could change as result. “The second and third routes will be announced in March when the urban rail development master plan is released,” said LPTC chief executive officer Mohd Nur Ismal Kamal. (MalaysianReserve)
Sunway awarded land in Singapore
Sunway Holdings together with its two Singaporean joint venture partners have been awarded the tender of a 103-year lease on a parcel of land at Yuan Ching Road for RM314.91m from the Housing and Development Board of Singapore. Sunway Developments Pte Ltd and its two Singapore-based companies Hoi Hup Realty Pte Ltd and SC Wong Holdings Pte Ltd will form a joint venture to develop the land. Sunway Development will hold a 30% equity stake while Hoi Hup holds the largest shareholding of 60% and SC Wong 10%. The development project is estimated to be completed in 48 months or earlier. (FInancialDaily)
First phase of Dialog's petroleum terminal to be ready by 2014
The first phase of Dialog Group’s RM5bn independent deepwater petroleum terminal in Johor, slated to be among the world's largest, will be completed by 2014, an official said. Dialog is leading a consortium, comprising the Johor state government and Dutch firm Vopak, in developing the terminal in Pengerang, south-east of Johor. Dialog's executive chairman Ngau Boon Keat said work on the project is expected to start this April. "We'll do it in three phases over seven years. The first, which we're targeting to complete by the end of 2013 or early 2014, will have 1.3 million cubic metres of storage capacity," he told reporters in Putrajaya yesterday. (BT)
Low family offers RM305.2m for AP Land
Low Chuan Holdings is offering 45 sen a share for all of AP Land's assets and liabilities in what is likely to be a prelude to the company being taken private. The Low family has offered RM305.2m to take over the business of Asia Pacific Land Bhd (AP Land), a 50-year old property developer, in what is likely to be a prelude to the company being taken private. AP Land is famous for building some of Kuala Lumpur's main landmarks like the Empire Tower and City Square shopping centre, which sits at the junction of Jalan Tun Razak and Jalan Ampang. The group's major shareholder is Low Chuan Holdings Sdn Bhd (LCH) with a 37% stake. LCH is owned by Low Gee Tat@Gene Low, Low Gee Teong, Low Gee Soon, Sem Siong Industries SB, Selangor Holdings SB and Low Chuan Securities SB. LCH is offering 45 sen a share for all of AP Land's assets and liabilities. The stock closed at 41 sen on Monday as trading was suspended yesterday. (BT)
Affin: Unaware of CIMB bid. Affin Holdings Bhd deputy chairman Tan Sri Lodin Wok Kamaruddin said yesterday he was not aware of rumours that Affin Bank is being eyed for a takeover by CIMB Bank. Sources close to CIMB Group said the rumour completely goes against the group's ambition to become a major regional financial player and they also think that it is not true. (Source: Business Times)
O&G: Gas Malaysia eyes Bursa listing this year. Gas Malaysia Sdn Bhd, a company that distributes natural gas to households and industries, is said to be eyeing a listing on Bursa Malaysia this year but that idea has not yet received the full backing of all of its shareholders. The company's controlling shareholder is MMC Bhd that owns 41.8% and other shareholders of the company are Petronas Gas Bhd, Shapadu Group and Tokyo Gas-Mitsui & Co. (Source: The Star)
Top Glove: To invest RM160m in Cambodian rubber plantation. Top Glove Corp Bhd is investing RM160m in Cambodia to plant rubber trees to reduce its dependency on latex, which is bought at market prices. The company is targeting to obtain 20% of its latex requirement from the plantation over time. (Source: The Star)
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