Thursday, March 17, 2011

20110317 0918 Malaysia Corporate Related News.

KLCI chart reading : correction range bound downside biased but still above previous low support level.


SEGi named to lead ECCE project
SEG International (SEGi) has been appointed by the Government to lead the development of integrated early child care education (ECCE) under the National Key Economic Area. SEGi told Bursa Malaysia yesterday it would lead the initiative in training and developing early childhood and childcare practitioners. It will also play a lead role in coordinating the establishment of teacher training centres that provide pre- and in-service ECCE courses recognized by Malaysian Qualifications Agency. (StarBiz)

Pharmaniaga gets 10-year govt deal
Pharmaniaga has signed a 10-year concession deal with the Government for the privatization of the medical lab and store. The deal was signed with the Ministry of Health and it covers the right and authority to buy, store, supply and distribute the approved products to the public sector customers. The agreement starts from 1 Dec 2009 until 30 Nov 2019. (BT)

SingPost rules out Pos stake
Singapore Post (SingPost) is not bidding for Khazanah Nasional's 32.2% stake in Pos Malaysia and will also not buy any more shares in courier company GD Express Carrier (GDEX). The postal company, valued at SGD2.2bn (RM5.36bn), on 15 March boosted its stake in GDEX to 27% from 5% as it seeks to expand in the region. The deal raised eyebrows as it was done a day before Khazanah's tender deadline for Pos Malaysia. (BT)

Tomei acquires Goldheart operations
Tomei Consolidated is buying the retail operations of Goldheart in Malaysia for RM5.6m. In a statement to Bursa Malaysia, the company said the deal will help it expand and improve its market share in the retail jewellery industry. TCB and its assignee will enter into a fresh agreement or novation agreement with the landlord of the existing retail outlets to continue Goldheart retail operations in Malaysia. (BT)

Shin Yang resumes services to N-E Asia
Shin Yang Shipping Corp said its international shipping services serving the Northeast Asia route have resumed operations. “It has resumed to all other Japanese ports save for Sendai Port which was affected by the massive 8.9 magnitude earthquake and tsunami which struck Japan last Friday” it said. (BT)

Sime Darby : Bakun dam to generate power in July. The Bakun hydroelectric dam is expected to commercially produce 300MW of electricity in July. (Source: The Edge Financial Daily)

TMC: Ties up with Indon bank. TMC Life Sciences Bhd's unit Tropicana Medical Centre (M) Sdn Bhd (TMC) signed a Memorandum of Understanding (MoU) with Indonesia's Bank Riau Kepri to establish a credit card privilege discount programme. TMC is confident of achieving its 60% growth target this year through various marketing and strategic collaborative efforts with local and regional partners. (Source: The Edge Financial Daily)

SEGi: Hii ups stake to 32.2%, named to lead ECCE project. SEG International Bhd's (SEGi) group MD director Datuk Clement Hii Chii Kok has upped his stake further in the education group to 32.2%. Meanwhile, Rextar Capital Sdn Bhd ceased to be a substantial shareholder after disposing of 10.8m shares. Separately, SEGi has been appointed by the Government to lead the development of integrated early child care education under the National Key Economic Area. (Source: The Edge Financial Daily, The Star)

Aviation: Premium air travel to go down this month. The Japanese disaster will reduce premium air travel in March as it makes up 6% to 7% of the global market, the International Air Transport Association (IATA) said. It added that unrest in the Middle East and the Japanese disaster would likely hit February and March figures. (Source: The Star)              

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