KLCI chart reading :
pullback correction upside biased.
Berjaya Corporation Submits proposal to build solar power plant in Selangor
Berjaya Corporation Bhd (BCorp) has submitted a proposal to the government to build a 100MW solar power plant in Bukit Tagar, Selangor, said its chairman Tan Sri Vincent Tan. If the proposal goes through, it will be BCorp’s first venture into the renewable energy sector. Tan said the power plant would cost RM800mil to RM1bil. For the investment to be viable, it would depend on the feed-in tariff (FiT) set by the government. Tan added that BCorp’s South Korean partner Posco Engineering & Construction Co Ltd would probably be involved in the project as it had the required expertise. – Starbiz
BCorp powers into renewable energy to diversify earnings
Berjaya Corp Bhd (BCorp) is expanding into renewable energy to diversify its earnings and the plan entails working on new sanitary landfill and wastewater management projects in China. BCorp is working on a few landfills and wastewater management projects in China and is eyeing more jobs to keep it busy for a few years. (Business Times)
TM And TTDI Land Seal Deal For High Speed Broadband Service
Telekom Malaysia Bhd (TM), Wednesday sealed a service agreement with TTDI Land Sdn Bhd, a wholly-owned subsidiary of Naza TTDI, for the provision of its high speed broadband service (HSBB) at TTDI Alam Impian, Shah Alam. The collaboration is the first of its kind between TM and a property developer in Selangor. The investment cost for the UniFi - TM's HSBB offering launched in March 2010 - project in Alam Impian will amount to RM1 million. (Bernama)
Ingress JV gets RM85m Tenaga cable project
Ingress Corporation Bhd’s joint venture has been awarded a RM85m contract from Tenaga Nasional Bhd for a transmission line in Bandar Nusajaya, Johor. Its unincorporated joint-venture between its subsidiaries, Ramusa Engineering Sdn Bhd and Multi Discovery Sdn Bhd received a letter of acceptance. (The Edge)
SEB to invest RM2.5b in a 600MW coal-fired plant
Sarawak Energy Bhd (SEB) is close to making “a final investment decision” on a new 600MW coal-fired power plant in Balingian, Mukah Division at a cost of about RM2.5b to cope with the strong demand for power from industries in the Sarawak Corridor of Renewable Energy (SCORE).If commissioned, the plant is expected to be completed by 2015. (The Star)
Can-One fails to stop Kian Joo's bonus issue
Kian Joo Factory Bhd will be able to proceed with a proposed bonus and rights issue, after Can-One Bhd's bid to stop the exercise was vetoed by the Federal Court yesterday. Can-One has since early February 2009 been trying to buy a 32.9% stake in Kian Joo for RM241.1m. (Business Times)
Zhulian 2Q net profit up 16.6% to RM21m, declares 3 sen interim dividend
Zhulian Corporation Bhd net profit for the second quarter ended May 31, 2011 rose 16.64% to RM21.01m from RM18.01m a year earlier, due mainly to increase in demands for both local and overseas markets. The revenue for the period rose to RM92.69m from RM77.92m in 2010. Earnings per share was 4.57 sen, while net assets per share was 79.7 sen. Zhulian declared a second interim single tier dividend of three sen per share of 50 sen each in respect of the financial year ending Nov 30, 2011. (The Edge)
Ngiu Kee faces suspension on July 21
Ngiu Kee Corporation Bhd faces suspension on July 21 and delisting on July 25 after it failed to submit its regularisation plan to the regulators for approval within the timeframe. Ngiu Kee failed to submit the plan to Securities Commission or Bursa Malaysia Securities Bhd. The securities of the company will be suspended from July 21 and delisted on July 25 unless an appeal is submitted to Bursa Securities on or before July 20. (The Edge)
IFCA MSC gets RM5.2m job in S. Africa
IFCA MSC Bhd has entered into a software licence and master services agreement to supply its a fully integrated e-Business Management Solution designed specifically for property companies in South Africa for RM5.2m. Its subsidiary Effica Technology (Proprietary) Ltd had entered into the agreement with Growthpoint Management Services (Proprietary) Ltd to supply and implement its IFCA Application Software. (The Edge)
Century Software gets RM1m job from pension fund
Century Software Holdings Bhd has secured a RM1m job from Kumpulan Wang Persaraan (Diperbadankan) to develop an integrated system to automate the management of pension contributions. Century Software said the contract was for eight months. (The Edge)
Ramunia submits application
Ramunia Holdings Bhd has submitted applications for its proposed regularisation plan. (The Star)
Coastal secures RM98m vessel sales
Coastal Contracts has secured contracts for the sale of a DP2-enabled maintenance and support vessel as well as two units of barges for an aggregate value of RM98m. The revenue stream from the deals was expected to contribute positively to the top and bottom line performance of the group for the financial year ending 31 Dec, 2011, the company said in a statement. The new contracts brings its total year-to-date vessel sales orders to around RM430m. Including the new contracts and after adjusting for revenue recognition from vessels delivered to buyer in the second quarter, the group has about RM500m worth of vessel sales orders awaiting delivery to customers up to 2012. (Bernama)
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