Friday, October 21, 2011

20111021 0948 Malaysia Corporate Related News.

Five prequalify for MRT tunnelling
Five companies have prequalified to bid for the mass rapid transit (MRT) tunnelling project, with tender documents slated to be given to the companies today, sources say. The Edge Financial Daily understands that the Gamuda and MMC Corp joint venture (JV), China’s Sinohydro Group and South Korea’s SK Holdings have been prequalified. The other two parties which have been shortlisted are from Japan and China. (Financial Daily)

United Plantations plans more biogas plants
United Plantations Bhd (UP) plans to add more biogas plants in one or two years at its palm oil mills in Malaysia and Indonesia to save energy cost. Vice-chairman/executive director (corporate affairs) Datuk Carl Bek-Nielsen said the company reduced 25% of fossil fuel usage yearly at its Perak plantation by relying on electricity generated from its biogas plant in Teluk Intan. He said the cost of building a biogas plant was about RM7m and the group had invested RM20m for its existing three plants. (StarBiz)

Cahya Mata, OM seal USD500m smelter deal
Cahya Mata Sarawak Bhd has signed a shareholders agreement with Singapore’s OM Holdings Ltd to build a USD500m (RM1.57bn) manganese and ferro silicon smelting plant, with an annual capacity of 600,000 tonnes a year in Samalaju, Sarawak. Completion is targeted for 2015. (BT)

Kumpulan H&L High-Tech halts Thailand ops
Kumpulan H&L High-Tech Bhd’s (HIghTec) 70%-owned subsidiary in Thailand has temporarily ceased its operations there due to the severe flood conditions. It said yesterday that H&L High-Tech Mould (Thailand) Co. Ltd. (H&LM) located at Bangpa-In Industrial Estate, Ayutthaya had halted operations. H&LM is principally engaged in the manufacturing of metal pants for electronic and metal surface treatment. HighTec said H&LM and its local team were in the process of monitoring the events leading to the above and is working on the recovery plan. (Financial Daily)

TDM: Sells poultry business for RM4m. TDM Bhd has sold its poultry business under TD Poultry Sdn Bhd to Vision Poultry Sdn Bhd for RM4m cash. The rationale for the disposal is to streamline and rationalise the core business of TDM Group. (Source: Bursa Malaysia)

Property: RM8b-RM10b Cyberjaya project on drawing board. Cyberview Sdn Bhd, the landowner of Cyberjaya, is coming up with a new commercial project worth about RM8-10b to drive new investments at the cybercity. Known as Cyberjaya City Centre, the 57ha project will take about 15 years to develop. It is understood that more than 20 developers are keen in the project, including Mah Sing Group, UEM Land Holdings and Naza Group. (Source: Business Times)

Media: All terrestrial TV stations to go digital by 2015. Come 2015, all terrestrial television stations will have to go digital once the analog system becomes obsolete. With this in mind, the government plans to award contracts to the private sector to undertake the job because of the high cost involved, which is more than RM2b. Privately-held Puncak Semangat Sdn Bhd owned by Tan Sri Syed Mokhtar Al-Bukhary made a bid. The company has been working on the proposal for three years with the Information, Communication and Culture Ministry and is waiting for a good response. (Source: Business Times)

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