MAHB to increase terminal size of KLIA 2
Malaysia Airport Holdings has announced a larger terminal footprint for its new airport badged KLIA2, which is set to cost between RM3.6bn-RM3.9bn from an earlier estimated cost of RM2.5bn. Upon completion, KLIA2 will be the world’s largest purpose-built terminal for low-cost carriers (LCCs) with the capacity to serve up to 45m passengers annually. (Malaysian Reserve) Please see accompanying report
PSC could turn Sumatec around
Sumatec Resources has entered into a framework agreement with Markmore Energy (Labuan) Ltd and CaspiOilGas LLP for the award of a production sharing contract (PSC) for the Shelly oil field in Kazakhstan. Sumatec MD James Chan told The Edge Financial Daily: “This is a good contract and should be able to get Sumatec out of PN17 in about a year”. Sumatec has been in the PN17 category since April. (Financial Daily)
Yeoh expects YTL Comms to turn around
YTL Power International expects its subsidiary YTL Communications SB to turn around within two years, MD Tan Sri Francis Yeoh told shareholders at the company’s AGM yesterday. YTL launched its YES 4G wireless network in Nov last year. Yeoh told shareholders that YTL will launch an Android smartphone together with an “easy to understand” price plan in January next year. (Financial Daily)
Hap Seng sells KK Land for RM85m in RPT
Hap Seng Consolidated’s wholly-owned subsidiary, Hap Seng Realty SB, is disposing of 2.16 acres of land with a cinema complex in Kota Kinabalu to Akal Megah SB for RM85m cash or RM90/sq ft. It said that the disposal price was arrived at after taking into consideration the sizeable area and prime location within the central commercial district of Kota Kinabalu City Centre. Hap Seng Realty acquired the land for RM28.5m in March 2010. (Financial Daily)
Eco Palm to invest RM820m on Pahang plant
Eco Palm Paper SB, a recycling-based company, expects to invest RM820m to set up a three-phase corrugated paper plant in Pekan, Pahang. Its MD Larry Yong said the company expects to see annual revenue of RM875m once the plant is fully completed by 2017. Berjaya Corp is the major shareholder of Eco Palm. (Malaysian Reserve)
MAS, Qantas in talks on closer ties
MAS and Qantas Airways are holding talks on a closer partnership in the run-up to the national carrier joining the One World Alliance. The partnership may include a code-sharing alliance that is expected to allow joint marketing, scheduling and pricing. (BT)
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