Malakoff Corp is looking to energy hungry Pakistan to find new investment opportunities and has proposed to its government the setting up two power plants including a 1,200MW imported coal-fired project and a 250MW wind power project. Pakistan is currently processing wind power projects on a fast-track basis to stem an energy crisis from occurring in the country. (Malaysian Reserve)
MRCB invests RM40m to build linking bridges at KL Sentral
Malaysian Resources Corp (MRCB) has invested about RM40m to build several linking bridges to facilitate smooth movement between buildings at KL Sentral. CEO Datuk Mohamed Razeek Hussain said the connection to Lot E, a green platinum building, has been completed, with escalators and elevators for the handicapped. He said the linking bridges would be completed by end-July or in August. (Malaysian Reserve)
No intention to review lending guidelines, says Zeti
Bank Negara Malaysia (BNM) has no intention to review its new guidelines on responsible lending for the time being, said governor Tan Sri Dr Zeti Akhtar Aziz. “Whatever needs to be resolved will be through bilateral discussion. Right now we have no intention,” she said yesterday when commenting on reports that the guidelines would be reviewed. (Financial Daily)
DRB-Hicom assures it will not cut Proton vendors
Conglomerate DRB-Hicom, which has extensive interests in auto component manufacturing, will not overhaul the auto parts supply network that supports Proton Holdings following its takeover of the national carmaker. Proton‟s parts suppliers said they received assurances that no group will be “cut out” from the vendor programme during a meeting with top level DRB-Hicom representative earlier this month. (Financial Daily)
Pestech to raise RM13m via IPO
Pestech International, an integrated electric power technology company aims to raise RM12.88m via an IPO of 12.88m new ordinary shares of RM0.50 each at an issue price of RM1 apiece. Pestech said the IPO would also involve an offer for sale of 8.58m existing shares. It said a portion of the proceeds from the IPO would be used for product development and business expansion in existing and developing markets. (Financial Daily)
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