Friday, June 4, 2010

20100604 1411 Malaysia News and Updates.

MRCB: Upbeat on winning contracts worth RM250m. Malaysian Resources Corp Bhd (MRCB) hopes to win some RM250m worth of contracts this year from RM600m worth of projects it tendered for in Malaysia. According to CEO Mohamed Razeek Hussain, the bids are for construction jobs in the Iskandar region in Johor, Sabah, Kuantan and in Gombak, Kuala Lumpur. (Source: Business Times)


Celcom: Plans yearly capex of RM1b. Celcom Axiata Bhd, the country's second largest mobile operator, plans to spend some RM6b in capex from this year to 2015 to strengthen its market position and improve infrastructure. According to CFO Chari TVT, an additional 1000 3G sites will be installed this year to ensure better service availability. (Source: Business Times)

Paramount: To expand landbank. Paramount Corp Bhd announced part of the proceeds from its 20% sale in Jerneh Insurance Bhd will be used to buy land in the Klang Valley. According to CEO Ong Keng Siew, selling its stake in Jerneh allowed the company to focus on property development and education. (Source: Business Times)

Kenmark: Ishak now a major investor. Datuk Ishak Ismail is now a major shareholder of financially-troubled Kenmark Industrial Co (M) Bhd. He bought a 32.4% per cent of Kenmark on June 1 and 2. (Source: Business Times)

Senai-Desaru Expressway: RAM revises Islamic debt ratings. RAM Ratings has revised Senai-Desaru Expressway Bhd’s RM1.5b Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) to a negative rating watch, BBB3. (Source: The Star)

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