Sime names Bakke CEO
Datuk Mohd Bakke Salleh has been named the new chief of Sime Darby and analysts think he could be the man to fix the conglomerate based on his track record. Bakke earned his spurs after he helped to restructure Lembaga Tabung Haji in 2001-2002 following fraudulent withdrawals and poor investment decisions. The 56- year-old Bakke is currently group president and chief executive of Felda Global Ventures Holdings SB, the overseas investment arm of Felda Group. (BT)
BHIC wins RM130m Govt maritime contract
Boustead Heavy Industries Corp’s (BHIC) indirect unit BYO Marine SB has received a letter of award dated 7 June from the government for the contract to design, construct and commission 10 units of Fast Interceptor Craft vessels for the Malaysian Maritime Enforcement Unit worth RM130.7m. In a Bursa Malaysia filing on Monday, 14 June, the group said the contract period was for a 20-month period from the effective date of the letter of acceptance of BYO. (FinancialDaily)
Ishak no longer substantial shareholder of Kenmark
Datuk Ishak Ismail has netted an estimated RM5m from selling shares in Kenmark Industrial, a company that he had started buying into slightly over a week ago. However, in a filing with Bursa Malaysia yesterday, Kenmark said Ishak had ceased to be substantial shareholder of the company as of 9 June. The shares were disposed of in the open market on 9 June and 11 June. (StarBiz)
It’s official — small pack ban effective 2 June
The Health Ministry issued an official directive to tobacco companies on Monday, 14 June, confirming the ban of cigarette packs containing fewer than 20 sticks with effect from 2 June It said this was in line with the cabinet's decision on 2 June that revoked the ministry's earlier deferment of the ban until 31 Dec, 2010. "The ban of cigarettes in packets of less than 20 sticks is in accordance with the Tobacco Control Act 2004 which had been gazetted on 23 Sept, 2004," the health ministry said in a statement on Monday. (FinancialDaily)
KUB clinches RM29m digital TV job
KUB Malaysia through its subsidiary, KUB Telekomunikasi SB, has been awarded a RM29.5m TV Al Hijrah Digital Broadcasting Centre contract from Al Hijrah Media Corporation. KUB said TV Al Hijrah was a new concept TV station operated by Al Hijrah Media Corporation, scheduled for transmission by year end and would be free to air. KUB will provide TV Al Hijrah with equipment and engineering services for its High Definition Digital Broadcast Centre. (FinancialDaily)
Perodua retains pole position in May
Perodua maintained its market leadership in May with sales of 15,000 cars and an estimated market share of 29.6% on the back of continued strong demand for vehicles. "The 15,000 units sold were 13.6% higher than the 13,200 units achieved in May 2009," its managing director Aminar Rashid Salleh said in a statement yesterday. Year-to-date, Perodua sold 78,700 cars, which was 5.64% higher than the 74,500 units forecast for the five months this year. This was also a 23.16% jump over the 63,900 units sold during January-May last year. (BT)
Amir Hamzah to helm Petronas Dagangan
Amir Hamzah Azizan, the former president and CEO of national carrier MISC will commence duties as managing director and CEO of Petronas Dagangan today. Other than Petronas Dagangan, Amir is also on the board of MISC, Bintulu Port Holdings and NCB. At the same time yesterday, Petrtonas Dagangan also announced the resignation of Mohammad Sabarudin Mohamad Amin as director/CEO with effect from today. (FinancialDaily)
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