Gaming: NFOs to lobby for lower prize payouts.
While 4D lottery prize payouts remain unchanged for now, number forecast operators (NFOs) are said to be lobbying for it to be reduced. Industry sources said three NFO operators are in the midst of lobbying the Finance Ministry to reduce the 4D first prize payouts by RM200. This would bring the current payout ratio for every RM1 bet to RM2,300 for the first prize of "4D Big" and RM3,300 for "4D Small". NFOs presently pay out RM2,500 and RM3,500 for those bets, respectively. (Source: The Star)
Gamuda, MMC: 12 weeks to conduct RM36b MRT feasibility study.
The feasibility study on the proposed RM36b mass rapid transit (MRT) system by Gamuda Bhd and MMC Corp Bhd is expected to be presented to the Government in about 3 months time, said a source familiar with the matter. It was earlier reported that the Government had appointed 2 independent consultants - Minconsult Sdn Bhd and Andercon Technologies Ltd - to carry out the study. (Source: The Star)
Port: Potential RM1.5b investment from Mideast.
Middle Eastern investors may invest some RM1.5b in a petroleum tank farm and halal industrial park in Penang Port. Penang Port Sdn Bhd (PPSB) chairman Datuk Seri Dr Hilmi Yahaya yesterday said potential investors have approached PPSB to set up shop in the port area to tap the export potential of the Indonesia-Malaysia-Thailand Growth Triangle. (Source: Business Times)
Tanjong: Bidding for new power projects.
Tanjong plc is hoping that some of its bids for new power projects will come to fruition over the next few quarters. In the meantime, earnings from its existing power assets are expected to remain relatively resilient although overseas earnings, denominated mostly in US dollars, are hurt by the stronger ringgit. (Source: The Edge Financial Daily)
Khazanah extends deadline for Parkway shareholders
Khazanah Nasional has extended the closing date of its partial offer for Singapore’s Parkway Holdings Ltd after rival Fortis Healthcare Ltd made a better bid a week ago on 1 July. In a press statement yesterday, the financial advisers of the state-controlled investment arm, CIMB Bank and Deutsche Bank, said the partial offer would now close at 5.30pm on 26 July. The original deadline was yesterday. It is believe Khazanah is mulling its options to come up with a better offer, and the extension of its partial offer will buy time it to do this. (Financial Daily)
BRDB takes over RM2.3bn Iskandar project from Dubai World
Bandar Raya Development (BDRB) is taking over from Dubai World, a joint venture agreement with UEM Land to undertake the RM2.3bn Residential North high-end mixed development in Puteri Harbour in the Iskandar Development Region (IDR), Johor. In a statement to Bursa Malaysia yesterday, BDRB said its wholly owned subsidiary, Ardent Heights SB, had on Wednesday entered into a conditional sale of shares agreement with Limitless Holdings Ltd to acquire the latter entire stake in Haute Property SB, which has been granted by UEM Land to undertake the development on an 111-acre parcel of land in Puteri Harbour. (Financial Daily)
KNM secures RM288.8m orders
KNM Group companies have secured new orders totaling about RM288.8m. In a filing with Bursa Malaysia yesterday, KNM said its wholly owned subsidiaries, KNM Process Systems SB (KNMPS), FBM Hudson Italiana SpA (FBM) and Borsig Process Heat Exchanger, have collectively secured substantial new orders from international clients for overseas projects. The new orders from five clients were secured over a period of two weeks from 24 June to yesterday. (Financial Daily)
New motor cover plan closer to being finalized
Bank Negara Malaysia will submit the final proposal for a new basic third party motor cover scheme framework to the Government in December. In a statement released in Kuala Lumpur yesterday, the central bank said it had, together with the Ministry of Finance, completed initial consultation sessions on the proposed framework with key stakeholders in April. A consultation paper explaining the rationale for proposing a basic scheme, guiding principles, objectives and broad features under consideration was posted on Bank Negara's website for members of the public to provide their feedback on the scheme. (BT)
Iris signs 3 pacts with Senegal
Iris Corp has signed three initial pacts to supply electronic cards, build a renewable power plant and develop a housing project in Senegal. It signed a memorandum of understanding (MOU) with the Ministry of Interior to integrate e-passports and identification card systems, and supply driving licence and work permit cards. The second MOU by Iris Eco Power Sdn Bhd is to build a power plant fuelled by solid waste from the city of Dakar and all the major cities of Senegal. Iris Eco has also signed an MOU to partner Caisse des Depots et Consignations to build 1,000 houses in Bambilor, Senegal. Meanwhile, Iris entered into a RM50m deal with Koperasi Atlet Malaysia for the AutoPot System Farming Project in Perak. (BT)
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