Scomi Marine sells marine logistics firms for RM550m
Scomi Marine Bhd (SMB) yesterday said it is selling its marine logistics companies to PT Rig Tenders Indonesia TBK (PTRT) and a privately managed Indonesian fund for USD171.8m (RM549.33m). Once completed. The exercise will dilute SMB’s interest in its unit, PTRT, to an associate and will see the emergence of Portside Offshore Inc, as a strategic investor that it said will play an integral part in growing the group’s businesses in merging markets, particularly in Indonesia and India. (Malaysian Reserve)
TNB to replace 1,720 ageing vehicles
Tenaga Nasional Bhd (TNB) is investing more than RM120m to replace its fleet of 1,720 ageing vehicles over three years. President and chief executive officer Datuk Seri Che Khalib Mohamad Noh said all problem trucks would be sold. The replacement exercise, he added, would be undertaken in three phases. TNB has, as of now, replaced 521 vehicles at an investment of about RM50m. Che Khalib said the reliability and efficiency of the fleet was crucial because any delay in operations due to a breakdown or lack of performance could affect the service provided to customers. The vehicles will be supplied by DRB-HICOM Bhd’s subsidiaries, Automotive Corp (M) Sdn Bhd and EON Auto Mart Sdn Bhd. (StarBiz)
Melati Ehsan plans RM270m housing project
Melati Ehsan Holdings Bhs, an engineering and construction firm, is planning a RM270m residential development in Shah Alam, Selangor. The proposed development, known as Bukit Tengku Shah Alam, is expected to commence in the last quarter of 2010 and be completed by the first quarter of 2013. The project is being undertaken on a 14ha plot of land owned by Tengku Shahrudin SB, a privately owned property and development and investment company. (Malaysian Reserve)
MAS to spend RM320m on ERP solution
National carrier Malaysia Airlines (MAS) plans to invest RM320m over three years in a computer-based solution to streamline operations and maximise business efficiency. The enterprise resource planning (ERP) solution will replace existing systems and integrate MAS' finance, human resource, and engineering and maintenance operations in two phases from this year to 2012. "The total benefit expected from the project is estimated at over RM120m per year, once fully implemented in 2012," MAS managing director and chief executive officer Tengku Datuk Azmil Zahruddin told reporters at a briefing in Subang Jaya, Selangor, yesterday. MAS picked HCL Axon and SAP as its partners for the project. The system will centralise all the airline's data and allow it to obtain realtime information. (BT)
Banking: BNM approves CIMB's acquisition of a stake in CIMB Niaga. CIMB Group Holdings Bhd announced that Bank Negara Malaysia (BNM) has approved the group's proposal to acquire up to 19.7% equity interest in PT Bank CIMB Niaga TBK. (Source: The Edge Financial Daily)
JCorp: Scoffs at bankruptcy claims. Johor Corp (JCorp) has rubbished claims by opposition parties that it will go bankrupt in 2 years, saying it can afford to offset its liabilities with assets if required. JCorp, which has 280 member companies with 65,000 employees, has an outstanding loan of RM3.8b due in 2012. The market capitalization of 8 companies within JCorp was RM10.4b at 31 December 2009. (Source: Business Times)
Property: Ivory Properties aims to raise RM45m from IPO. Penang-based Ivory Properties Group Bhd, enroute for listing on the main board of Bursa Malaysia by 28 July 2010, expects to raise RM44.9m from its initial public offering (IPO). (Source: Malaysian Reserve, Business Times)
No comments:
Post a Comment