BRDB: No privatisation proposal. Bandar Raya Development Bhd (BRDB) says it did not receive any proposal to privatise it. (Source: Business Times)
Iron: Vale expected to call for RM3b seaport tender. Brazil's Vale SA, the world's largest iron ore producer, plans to call for an international tender as early as November to help build a seaport in Teluk Rubiah, Perak, near the Straits of Malacca. Business Times understands that the value of the contract is slightly more than RM3b and construction is expected to take about 30 months. (Source: Business Times)
O&G: Petronas to acquire BP's interests in two companies for USD363m. Petronas will acquire BP's entire 15% and 60% interests in Ethylene Malaysia Sdn Bhd (EMSB) and Polyethylene Malaysia Sdn Bhd (PEMSB). In a statement, PETRONAS will pay USD363m in cash to BP, inclusive of a balance sheet adjustment of USD13m and the repayment of a shareholder loan of USD53m, under the terms of the agreement. (Source: The Star)
REIT: PKNS picks RM10b projects for REIT plan. Selangor State Development Corp (PKNS) has identified 16 high-profile projects worth RM10b for future injection into its real estate investment trust (REIT), its chief said. PKNS general manager Othman Omar said six of the projects have been confirmed. They are Datum Jelatek in Kuala Lumpur, PJ Elevated City, PJ Sentral Garden City and Kelana Sports City in Petaling Jaya, Selangor Science Park 2 in Sepang and the proposed Healthcare City. (Source: Business Times)
Sumatec: Bidding for RM500m worth of energy projects. Sumatec Resources Bhd, an engineering, procurement, construction and commissioning (EPCC) company mainly involved in the energy sector, is bidding for RM500m worth of projects locally and overseas. They are looking to diversify their business into green energy projects. (Source: Bernama)
TMC Life: Group MD resigns. TMC Life Sciences Bhd yesterday announced that Datuk Dr Colin Lee Soon Soo had resigned as group MD on August 31. Dr Lee and his brother recently sold all their shares in the fertility treatment specialist to Singaporean billionaire Peter Lim. (Source: Business Times)
Vale expected to call for RM3bn seaport tender
Brazil's Vale SA plans to call for an international tender as early as November to help build a seaport in Teluk Rubiah, Perak, near the Straits of Malacca. The value of the contract is understood to be slightly more than RM3bn and its duration is about 30 months. Construction work is expected to start in the first quarter of next year. (BT)
Naim-Samsung engineering joint venture gets USD766m Sabah job
Naim Holdings announced today that Samsung-Naim, a joint venture between its subsidiary NCSB Engineering and Samsung Engineering, has received a contract worth USD766m from Petronas Carigali to provide services for the Sabah Oil and Gas Terminal project. The scope of work involves the engineering procurement, construction and commissioning of the project. (Bernama)
Petronas to acquire BP's interests in two companies for USD363m
Petronas will pay USD363m to acquire BP’s entire 15% and 60% interests respectively in Ethylene Malaysia SB (EMSB) and Polyethylene Malaysia SB (PEMSB). “Subject to certain conditions, both parties anticipate completing the transaction by the end of 2010,” the company said. (StarBiz)
SapuraCrest units win USD134m worth of contracts
SapuraCrest Petroleum has secured 2 contracts totaling USD134m, having received a letter of award for the deployment and usage of the T-6 drilling rig. The contract requires the deployment of the rig for a period of 28 months commencing from 21 Dec 2010. (StarBiz)
Sunway unit secures RM70m worth of jobs
Sunway Holdings’s wholly-owned unit Sunway Construction has secured 2 contracts worth RM70m from Putrajaya Holdings for works within the Federal Government administrative centre. The first contract was to undertake the roadworks, drainage, utilities and landscaping while the second contract was to build and commission a chilled water storage tank, plant building and other associated works for gas district cooling plant at Putrajaya. (StarBiz)
Aeon to bid for Carrefour ops in South East Asia
Aeon Co Ltd, Japan’s second largest retail group, will bid for the Thai, Malaysian and Singaporean operations of French retailer Carrefour, sources familiar with the matter said. The purchase would almost triple its outlets in the 3 South East Asian nations. Currently, Aeon operates 27 Malaysian stores and 11 outlets in Thailand. (StarBiz)
4 family takaful licences given out
BNM has given out 4 family takaful licences, instead of two as had been announced earlier. The central bank said the decision was driven by the favorable economic conditions since the initial announcement made on 27 April last year and the growth potential of the industry in the country as well as region. The new licences will see several banking groups collaborating with foreign insurance partners. (BT)
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