MAS orders Airbus freighters
Malaysia Airlines has placed a firm order with Airbus for two more A330-200F freighters, following the conversion of two existing options. The latest contract increases the airline's firm orders for freighter aircraft to four. The aircraft will be operated by its air freight arm, Malaysia Airlines Cargo SB (MASkargo) and will be powered by PW4000 engines from Pratt & Whitney. (BT)
PLUS and IDFC Projects win tender to build 127.6-km road In India
A consortium comprising PLUS Expressways and India's IDFC Projects Ltd has secured a tender to build a fourlane 127.6-km road which is the Jetpur-Somnath section of the National Highway-8D in Gujarat. The highway connects New Delhi with Mumbai, passing through state capitals and suburbs, which is popularly known as the Western Express Highway. The project to be executed on design, built, finance, operate and transfer basis is for a 30-year period from the date of the proposed execution of the relevant concession agreement, (Bernama)
KL, Singapore conclude KTM deal
Malaysia and Singapore have agreed to bring the outstanding issue on the development charges payable on Keretapi Tanah Melayu (KTM) land in the city state that will be jointly developed by both countries, to the international court for arbitration. Both countries also agreed to accept the arbitration award as final and binding. (Financial Daily)
End to Affin-BSN merger dispute
An out-of-court settlement is on the cards in the legal dispute arising out of the 2001 merger between BSN Commercial (M) and the former Perwira Affin Bank, which resulted in the creation of Affin Bank. This is the latest development in a lawsuit filed in 2007 by BSNC Corporation against Affin Bank and its owner Affin Holdings. Lawyers quoted in the court notes were saying that the BSNC had received a ’serious’ letter of offer from Affin to settle dispute (Financial Daily)
Sime Darby’s forensic group finds breaches in 4 projects
The forensic and legal consultants tasked to look into certain projects under Sime Darby's energy and utilities division have found evidence of breaches in four key projects. Projects involved are namely the Bulhanine and Maydan Mahzam project with Qatar Petroleum (QP project), the Maersk Oil Qatar project (MOQ project), the Bakun hydroelectric dam and a project known as the "Marine Project". It was reported previously that Sime Darby booked a loss of RM200m for the QP project, RM159m for the MOQ project and RM155m for building vessels for the project, and RM450m for the Bakun hydroelectric dam project. Sime Darby, in a statement to Bursa Malaysia yesterday, said based on the findings of the work group, it has resolved to initiate legal proceedings and, where appropriate, to lodge reports with relevant authorities. (BT)
Players allocated 2.6GHz spectrum
The majority of the nine cellular/wireless companies are believed to have been informed by the industry regulator that they have been allocated the 2.6GHz spectrum that is meant for 4G, which can be used after 1 Jan, 2013. The StarBiz report named four cellular firms – Celcom Axiata, DiGi.Com, Maxis Communications and U Mobile Sdn; four WiMAX players – Asiaspace Sdn, Packet One Network (M) Sdn, REDtone International and YTL Communications Sdn Bhd; and a new entrant, a company said to be linked to Tan Sri Syed Mohkhar Al-Bukhary. A source said it was a matter of time before the remaining one or two players get their letters. This time around the Government wants to award the spectrum to all the wireless/cellular players so that they can have the additional spectrum that gives them more speed and capacity. (StarBiz)
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