SPNB awards RM1.7bn jobs for LRT extension
Syarikat Prasarana Negara Bhd (SPNB) has awarded contracts worth RM1.7bn for the first phase (Package A) of the RM7bn light rail transit (LRT) extension project involving the Kelana Jaya and Ampang lines. In a statement last Friday, SPNB, which was established by the Finance Ministry to facilitate, undertake and expedite infrastructure projects for the Government, said the main contractor facilities job for Package A of the Kelana Jaya line, valued at RM950m, was awarded to Trans Resources Corp Bhd. The work will take 30 months to complete. UEM Builders Bhd and Intria Bina SB were jointly appointed the nominated sub-contractors for the fabrication and delivery of segmental box girder jobs worth RM93.16m, which is expected to take 21 months to complete. Package A of the Kelana Jaya line will be a 9.2km extension from the Kelana Jaya station to Summit (Station 7). Package B will involve a 7.8km extension from Station 7 to the Putra Heights station. (StarBiz)
Ireka unit clinches RM233m contract
Ireka Corp Bhd, via wholly-owned unit Ireka Engineering & Construction SB, has secured a RM232.75m contract for the proposed development of offices and a hotel in Kuala Lumpur. It told Bursa Malaysia last Friday that Ireka Engineering had received a letter of intent from Transmission Technology SB for the project. The development would involve architectural and mechanical and electrical works for two basement levels and the 13-level podium, as well as 27-storey and 37-storey office towers, it added. (StarBiz)
HLB deadline for EON Cap extended
Hong Leong Bank Bhd (HLB) told Bursa Malaysia that it had extended the deadline for EON Capital Bhd (EON Cap) to accept its offer to acquire the entire assets and liabilities to 31 April 2011, from Tuesday tomorrow. This will be the second time the deadline has been extended. The deadline had earlier been extended from 15 Aug. HLB is embroiled in an ongoing court battle prolonging its merger with EON Cap. In April, HLB made an offer of RM7.30 per share to assume all the assets and liabilities of EON Cap. Primus (M) SB a unit of Hong Kongbased investment company Primus Pacific Partners and the single largest shareholder with a 20.2% stake in EON Cap was against the idea, claiming HLB's offer was too low. Primus had paid RM9.55 per EON Cap share when it bought into the bank in 2007. (StarBiz)
Jimah Energy plans listing
Independent power producer Jimah Energy Ventures SB is planning to go public in what could be one of the bigger initial public offerings (IPO) of 2011. A merchant banker has been hired but there are many details yet to be finalised. "The listing is targeted for mid-2011 but there are details to be sorted out including the name the listed company will carry," its chairman Tunku Naquiyuddin Tuanku Ja'afar said. He expects Jimah to raise "hundreds of million ringgit" from the IPO. "A lot of the funding is by project financing and we just need a capital base," he said, adding that the equity portion could be about 30%. "The reason we are listing is because we have been invited by the Energy Commission to bid for an additional 1,000 megawatts (MW)," Tunku Naquiyuddin told Business Times in an interview. (BT)
Potential beneficiaries of second 1000MW coal plant
A number of construction player stand to benefit from the proposal for a second 1000MW coal-fired power plant as part of the ongoing plan to meet the country’s growing power needs. It was reported last week that the Energy Commission had requested for proposals from two power plant operators for an additional 1000MW coal-fired plant. According to the Energy Commission’s chairman Tan Sri Ahmad Tajuddin Mohd Ali. The requests were made to two independent power producers (IPPs). One was made to Tanjung Bin Power Plant, run by Malakoff Bhd, which is under MMC Corp Bhd while the other to Jimah Power, which is owned by Jimah Energy Ventures SB. (Financial Daily)
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