MISC: Selling older liner vessels. National carrier MISC Bhd could sell three of its smaller container vessels consisting of Bunga Bidara, Bunga Delima and Bunga Kenari. The three vessels are surplus to its requirements and a sale can be concluded without hassle. (Source: The Edge Financial Daily)
Funds: RM1b real estate fund for bumiputras launched. Pelaburan Hartanah Bhd (PHB) launched its RM1b Amanah Hartanah Bumiputera (AHB) investment fund. The fund would enable bumiputra investors to own real estate assets with a minimum investment of RM500. The fund's underlying assets are CP Tower in Petaling Jaya, 26 Boulevard in Putrajaya, Wisma Consplant in Subang Jaya, Tesco Setia Alam and Industrial Complex in Shah Alam. (Source: The Star)
Mining: Vale to invest RM500m in Perak. Brazil's Vale SA has approved plans to invest as much as RM500m in Perak next year to help build a maritime terminal and a stockyard in Teluk Rubiah, near the Straits of Malacca. The distribution centre is for a pelletising plant, which converts raw iron ore into pellets that are used in steel production. Vale intends to use Teluk Rubiah as its main base to export the materials to the Far East, especially China. (Source: Business Times)
E&E: Investments to exceed RM5b this year. Malaysian Investment Development Authority (Mida) expects total investments in the electronics and electrical (E&E) sector this year to exceed RM5b from about RM4.7b in 2009. The top investors were from the United States, Germany, Japan, and Taiwan. Mida is negotiating to bring in fresh investments for solar power, wireless communication, cloud computing and light-emitting diodes industries next year. (Source: The Star)
Plantation: Sarawak to double oil palm plantation area. Sarawak, which recorded its fastest pace in opening up land for oil palm cultivation in the past one year, targets to double its plantation area to two million hectares. State Land Development Minister Datuk Dr James Masing was optimistic that the new target could be reached by 2020, making Sarawak the biggest crude palm oil producing state in Malaysia. (Source: The Star)
Petra Energy front runner for Petronas job
Three companies - Petra Energy, Carimin SB and Shapadu Corp SB - are understood to have emerged as the front runners to bag retro-fitting, hook-up and commissioning jobs for oilfields located in Peninsular and East Malaysia from Petroliam Nasional (PETRONAS), industry sources said. According to sources, the contracts are valued at RM1.2bn in total and could be evenly broken down to three parcels of RM400m between Sabah, Sarawak and Peninsular Malaysia. Petra Energy is understood to have almost secured the Sarawak portion, while Carimin is close to bagging the Sabah job. Shapadu, meanwhile, is said to be the front runner to get the retrofitting, hook-up and commissioning jobs for Peninsular Malaysia. (Financial Daily)
Integrax sees LMT tagged at no less than RM250m
Port operator Integrax may consider selling its stake in Lumut Maritime Terminal SB (LMT) for a price tag of no less than RM125m. “I think the value of LMT would be in excess of a quarter billion (RM250m),” Harun Halim Rasip, joint chief executive of Integrax said. Currently, Integrax has a 50% minus one share in LMT while Perak Corp, via its unit Taipan Merit SB has a 50% plus one share in LMT.(Financial Daily)
Pos Malaysia ventures into e-commerce
Pos Malaysia is hoping to tap into the vast e-commerce business to broaden its revenue base by launching its new online shopping portal, Post-Me.com.my. Pos Malaysia’s Group Managing Director and CEO Datuk Syed Faisal Albar added that Pos Malaysia would invest about RM3m-RM5m on the online portal and the venture would derive 5% to 10% profit for every product sold. (FinancialDaily)
Study on proposed Proton-Perodua merger completed
A study on a possible merger between the country's top two national car companies has been completed, International Trade and Industry Minister (Miti) Datuk Seri Mustapa Mohamed said. Miti is setting a date by the year-end to discuss a third-party's research findings on the possible merger between Proton Holdings and Perusahaan Otomobil Kedua SB. The study was carried out by Frost & Sullivan. (Btimes)
MCMC: No 700MHz allocation to YTL so far
MCMC has come to clarify that no spectrum assignment on the 700MHz frequency band has been issued to YTL so far. This follows reports by media that YTL Communications as been granted an extra spectrum licence compared with other incumbents. The operating issued to YTL is to offer pay TV broadcasting using 700 MHz band. MCMC added that it is currently studying YTL’s detailed business plan to roll out its digital pay TV slated to be launched next year with US-based Sezmi Corp. (FinancialDaily)
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