Friday, December 10, 2010

20101210 0947 Malaysia Corporate News.

TNB wants Government to review gas tariff
TNB will ask the Government to review the tariff for natural gas if the coal prices were to rise significantly and become a financial burden. Its CEO Datuk Seri Che Khalib Mohamad Noh said the company would ask for the review because there was no way it could absorb the coal price increase. "The average coal price has increased to over USD110 a tonne and this will definitely affect our bottom line," he added. (Bernama)

Qatar MRT project on Gamuda's radar
Gamuda said it is eyeing opportunities in the massive USD45bn MRT project Qatar is planning to build next year. Qatar is building the new infrastructure as it prepares to host the 2022 FIFA World Cup finals. The MRT system will be part capital city Doha's key transport infrastructure. (BT)

 Maybank must sell down 20% stake in subsidiary
Maybank’s Indonesian subsidiary PT BII surged to a 10-year high on the republic’s stock exchange as the Malaysian parent was told to sell down a 20% stake in the bank by 1 June, 2011, by Indonesian regulators. This may put an end to any plans Maybank may have to request for a time extension from the regulators to mitigate losses, should there be any, from the paring down of its stake in that period. (Malaysian Reserve)

Kamaruzzaman is new JCorp CEO
Kamaruzzaman Abu Kassim was appointed CEO of JCorp at a board meeting chaired by Mentri Besar Datuk Abdul Ghani Othman yesterday. Ghani, who is also JCorp chairman, said the appointment of Kamaruzzaman as CEO took effect from 1 Dec. Kamaruzzaman, who was previously the senior vice-president of finance and corporate services of JCorp, was appointed the diversified conglomerate's acting president and chief executive on 29 July following the sudden resignation of Tan Sri Muhammad Ali Hashim. (BT)

DRB-HICOM not aware of talks on proposed privatisation
DRB-HICOM is not aware of talks on a proposed privatization. The company said it was not aware of such a proposal or has received any notice from its holding company, Etika Strategi SB. (Malaysian Reserve)

Peter Chin: No water bailouts
No bailouts, but the Federal Government will help to ensure the people of Selangor, Kuala Lumpur and Putrajaya have a continuous supply of water. That was Energy, Green Technology and Water Minister Datuk Seri Peter Chin’s message in response to the ongoing water dispute between the Selangor and federal governments. Asked if there is a deadline, Chin said “as long as we cannot resolve the issue on a willing buyer, willing seller basis, how can we set a deadline?”. (Financial Daily) 

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