Friday, December 24, 2010

20101224 1120 Malaysia Corporate Related News.

Sime Darby files civil suit
Sime Darby has filed a civil suit against its former president and group chief executive Datuk Seri Ahmad Zubir Murshid and four senior executives claiming RM337.63m in damages for alleged breach of duties in three projects under the troubled energy and utilities division.(Financial Daily)

PLUS directors extend deadline for new bids
The independent directors of PLUS extended the period for new offers to buy the group's business to 10 Jan, 2011 from the earlier announced deadline of 5pm yesterday. (StarBiz)

US firm looking at Adventa acquisition
Rubber glove manufacturer Adventa hit limit up yesterday on speculation that it could be a potential acquisition target by a US healthcare firm for the upstream integration of its healthcare business. It was also rumored earlier that the US firm had previously been in preliminary talks with Top Glove but had decided Top Glove was too big a manufacturer, which would be too expensive. (Financial Daily)

Proton planning two-seater sports car that would look like Lotus
 Proton Holdings plans to produce a two-seater sports car in two years. Proton corporate planning general manager Badrulhisham Mohd Ghazali said the vehicle would not be a hatch-back type like Satria Neo but would look like the legendary Lotus. (StarBiz) Internal BToto discussions consider strategic investor Berjaya Sports Toto (BToto) has had preliminary discussions internally on a possible corporate exercise which may result in the entry of a strategic investor, it told Bursa Malaysia yesterday. It said that while there had been initial contact with several potential strategic investors, no negotiation had been conducted with any strategic investor at this juncture, as internal discussions and planning were still ongoing. (StarBiz)

Nusajaya to develop RM670m project
Nusajaya Consolidated SB, a 50:50 joint venture between UEM Land and United Malayan Land (UMLand), will develop 6.7 acres in Nusajaya, Johor, into a mixed development project with a gross development value of RM670m. UMLand said in a statement to Bursa Malaysia that NCSB yesterday signed an agreement with Bandar Nusajaya Development SB to acquire the freehold land in Nusajaya for RM49.6m in cash. The proposed development, to comprise commercial, residential and retail components, will be developed over four years and is expected to yield a gross profit of RM160m. It is located in Puteri Harbour, an integrated waterfront and marina development spanning 278.42ha within Nusajaya and Iskandar Malaysia. (StarBiz)

Pintaras unit wins RM26m job
Pintaras Jaya’s wholly owned subsidiary, Pintaras Geothecnics SB, had been awarded a contract worth RM26.1m by Exceljade SB. The contract will see Pintaras Undertake earthwork, piling including pilecap and stumps for development of service apartments at Jalan Tun Razak. Jalan Raja Muda Abdul Aziz in the city. The project will start contributing positively to errnings. (Bernama)

Government funded MRT
The Government will set up a special vehicle company (SPV) to channel total funding for the proposed greater KL mass rapid transit (MRT) project. Land Public Transport Commission (SPAD) chief executive officer Mohd Nur Ismal Kamal said the multi-billion ringgit project will not be undertaken on a turnkey basis and contractors need not seek financing. All MRT job packages will be tendered out to both local and international contractors. (Bernama) 

No comments: