MRCB-Ekovest: Bags KL river project. Malaysian Resources Corp Bhd (MRCB) and its joint-venture (JV) partner Ekovest Bhd have been appointed as the project delivery partner for the River of Life project. Ekovest Bhd-MRCB JV has received a letter of intent from the government via the KL mayor. (Source: The Star)
Sime Darby: On lookout for land. Sime Darby the world's biggest listed palm oil firm, is on the lookout for more land, in a move sure to fuel the global grab for arable land as food prices remain high. (Source: Business Times)
Auto: Total vehicle sales up 8% in January. Total vehicle sales in January increased 8% to 54,696 units from 50,622 units recorded a year ago, as car makers ramped up production by about 20% to meet the Chinese New Year deleveries. Malaysian Automotive Association (MAA) said sales volume for February is expected to be lower than that of January 2011. (Source: The Edge Daily)
Petra Perdana: Banks on deep-water finds. Petra Perdana Bhd could be a major beneficiary of jobs stemming from Petronas recent deep-water finds at Sarawak's NC3 and Spaoh-1 deep-water wells. Petra Perdana has a mixed fleet of 25 vessels, of which 14 are larger vessels above 9,000bhp which are ideal for deep-water. (Source: The Edge Daily)
PLUS accepts UEM-EPF offer
PLUS has accepted the UEM-EPF takeover offer after an EGM yesterday that was marred by a walkout of minority shareholders. Resolutions for both the RM23bn offer and capital repayment plan were adopted at the conclusion of the meeting. The resolutions were overwhelmingly approved with 99% of the 1.1bn votes present opting for the deal, which will see shareholders paid RM4.60 per share. Only 69% of the 1.6bn total eligible votes were cast with the remainder being absent from proceedings. (The Malaysian Insider)
Tradewinds plans new set of 'jewels'
Tradewinds plans to demolish two of its prized assets in Kuala Lumpur to make way for a "multi-billion-ringgit" mixed commercial development. This means that the Crowne Plaza Mutiara Hotel and Kompleks Antarabangsa, both located on Jalan Sultan Ismail, will make way for a new property project. Chairman Tan Sri Megat Najmuddin Megat Khas said the plan is in the advanced concept stage and could take more than a year to start. (BT)
SP Setia shareholders approve share placement proposal
SP Setia shareholders approved a proposal for the placement of up to 15% of its issued and paid-up share capital. The placement would involve the issuance of up to 152.5m new shares with part of the proceeds to be used for the group's existing development projects like the KL Eco City in Kuala Lumpur, Setia City in Setia Alam, Selangor and the Fulton Lane project in Melbourne, Australia. (Bernama)
Selangor government appoints new KPS CEO
The Selangor state government has named Melewar Industrial Group MD and CEO Suhaimi Kamaralzaman as the new CEO of the state-owned Kumpulan Perangsang Selangor (KPS). It is understood that Suhaimi has officially accepted the offer and he is scheduled to assume duties at KPS in June. (The Malaysian Reserve)
Transmile faces suspension and delisting
Transmile faces suspension and delisting from 3 March and 7 March respectively for failing to submit a regularization plan to the Securities Commission or Bursa Malaysia for approval by 22 Feb. It had until 2 March to submit an appeal to Bursa. (StarBiz)
Legoland Malaysia to open by end-2012
Asia’s first Legoland theme park is on track to open its doors to its first visitors by the fourth quarter of 2012. Construction for the RM720m Legoland Malaysia on 76 acres of land will begin next month while contracts for construction will be awarded by end of this month. About RM200m worth of contracts have already been awarded for earthworks, primary infrastructure, service and administrative buildings, purchase of rights of the theme park and Lego models and consultancy costs. (Financial Daily)
MRCB, Ekovest clinch River of Life project
MRCB together with its joint venture partner Ekovest has clinched the River of Life from project from the government via the Mayor of Kuala Lumpur. MRCB said both firms have received a letter of intent from the government on Tuesday indicating the intention of the government to obtain their services as the project delivery partner. (BT)
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