Sime Darby: Mulls plantation in Cameroon, Emery in JV. Sime Darby Bhd is mulling a 300,000ha oil palm plantation in Cameroon in view of rising demand and high crude palm oil (CPO) prices. The RM7.5b project will expand its 640,000ha land bank. Separately, Emery OIeochemicals Group, a JV between Sime Darby Plantation Sdn Bhd and Thailand's PTT Chemical International Pte Ltd, has inked a new JV for a synergistic collaboration with Europe-based ERCA Group, to increase the presence of both companies in the global home and personal wellness markets across Europe, Latin America and Asia. (Source: The Edge Financial Daily)
Tenaga: In RM120m green energy tie up with Felda. Tenaga Nasional Bhd and the Felda Global group will invest RM120m in a green energy in Jengka, Pahang that will generate electricity using oil palm empty fruit bunches (EFB). The construction is expected to be completed by Dec 2012 with a generation capacity of 12.5MW. (Source: The Edge Financial Daily)
AirAsia: AirAsia X on RM1.5b expansion route, Rafidah to airlines chairman. AirAsia X (AAX) has signed a contract to buy three new A330-200 aircraft for RM1.5b as part of its expansion strategy and it hoped to earn RM2b in revenue this year. This latest aircraft order that comes with an option to add two more aircraft will be deployed for long haul destinations into Europe and possibly Africa from next year onwards. Separately, Tan Sri Rafidah Aziz has accepted AAX's offer to be the new non-executive, independent chairman. (Source: The Star)
KNM: Expects stronger earnings this year. KNM Group Bhd, which has seen its earnings on a decline, expects better earnings this year underpinned by its all-time high order book of RM4.5b. Its debt level has also dropped significantly to about RM1b currently from the RM1.7b to RM1.8b level following the acquisition of Borsig in mid-2008. (Source: The Edge Financial Daily)
Aviation: APFT to raise RM11m from IPO. APFT Bhd, a flight education and training service provider, aims to raise RM11m from its IPO offering which is scheduled for March 18. The company is bound for the Main Market of Bursa Malaysia. (Source: The Sun)
KNM wants to buy foreign firms, expand product line
KNM aims to buy foreign firms and expand its product line in a bid to diversify and improve earnings, its MD Lee Swee Eng said. The group, which has RM300m cash, is eyeing companies with investments in green technology, total solution and process, nuclear and environment, among others. Lee expects KNM to do better this year and growth to accelerate from 2012, driven by its order backlog of RM4.5bn and business expansion. (BT)
Kencana Petroleum secures RM115m contract from Petrofac
Kencana Petroleum has secured a contract from Petrofac E&C for the engineering, procurement, construction and commissioning of Mobile Offshore Production Unit and Wellhead Support Structure, worth RM115m. The contract was for the Sepat Early Production System off the coast of Terengganu. (Bernama)
ManagePay goes public in bid to expand nationwide
ManagePay Systems hopes to expand nationwide with the RM7.3m it expects to raise from its IPO slated for 15 March. Applications for the issue shares will be closed at 5pm, 2 March. The IPO for the listing will see the company’s market capitalisation of RM29.3m at its IPO price. (The Malaysian Insider)
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