QSR: Sets up Cambodian unit. QSR Brands Bhd has incorporated a company in Cambodia, Integrated Poultry Industry (Kampuchea) Pte Ltd, for the purpose of operating a broiler and processing production in Phnom Penh. (Source: Bursa Malaysia)
FDI: Invest KL targets 10 MNCs annually. Invest KL, expected to be launched by end-April, is targeting to attract at least 10 multinational companies (MNCs) annually to invest in Kuala Lumpur and the Klang Valley. Invest KL had attracted two MNCs, Schlumberger and Vale, so far. (Source: The Star)
Transportation: Feasibility studies on high-speed KL-Singapore rail. The Government is currently undertaking feasibility studies on a high-speed rail connecting Kuala Lumpur and Singapore. The feasibility studies would take about eight weeks to complete. (Source: The Star)
Telco: P1 part of SK Telecom's larger plans. While investors may have turned sceptical towards loss-making WiMAX player Packet One Networks Sdn Bhd (P1), its new strategic partner SK Telecom (SKT) believes there is much value in P1's wireless business as a launchpad for SKT's aspiration to expand regionally in Southeast Asia. SKT said that either P1 or Green Packet could become part of SKT's expansion plans in Southeast Asia later. (Source: The Edge Financial Daily)
Nestle Malaysia budgets up to RM120m for capex
Nestle Malaysia has budgeted RM100m to RM120m to expand its capacity this year. Managing Director Peter Vogt claimed that majority of the sum is to be invested in increasing the capacity and innovation. He said the increase in capacity at the company’s factory allows the group to expand its export market, namely Indonesia and the Philippines, as well as the domestic market. The budget for capacity expansion is in line with the group’s priority on having organic growth, instead of growing via mergers and acquisitions. (Financial Daily)
Multi Sports to sponsor TDR programme
Multi Sports Holdings (MPHB) is proposing to sponsor a depository receipt programme in Taiwan which entails the issuance of Taiwan depository receipts (TDR) representing up to 67.5m new shares of 5 US cents (15 sen) each in the company. Such a move will pave the way for Multi Sports to have dual listing.(StarBiz)
Allianz eyes 10% growth Allianz General Insurance Co (M) Bhd (AGIC) wants to grow its business by 10% this year, riding on the bullish economy that is expected to spur construction activities and consumer spending power. However, its chief executive officer Zakri Mohd Khir said although the 10% target is achievable, the insurer believes that growth would be between 6% and 8%. (BT)
DRB-HICOM unit wins RM7.5bn defense contract
DRB-HICOM’s wholly-owned subsidiary, DRB-Hicom Defence Technologies SB (Deftech), has received a contract worth RM7.55bn from the Malaysian Government to supply armored-wheeled vehicles (AWV). DRBHICOM told Bursa Malaysia yesterday that Deftech had accepted a letter of award from the Government to design, develop, manufacture, commission, supply and deliver 257 units of 12 variants of the 8x8 AWVs. The contract is for a period of seven years beginning 2011. (StarBiz)
Lion Group blames Vinashin woes for Viet project failure
The Lion Group has blamed problems at Vietnam's scandal-hit shipbuilder Vinashin for the failure of a multibillion- dollar joint venture. The USD9.8bn (RM29.69bn) project by state-owned Vietnam Shipbuilding Industry Group (Vinashin) and Lion would have included a steel mill, power plants and a sea port in the southern Vietnamese province of Ninh Thuan. Vietnamese officials said last month that the project's investment licence had been revoked because investors did not fulfil their commitments. "The Lion Group wishes to clarify that the lack of progress is due to the financial and management issues affecting Vinashin which has not been able to respond on the continuity of the project," the firm said in a statement. (BT)
Sime Darby eyes French region for plant
Sime Darby Plantation, the world's largest listed plantation company, has identified the Languedoc-Roussillon region in France as a potential location to set up its multi-feedstock vegetable oil processing plant. The move will be part of the group's strategy to expand into key areas around the world where there is a growing demand for edible oils such as in southern Europe and north Africa. “The proposed plant, to be located in the coastal town of Port-la-Nouvelle, will also present an unprecedented opportunity for economic development and new employment,” it said in a statement yesterday. (StarBiz)
Thai AirAsia seeks USD200m from IPO
The Thai unit of AirAsia, Asia's largest budget carrier by fleet size, said yesterday it planned to raise up to USD200m from an initial public offering (IPO) in Bangkok in the fourth quarter. “We should raise US$150m to USD200m from the IPO and the proceeds will be used as cash reserve and to buy aircraft,” Thai AirAsia chief executive Tassapon Bijleveld told reporters. (StarBiz)
Sunway unit bags RM74.1m contract
Sunway Holdings’ unit Sunway Construction SB (SunCon) has secured a contract worth RM74.1m from Bio- XCell SB to undertake the engineering, procurement, construction and commissioning of a central utilities facility at Biotechnological Park Bio-XCell in Nusajaya, Johor. “The proposed project is targeted to be completed by 25 May, 2012. (StarBiz)
Golden Frontier selling Vietnam unit
Main-board listed Golden Frontier is selling its corrugated packaging business in Vietnam and will use the proceeds to embark on two new ventures in Malaysia. It planned to set up a paper mill in Sungai Bakap, Penang and a corrugated packaging facility in the Klang Valley which would eventually cost a total RM550m, said executive chairman and managing director Datuk Khor Teng How. Speaking after Golden Frontier's AGM yesterday, Khor said the company was selling its wholly-owned subsidiary Alcamex Packaging (Vietnam) Joint Stock Co to Siam Cement Group for USD21m (RM63m) cash. Alcamex owns three plants in Vietnam two in Ho Chi Minh City and one in Hanoi. (StarBiz)
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