Law-Shougang steel venture starts next month
Hiap Teck Ventures Bhd's 55%-owned Eastern Steel SB, controlled by businessman Datuk David Law Tien Seng, will begin work on the first phase of its integrated steel complex in Kemaman next month, with an initial cost of RM754m and a targeted completion by mid-2013. (StarBiz)
Pavilion REIT expected to raise RM710m from IPO
Pavilion Real Estate Investment Trust (REIT), a shopping mall trust part-owned by Qatar Investment Authority, is raising RM710m in an initial public offering (IPO), two people with knowledge of the matter said. The company plans to sell units at 90 sen apiece to institutions and at 88 sen to retail investors, said the people, who asked not to be identified as pricing details are private. Pavilion REIT had marketed the units at 88 sen to 90 sen. The IPO will be the Southeast Asian nation's fourth biggest this year, after share sales by Bumi Armada, UOA Development and MSM Malaysia. (BT)
Bursa Securities raps Faber for breaching listing rules
Bursa Malaysia Securities has publicly reprimanded Faber Group over the delay in announcing that Abu Dhabi’s municipal had not renewed its subsidiary’s contracts in January this year. The regulator said Faber had only announced on 12 Jan that the emirate’s Department of Municipal Affairs, Western Region Municipality had not renewed Faber Ltd Liability Co’s contracts, two days after it was informed of the decision. (Financial Daily)
SAAG in talks on RM600m Tamil Nadu project
SAAG Consolidated (M) said it is in the final stages of clinching a contract worth more than RM600m to build houses in the southern Indian state of Tamil Nadu. In a filing to Bursa Malaysia yesterday, the group said its India-listed subsidiary SAAG RR Infra Ltd is presently in advanced stage of negotiations with the main licensee of the affordable housing project in India which has the rights for the German technology to build 60,000 solar-powered affordable homes per annum for Tamil Nadu. (StarBiz)
MAS: Ong to replace Leong
Ignatius Ong Ming Choy is taking over from Datuk Eddy Leong as chief operating officer of Firefly. MAS, in a statement yesterday, confirmed Leong's resignation and said he would remain with the group until 31 Dec. He would be working with group chief executive officer Ahmad Jauhari Yahya for seamless business continuity by ensuring a smooth handover to Ong, it added. (StarBiz)
No comments:
Post a Comment