Tuesday, September 11, 2012

20120911 0941 Malaysia Corporate Related News.

The Battersea Power Station project here is expected to contribute significantly to  Sime Darby  group and its property division in the next two years. Sime Darby group  COO, Datuk Abd Wahab Maskan, said the project has attract interests from Malaysia as well as other countries, which included large property development investment companies. "There are interest shown by those who had suggested sub-joint venture and possible booking of retail blocks," Abd Wahab added. In terms of the expected profit margins from the investment, Abd Wahab said when the group invested in real estate, the minimal margin expected was 25 to 30%. (Starbiz)

SapuraKencana Petroleum's joint venture SapuraAcergy Sdn Bhd has secured a US$45m (about RM140m) contract to provide a vessel in the Gulf of Mexico. It said on Monday SapuraAcergy Sdn Bhd was awarded a contract to provide a vessel Sapura 3000 to Construcciones Maritimas Mexicanas S.A. de C.V. SapuraAcergy is a JV between SapuraKencana and Subsea 7 S.A."The award comprises provision of Sapura 3000 to undertake heavy lifts in the Gulf of Mexico region. The charter commenced on Aug 18, 2012 for a duration of 125 days," it said. (StarBiz)

Exports of Malaysian palm oil products for Sept. 1-10 rose 26.8% to 453,302 tonnes from 357,372 tonnes for Aug 1-10, cargo surveyor Intertek Testing Services said. (Reuters)

The Malaysian export of crude palm oil (CPO) is expected to pick up in the coming months, supported by the opening of more markets from emerging economies and a substantial discount to soybean oil.  Malaysian Palm Oil Council chairman Datuk Lee Yeow Chor is confident upcoming export figures for the country will strengthen as more markets open up in emerging economies, especially from Africa, Middle East and India. (StarBiz)

Africa may become a competitor to the Malaysian palm oil industry in the future, said an economist and professor of water services management at UNESCO-IHE during the International Palm Oil Sustainability Conference 2012. "Africa benefits from lower wages, its proximity to European countries and tax advantages - they don't pay duties because of the ACP (Africa, Caribbean and Pacific Group of States) status. These are three factors that in principle will work in favour of Africa," said Prof Dr Meine Pieter van Dijk. (Financial Daily)

The  New North Klang Straits Bypass (NNKSB), a 17.5km stretch of highway in Klang, Selangor, is up for sale, sources say. The highway, together with the concession rights, is hoped to fetch between RM350m and RM400m, a source said. The government had, as far back as August 1995, awarded the highway concession to Lebuhraya Shapadu Sdn Bhd, but the company  is currently under receivership. The project is understood to have cost about RM536 million, including the cost of land. The expressway commenced operations in 2002 and there are about eight years left before its concession expires. Lebuhraya Shapadu is part of Shapadu Corp Sdn Bhd, a diversified Bumiputera group involved in activities such as oil and gas, renewable energy and transportation. (BT)

UDA Holdings Bhd, the owner and master developer of the  Pudu Jail redevelopment project, will unveil its plans for the project by year-end, Grp MD Ahmad Abu Bakar said. UDA, wholly-owned by the Finance Ministry, had originally planned for the redevelopment of the site  - to be named  Bukit Bintang City Centre - to include a transit centre, serviced apartments, office space, recreational areas, hotel and commercial space worth RM34bn. The ministry wants the 8ha site to be split into three parcels, two of which must have significant Bumiputera participation. UDA prefers Everbright International Construction Engineering Corp's (EICEC)  proposal, which features a large shopping mall with an ice rink and a 1,600-seat cinema that is located directly above the Kowloon MTR station. (BT)

The Construction Industry Development Board (CIDB) is upbeat that the construction sector will perform at its best next year with more than RM150bn in government projects coming on stream. They include the RM62bn Petronas Refinery and Petrochemical Integrated Development (Rapid), the My Rapid Transit (MRT), the RM26bn Tun Razak Exchange, and the KL-Singapore high-speed rail (HSR). The Land Public Transport Commission (SPAD) is expected to kick-start the process of calling for tenders for the HSR, which is estimated to be worth around RM25-30bn, by mid-2013. (BT)

Bank Simpanan Nasional (BSN) expects its net income to touch RM1.3bn by the end of this year from RM1.032bn in 2011, mainly driven by higher loan revenue and better utilisation of the community bank through various government initiatives. Deputy chief executive for retail banking, Winston E. Jeyaprakash said BSN expects better contribution this year from its non-interest income with its enhanced infrastructure for wealth management and remittance. He said 2012 is expected to be a better year for BSN as it has plans for enhanced versions of existing products as well as better and efficient online banking services. (BT)

Sabah Energy Corporation is subscribing for a stake in Petronas Gas's unit which will undertake the construction and development of the LNG regasification facilities in Lahad Datu, Sabah. Sabah Energy would subscribe for one share of RM1,000 in Regas Terminal (Lahad Datu) Sdn Bhd (RGT). "The agreement further provides for Sawarak Energy with the option of subscribing up to 20% of the equity of RGT within a stipulated time period," it said. The facilities are scheduled to be completed in 2015 and will have a send out capacity of 760k tonnes p.a. (Starbiz)

TSH Resources Bhd and partners may unveil a new game plan for Pontian United Plantations Bhd's investors as part of its renewed takeover offer plan for the company. TSH Resources chairman  Datuk Dr Kelvin Tan Aik Pen said the plan will be positive for shareholders, with added value. "TSH is a long-haul player in the industry and we want to stay in the marathon. The new plan will have value for shareholders," Tan said.  He, however, declined to elaborate, saying TSH will issue a statement this Friday followed by the unveiling of the new game plan in the next two weeks. (BT)

LBS Bina Group Bhd's (LBGB's) wholly-owned subsidiary, LBS Bina Holdings Sdn Bhd, has entered a deal to acquire an 18% stake in property development company Casa Inspirasi Sdn Bhd (CISB) for RM10m cash. The proposed acquisition will increase LBS's stake in CISB to 58%. "The acquisition represents a further opportunity for LBGB group to strengthen its position and market presence in Cameron Highlands, particularly in the vibrant Brinchang town," LBGB said. (StarBiz)

Firefly is believed to be returning to its jet operations as early as next year. Business Times has learnt that Firefly is considering Canadian aircraft maker Bombardier Aerospace as a potential aircraft supplier to diversify from its current fleet of  turbo-propeller planes ATR. ―It is not known if Firefly will reinstate the East Malaysia routes, but other routes being considered when the community airline expands into jets are Myanmar and Vietnam,‖ aviation sources said. CEO  Ignatius Ong said, ―We are looking at all turboprop options on the table which can cater to our existing network for increases in frequencies, as well as a longer range within Asean to give us more potential destinations. Malaysian Airlines had, since early 2011, used Firefly to compete against  AirAsia by launching competitively-priced flights from Kuala Lumpur to Sabah and Sarawak. In October last year, the national carrier said the Boeing 737-800 aircraft operated by Firefly will be redeployed into the parent company’s operations, effective December 4 2011. MAS had, at the time, cited heavy losses being incurred by Firefly’s jet operations. (BT)

Pintaras Jaya has won a contract worth RM21.6m from Sime Darby Melawati Development Sdn Bhd to undertake piling and pile cap works for a condominium project in Desa Melawati, Setapak. (BT)

Perwaja Holdings clinched an iron ore mining concession in Bukit Besi from the Terengganu government, MD Tan Sri Pheng Yin Huah said. Although a concession of sorts would usually last up to 42 years, it is still subject to the state. (Financial Daily)

UDA Holdings Bhd will submit the master plan for the redevelopment of the former Pudu jail site to the Finance Ministry by year-end, said group managing director Ahmad Abu Bakar. "We will submit it to the ministry and let it [the government] decide," he said. Last year, the government directed UDA to redraw the master plan to enable the participation of more bumiputeras in the real estate sector in Malaysia. (Financial Daily)

Media Prima: Looking ahead to Next Big Thing. MEDIA Prima Bhd yesterday unveiled its joint initiative project to boost the local multi-billion creative industry, called The Next Big Thing.The project, collaborated with three other parties, Multimedia Development Corp (MDec), Cradle Fund Sdn Bhd and Rhythm & Hues Studio is aimed at recognising and nurturing creative local talent to become globally competitive. (Source: Business Times)

Hing Yiap: Acquisition of Asia Brand “fair”. Hing Yiap Group’s acquisition of six companies from Asia Brand group (ABG) for MYR245m is “fair” said independent adviser, Ferrier Hodgson, in a filling to Bursa Malaysia today. (Source: The EdgeDaily)

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