FBMKLCI 1528.01  DJ:+10.29 CRUDE OIL: 87.90 RM: 3.09

Syabas sues Selangor govt for RM471.6m

 Puncak Niaga Holdings’ subsidiary, Syarikat Bekalan Air Selangor SB (Syabas), has sued the Selangor state government for RM471.64m. Puncak Niaga claimed that the RM471.64m was due to it as compensation for the period between 1 January 2009 and 31 December 2009 in return for not raising water tariffs

HSL wins RM67m Sarawak road job

 Hock Seng Lee (HSL) has been awarded the RM67.3m Tuie/Supa/Manggut Road construction project in Betong, Sarawak by Adiqa Engineering SB. The scope of works included earthworks, road, drainage and other related works. The project is due to be completed by May 2013. (Starbiz)

MAS signs up maintenance support for B737-800s

 Malaysia Airlines Engineering and Maintenance (MAS E&M) and Air France Industries and KLM Engineering and Maintenance (AFI KLM E&M) have signed a 10-year component support contract for 35 if the carrier’s fleet of B737-800s, with an option for a further 20 aircraft. The 737 Component Services Programme was operated in partnership with Boeing.  The contracts also provide AFI KLM E&M to create a component spares pool in the company’s facility to exclusively support the airline’s B737-800s. Simultaneously, a regional component pool would be set up in Kuala Lumpur to provide services to MAS and other customers. (Starbiz)

Khazanah  to let fly stake in MAHB for RM404m

Khazanah Nasional, Malaysia’s sovereign wealth fund, plans to sell a second tranche of shares in Malaysia Airports Holdings (MAHB) for as much as RM404m. According to a wire report yesterday, the government owned investment arm plans to place out 66m shares, or a 6% stake, at an indicative price range of RM6-RM6.12. The report said Khazanah which sold a 7.7% stake in MAHB in March, has an upside option to sell an additional 22m shares. This latest sale is being managed by Nomura Holdings Inc, HSBC Holdings plc and RHB Capital. (MalaysianReserve)