FBMKLCI 1571.56 DJ-23.54 CRUDE OIL90.92 RM 3.03

Suria Capital Holdings Bhd's wholly owned subsidiary SCHB Engineering Services Sdn Bhd and its consortium partners have been awarded a RM1bil engineering, procurement, construction and commissioning (EPCC) contract for a power plant project in Sabah. The contract from Kimanis Power Sdn Bhd involves the construction of a 300MW combined-cycle gas turbine gas-fired power plant project in Kimanis, Sabah, Suria Capital told Bursa Malaysia yesterday. The construction period is three years. SCHB's consortium partners include CTCI Corp, CTCI Overseas Corp Ltd, CTCI Malaysia Sdn Bhd and Steamline (M) Sdn Bhd.

Johor Corp Bhd (JCorp) says it will focus on enhancing its core businesses and resolving its debt of RM3.6bil this year. “Our primary focus now is to enhance our core businesses. JCorp's majority owned public-listed companies are spearheading the palm oils, foods and restaurant, and healthcare divisions while JCorp directly manages property development and hospitality divisions.” “The immediate task now is to resolve the debt of RM3.6bil that comes due mid-next year and we have identified the means of achieving this,” it said in a statement yesterday. JCorp said it would be assisted by Maybank and CIMB Bank.

The Selangor government had in December promised to allow the federal government to build the Langat 2 water treatment plant, which is part of the Pahang-Selangor Interstate Water Transfer Project. Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui said his ministry, however, was still waiting for the approval in writing from the state government, which was expected to be received this month. “Although we are seven months late, the state government's latest decision means that we can proceed. And we are going ahead with the tender this month or by February. The approval means the last hurdle has been removed,” he said after meeting with the ministry's officers and staff, here yesterday.

 

Sime Darby, through Sime Darby Property, will be launching 15 projects across 10 townships in the first half of this year. Its head of marketing development, Henri Young said, the townships include Putra Heights and USJ Heights in Subang Jaya, Denai Alam (Shah Alam) and Bandar Bukit Raja (Klang). "There is still strong demand for landed and residential properties in Malaysia," he said yesterday. He said the company's previous projects in Denai Alam, Bandar Bukit Raja and the USJ Heights townships were sold out within two months.

Hubline’s core business is the provision of container and dry-bulk shipping services as well as vessel chartering. RAM Ratings said the revision in outlook is premised on our concerns that the group’s financial performance may remain depressed by weak freight rates (for both its container and dry-bulk shipping segments) and poor dry-bulk cargo volumes. “Large incoming supply of newbuilds will further pressure freight rates which have yet to stage a meaningful recovery. At the same time, uncertainties in economic recoveries of advanced economies may further dampen market outlook,” said the ratings agency.

SEG INTERNATIONAL BHD declared a special dividend of 14 sen per share which will go ex on Jan 27 while its entitlement date is Jan 31.

The Perak state government is considering setting up its own low-cost carrier terminal (LCCT) in the northern part of the state. "We have had a few discussions with AirAsia on the matter and we have proposed several locations in Perak, and they have stated their preference for one particular location," Menteri Besar Datuk Seri Zambry Abd Kadir said yesterday. The site is expected to be in the vicinity of Parit Buntar and Taiping, which is in the area of the Northern Corridor Economic Region. Zambry explained that the state government was waiting for the right time to bring it up to the federal government to decide on the suitability and viability of the project.