FBMKLI 1558.01 DJ-10.75 CRUDE OIL95.35 RM2.919

Salcon Bhd’s wholly-owned subsidiary, Salcon Engineering Bhd, has secured a RM16.2mil (243 million rupees) contract from Davanagere City Corporation, Karnataka, India, for the laying of raw water pumping mains and related ancillary works.

A consortium which includes Scomi Engineering Bhd has sealed an agreement with the Sao Paulo Metropolitan Company for the design, manufacture, supply and implementation of a monorail system in Brazil, the company told Bursa Malaysia yesterday.

Yinson Holdings Bhd is downsizing its current core activities of land transportation and logistic services businesses to focus on building and developing its oil and gas (O&G)-related activities.

Notion VTec Bhd said its controlling shareholders were still in negotiations with various parties over the latter’s interest to acquire the business or equity interest in the company.

It said that it was informed by the shareholders that “the negotiations with various parties are still on-going”.

FBMKLCI 1582.94 DJ+168.43 CRUDE OIL 95.15 RM 2.9860

Tanjung Offshore was awarded RM50 million contract by Petronas Carigali Sdn Bhd to provide three offshore support vessels for periods ranging between one and three years. The contract would see it providing the ships for the primary period from June and July 2011 respectively with options to extend between one and two years.

Wah Seong secured a US$45 million (RM136.78 million) contract from Australia Pacific LNG Pty Limited to provide pipeline coatings for the Australia Pacific LNG project in Australia. The contract secured by its pipe coating business unit on June 29 involved coating of over 700 km of pipes.

Petronas Gas inked a shareholders’ agreement with NRG Consortium (Sabah) Sdn Bhd (NRG) to provide operation and maintenance services to a 300-Megawatt gas power plant and its related facilities and infrastructure in Kimanis, Kota Kinabalu. The service would be provided through a joint venture company.

Notion Vtec announced that the controlling shareholders of Notion Vtec had abandoned negotiations to dispose of their business/equity interest after talks with the interested party fell through, just two weeks after it said negotiations were still on-going. Analysts said pricing could be an issue due the difficulties which the hard-disk drive manufacturers are facing. Perhaps, Notion VTec could brace for a mild recovery and await better offers.

The Edge weekly reports that Asia Media is seeking a boost from its broadcasting licence. The company's huge margins and licence to provide free-to-air broadcasting services are an attractive proposition for bigger media players eyeing a piece of the electronic media market.

Tebrau Teguh Bhd is shifting its focus to high-end residential and commercial developments from low to medium cost residential projects previously. Executive vice-chairman Johar Salim Yahaya said it was a normal progression or transition for any developer to shift its focus to development projects that provided better yields. It has 413.53ha of undeveloped land and 12km water frontage within the Tebrau-Plentong river basin development with a net book value of RM591.93mil.