U Mobile not for sale, says Tan5 December 2016 @ 11:00 AM
KYOTO, JAPAN: BERJAYA Group founder Tan Sri Vincent Tan has ruled out selling U Mobile Sdn Bhd, Malaysia’s fourth-placed mobile network operator, which recorded RM1.43 billion revenue last year.
Responding to market talk about a possible sale, Tan, who holds 6.2 per cent stake in the seven-year-old U Mobile, said he and other shareholders planned to keep the company for the long term.
“There are a lot of rumours that we want to sell. Selling the business is very simple. If somebody makes you an offer that you can't refuse, (of course) you would sell.
Local firms to benefit from ECRL2 November 2016 @ 11:00 AM
KUALA LUMPUR: MMC Corp Bhd and Gamuda Bhd (MMC-Gamuda joint venture) are expected to be the main beneficiaries among local firms of the East Coast Rail Line (ECRL) project, said a fund manager.
VCB Capital executive director and chief executive officer Mohd Amir Mokhtar said unlike other infrastructure development companies in Malaysia, MMC-Gamuda has the experience to undertake a railway job, which it gained from past projects such as the Ipoh-Padang Besar electrified double track project.
Higher GDV target for Malacca project6 October 2016 @ 11:00 AM
KUALA LUMPUR: Encorp Bhd has revised upwards the gross development value (GDV) target for its integrated township project in Bukit Katil, Malacca, by 30 per cent to about RM4.1 billion.
Chairman Tan Sri Mohd Isa Abdul Samad told Business Times that he was confident the market value would pick up next year, given the strong key economic indicators.
Encorp, which posted a net profit of RM8.8 million for the six months ended June 30, had earlier this year cut the GDV forecast for the project to RM3.2 billion because of unfavourable market conditions.
George Kent, CCCC bag RM1.01b deal25 August 2016 @ 11:00 AM
KUALA LUMPUR: George Kent (Malaysia) Bhd and China Communications Construction Co Ltd (CCCC) have won a RM1.01 billion work package for the mass rapid transit (MRT) Sungai Buloh-Serdang-Putrajaya (SSP) Line.
This is the third rail infrastructure project secured by George Kent in five years.
The company, controlled by Tan Sri Tan Kay Hock, previously won a RM1.1 billion signalling system package for Prasarana Malaysia Bhd’s light rail transit (LRT) Ampang extension line.
Tough times for real estate sector10 August 2016 @ 11:00 AM
KUALA LUMPUR: Certain real estate segments, including high-end condominiums, in key areas in Malaysia may not be in the pink of health now and in the near future, according to Knight Frank Malaysia.
The global property consultant, however, said there would be growth despite the cloudy outlook for all market sectors amid weakening in the domestic economy and global uncertainties.
Malaysia-Singapore HSR project a 'game changer' for both nations19 July 2016 @ 4:31 PM
PUTRAJAYA: The High-Speed Rail (HSR) project is expected to be a ‘game changer’ project for both Malaysia and Singapore, said Prime Minister Najib Razak.
Projected to be fully operational in 2026, he said the HSR would have a great multiplier effect for both nations, including generating about 30,000 jobs and creating new economic activities.
PRIDE sees more Naza TTDI deals4 July 2016 @ 10:59 AM
KUALA LUMPUR: PRASARANA Integrated Development Sdn Bhd (PRIDE) is not ruling out further tie-ups with Naza TTDI Sdn Bhd for property development projects.
PRIDE chief executive officer Datuk Mohd Zahir Zahur Hussain hinted at the launch of TTDI Segaris last week that there could be further collaborations with Naza TTDI for projects in Greater Kuala Lumpur.
September listing for EWI?24 May 2016 @ 11:09 AM
KUALA LUMPUR: ECO World International Bhd’s (EWI) listing may be pushed to September as it continues to court potential cornerstone investors, said sources close to Eco World Development Group Bhd.
Business Times understands that Employees Provident Fund (EPF), Permodalan Nasional Bhd, Retirement Fund Inc and Tabung Haji are looking at investing in EWI.
EWI’s initial public offering (IPO), which had been expected to take place next month, was also attracting overwhelming interest from foreign investors, said the sources.
PM: Malaysians can be world leaders17 May 2016 @ 11:01 AM
LONDON: The success of Malaysian companies in overseas markets proves that Malaysians can be world leaders and world beaters, said Prime Minister Datuk Seri Najib Razak.
Citing the regeneration of Battersea Power Station and Eco World International Bhd’s (EWI) three property developments in London as examples, Najib said such investments contribute to the government’s plan to raise Malaysia’s status to a high-income nation by 2020.
HSR may begin ops in 202725 April 2016 @ 11:00 AM
KUALA LUMPUR: The Kuala Lumpur-Singapore high-speed rail (HSR) system, Southeast Asia’s most ambitious infrastructure project, may start commercial operation in 2027.
The initial target was 2020 when the HSR project was first announced, but sources familiar with the matter said the completion date would likely be later.
“We have to look at negotiations between Malaysia and Singapore which have taken three years. They have been discussing aspects of technical, security, immigration and safety, as well as governance and implementation.