01 December 2011
SP Setia: Wins bid for Singapore project. SP Setia Bhd has won the bid to develop Chestnut Avenue, a 18,700 sq m parcel of land in Singapore, for a total tender sum worth RM437.4m. The land tender would be granted a lease term of 99 years and was to be developed into condominiums or flats. (Source: The Star)
Silver Ridge: Gets new core business. Silver Ridge would work together with Huatai Financial Holdings (Hong Kong) Ltd to promote the Huatai Von Malaysia Fund, which has a fund size of USD500m (RM1.5b), MD Datuk Mohd Suhaimi Abdullah said after the signing of memorandum of understanding between Huatai and Warrants Capital Sdn Bhd to jointly develop investment and business opportunities in Malaysia (Source: The Star)
Kenanga, ECM Libra: IB sale back on? K&N Kenanga Holdings Bhd has cleared the first hurdle to acquiring ECM Libra Financial Group’s investment banking unit after receiving the go-ahead from BNM some three weeks ago. Sources said that consideration will be in cash and this will make ECM Libra a cash-rich entity, enabling it to pursue new business interest. (Source: The Edge Financial Daily)
CIMB: Plans to expand operations in Sri Lanka. CIMB Group Holdings Bhd plans to expand into stockbroking and commercial banking in Sri Lanka after opening an investment advisory office there recently. CIMB Group CEO Datuk Seri Nazir Razak said at a media briefing that CIMB will look to diversify into more capital-intensive activities as they gain momentum in Sri Lanka.(Source: Business Times, The Edge Financial Daily)
Transport: Prasarana mulls further expansion of KL monorail service. Syarikat Prasarana Negara Bhd (SPNB), which is increasing the capacity of its monorail system, plans to expand the network to cover other commercial areas within Kuala Lumpur. Yesterday, SPNB signed an agreement to award Scomi Engineering Bhd a RM494m contract to supply new and bigger trains and undertake work to upgrade RapidKL Monorail stations around the city. (Source: The Sun)
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