07 December 2011
AirAsia: Wants SLA for KLIA2. AirAsia Bhd wants MAHB to implement its requests by providing a service level agreement (SLA) which should incorporate aeronautical charges at KLIA2. Correspondingly, MAHB has responded positively to the request for SLA. AirAsia has asked for a full and parallel taxiway to Runway 2 that can save the airline some RM40m in additional fuel cost yearly. (Source: The Edge Financial Daily)
MAS: New revamp plan. MAS has put together yet another business plan to turn itself around. It is learnt that the new management of the national carrier, which had undergone several revamps, has been working on the plan for the past two months. This time the focus is on growing the routes in Asia, improving on products, cutting unprofitable routes and forming alliances with more airlines according to a source. (Source: The Star)
Maybank: Assets under custody set to grow 20%. Maybank expects its new eCustody service to grow assets under custody by 20% next year, from RM50b at June 30 this year. eCustody is an online module within Maybank's enterprise cash management portal, Maybank2E.net. Deputy president and head of global wholesale banking Abdul Farid Alias said that Maybank's local and international assets under custody stood at RM37b at June 30, 2010. (Source: The Star)
Ekovest, MRCB: JV gets River of Life project. Ekovest-MRCB JV Sdn Bhd, a 60:40-JV between Ekovest Bhd and MRCB has finally been appointed the project delivery partner (PDP) for the RM2.2b Klang river rehabilitation and beutification project known as the River of Life project. The JV as the PDP will receive 1% of the estimated value of the project of RM2.2b as compensation for managing and coordinating. (Source: The Edge Financial Daily)
Wijaya: To start Papua timber ops by April. Wijaya Baru Global Bhd, which won shareholders' approval today to acquire a 80,000ha timber concession in Papua province, Indonesia for USD80m (RM252.6m), hopes to start extracting logs from the area by April next year. The target is to harvest RM727m worth of timber in the first year of operation. Group CEO and executive director Datuk Faizal Abdullah said the company will need another RM40m to build up the necessary infrastructure at the site, including a RM10m sawmill. (Source: The Sun)
Guocoland: Buys Cheras land for RM108m. Guocoland Bhd said today an indirect wholly-owned unit Ace Acres Sdn Bhd has proposed to acquire an 18.9ha parcel of land in Cheras here from Bonds Corporation Sdn Bhd for RM107.9m. The property consists of nine parcels of contiguous land sandwiched between Alam Damai and Bandar Damai PerdanaTaman. The transaction valued the land at RM53 per sq ft. (Source: The Sun)
(Information from MBB)
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