27 December 2011
Maybank: Targets the rich. Malayan Banking Bhd (Maybank) has appointed an international management consultant to conduct a study on how it could develop the wealth management business to cater to the affluent market in the region. (Source: The Star)
Parkson: Regional expansion plan. Parkson Holdings Bhd, which last month made a SGD138m initial public offering (IPO) of its Southeast Asian unit in Singapore, is looking to expand its footprint into the Philippines, Thailand and Myanmar through acquisitions or greenfield projects as part of its plans to become one of the region's largest department store chains. (Source: The Sun)
Transportation: RM950m for new trains. The government has budgeted nearly RM1b on new trains for the Ampang light rail transit (LRT) line extension project and KTM Bhd. It is learnt that tenders for the supply of 20 sets of six-car electric commuter trains for the LRT project closed on December 12, attracting six bidders. Their bids range between RM550m and RM780m. The contract is expected to be awarded by April. (Source: Business Times)
Market: More Malaysian firms investing in the country. The era of local companies preferring to invest in overseas markets has come to an end, says Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir. Local companies had seen a lot of excitement in the local economy due to the Economic Transformation Programme and the Entry Point Projects. Domestic direct investment (DDI) totalled RM19.7 b, or 48.4%, and foreign direct investment RM21b, or 51.6%, just slightly higher from that of October 2011. (Source: Business Times)
Renewable energy: List of RE quota. Sustainable Energy Development Authority (Seda) will soon publish renewable energy quota for feed-in approval (FiA) applications submitted this month. Under the Renewable Energy Act 2011, Tenaga Nasional Bhd is obliged to buy renewable power produced by licensed players at special rates. The rates are known as feed-in tariff, and referred to the idea of producers selling their energy to the power grid. It will list out the successful FiA applications, including details such as owner of the project, location as well as size. (Source: The Star)
(Information from MBB)
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