28 December 2011
WCT: In Vietnam property venture. WCT Bhd's wholly owned subsidiary WCT (S) Pte Ltd has been awarded an investment certificate by the People’s Committee of Ho Chi Minh City (HCMC) to undertake a residential and commercial mixed development in the Vietnamese city. The project, covering 46,577 sq m, would be at the new urban development area of Saigon South. WCT owns 70% of WCT-DPN Co Ltd that will develop and manage the project, while Southern Land Corp owns the remaining 30%. (Source: Bursa Malaysia)
Bumi Armada: Acquisition of asset. Bumi Armada Bhd's wholly-owned subsidiary, Bumi Armada Offshore Holdings Sdn Bhd (BAOHL) has exercised its option to purchase Rainbow River vessel for a cash consideration of RM68m. The acquisition will be completed upon the delivery of the vessel expected in the first quarter of 2012. (Source: Bursa Malaysia)
JCorp: Mulls hotel sales. Johor Corp (JCorp) is considering selling some of its hotel assets and reinvesting the money to drive earnings from its hospitality business. JCorp Hotels owns and manages five properties in Johor namely The Puteri Pacific Johor Bahru, Persada Johor International Convention Centre, Sibu Island Resort, Selesa Johor Bahru and Selesa Pasir Gudang, and one in Negri Sembilan, which is Selesa Port Dickson. (Source: Business Times)
Plantation: Felda on track to list by April. The plan to list Felda Global Ventures Holdings Sdn Bhd (FGVH) by April next year is on track, said its President and CEO Datuk Sabri Ahmad, amid mounting opposition from various groups claiming to represent the settlers' interests. FGVH is firm in its mission to get the listing done within the time frame. (Source: The Edge Financial Daily)
Energy: Bids for new power plant begin. The bidding process for the 4,500MW power generation to replace the capacity of the first-generation power purchase agreements (PPAs) and to cater to new demand beyond 2016 has started. The Energy Commission (EC) has issued a notice for prospective bidders for the development of a combined cycle gas turbine (CCGT) power plant in Peninsular Malaysia. The CCGT power plant was to sell its capacity and energy to Tenaga Nasional Bhd (TNB) under a new PPA. (Source: The Star)
(Information from MBB)
