Malaysia Daily Update

Protasco secures RM77m job to maintain roads in Sarawak

Protasco Bhd’s unit has bagged a RM77m contract to maintain the federal roads in Sarawak. Its unit HCM Engineering SB was awarded the contract by the Public Works Department. The contracts included the construction of four overtaking lanes in Sibu and Bintulu divisions. The project was expected to be completed by April next year. It expects the contract to contribute to its financial year ending Dec 31, 2015. (Source: Star Biz)

Faber’s hospital support contract is worth over RM3bn

The hospital support services (HSS) contract recently clinched by Faber Group unit, Faber Medi-Serve SB (FMS), is worth more than RM3bn. The value of the 10-year HSS agreement was RM307.32m per annum. FMS sealed this new concession for the provision of support services to government hospitals in Perak, Penang, Kedah and Perlis on March 11. On the same date, Faber's 40%-owned associate companies, Sedafiat and One Medicare, also signed concession agreements with the Government to provide HSS in Sabah and Sarawak. The value of these contracts was not disclosed in Thursday’s announcement. (Source: Star Biz)

Cahya Mata Sarawak buys 50% of Sacofa for RM186m

Cahya Mata Sarawak Bhd (CMS) is buying a 50% stake in Sarawak-state controlled telecommunications infrastructure arm, Sacofa SB, for RM186.8m in cash. Sacofa currently enjoys a monopoly in the state in providing telecommunication towers to telcos players, which include Celcom, DiGi and Maxis. It had signed a conditional agreement to acquire 42.4m RM1 shares at RM4.40 a piece from the State Financial Secretary (SFS), which currently owns a 70.51% interest in Sacofa. In March 2002, Sacofa was granted a 20-year exclusive right to build, manage, lease and maintain telecommunication towers in Sarawak. It was also given the “deemed native status” allowing it to acquire native lands in the state for construction of telecommunication facilities. (Source: Star Biz)

Telcos to cut broadband rates by more than 6%

Telecommunciations companies have agreed to reduce their broadband rates and the details of the reduction will be announced this month. The drop in broadband prices would be more than 6%. This reduction would help cushion the impact of the 6% imposed under the GST. (Source: Star Biz)

Wong leaves GD Express

GD Express Carrier Bhd executive director and chief operating officer Wong Eng Su has resigned from his position in the company on April 1, 2015. Managing director and group chief executive officer Teong Teck Lean will take over into the executive role. Lean, who is also a major shareholder of GD Express Carrier would oversee the group’s operations together with his current senior management team. (Source: Star Biz)

TNB Janamanjung power station receives BCM certification

TNB Janamanjung is the first power station in Malaysia to receive the Business Continuity Management ISO 22301:2012 certification. The certification, recognised by the Malaysia Book of Records, is an extension to the Publicly Available Specification for Asset Management (PAS 55-1: 2008) received in 2013. The certification is the result of more organised, effective and systematic practices in respect of risk management, business impact analysis, efficiency in preparations for reviving of operations and reduction in interruption impact on operations. (Source: Bernama)