Malaysia Daily

 UEM Sunrise unveils plans

UEM Sunrise has unveiled its comprehensive development plans for the second phase of Gerbang Nusajaya, attracting international investors into its commercial and business development. 1,841.72ha of the entire development were designed for growth via catalytic developments and strategic partnerships with established developers and multinational companies. (Source: Star Biz)

MATTA wants Customs to revisit software vendors

The Customs Department has been urged to revisit software vendors and human resource departments to ensure that they are well versed with the GST rules. Many of these approved software vendors seemed to have limited knowledge of the rules and were short of personnel to provide proper training for those who adopted the programs. (Source: Star Biz)

Pestech gets RM1.59bn concession in Cambodia

Power system engineering and technical solutions provider Pestech has become a concession owner in Cambodia after it secures a project worth RM1.59bn. It had signed an agreement with Cambodia’s Mines and Energy Ministry and state-owned Electricite Du Cambodge (EDC) to transfer the ownership of the 230kV Kampong Cham – Kratie Transmission System project to its 60%-owned Diamond Power. The build-operate-transfer project to bring electricity from the upcoming Hydro Power Lower Se San 2 hydropower plant in Stung Treng to Kratie is for a 25-year period. (Source: Star Biz)

EPF outsources RM86bn to external fund managers

Funds outsourced by the EPF to external fund managers rose 19% to RM86bn last year from RM72bn in 2013 as part of its diversification strategy. The outsourced funds were invested in both equity and fixed income instruments, representing approximately 14% of EPF total investment assets. EPF objective of achieving a real return of 2% dividend over a 3-year rolling period. (Source: Star Biz)

TNB now in control of 90.2% of Integrax

TNB has received acceptances for its general offer of Integrax shares, giving it a total of 90.2% holding in the latter. Tenaga also said that it did not intend to maintain the listing status of Integrax and would take the necessary steps to withdraw its listing in accordance with Bursa Malaysia’s listing rules. Meanwhile, Integrax had been informed that Tenaga would seek to compulsorily acquire the remaining shares it did not own once it received acceptances totalling 9/10 of the total shares it was seeking to buy though the general offer. (Source: Star Biz)

CBIP awarded RM50m contract by United Plantation

CB Industrial (CBIP) has been awarded an RM49.8m contract from United Plantations to design a palm oil mill at Ulu Bernam. CBIP’s unit – Modipalm Engineering SB – had received the LOA to design, supply, fabricate, deliver to site, erect, test, commission and guarantee performance for construction of a 60-tonne fresh fruit bunch per hour palm oil mill at Ulu Bernam. The letter of award is expected to contribute positively to the earnings of the CBIP group for the financial years ending Dec 31, 2015 and 2016. (Source: Star Biz)

Sarawak Cable unit gets RM27m job

A JV between a Sarawak Cable unit & PTIS Engineering SB has been awarded a RM26.89m contract. The unit, Trenergy Infrastructure had received the LOA from TNB for the setting up of the 275KV AIS Tanjung Langsat Industrial Estate switching station in Johor. The contract commenced yesterday. SCB expects the contract to contribute positively to the group’s earnings and net assets for the FYE2015. (Source: Star Biz)

Gadang to buy Semenyih land for RM96m

Gadang has proposed to acquire a 62.84-acre parcel of freehold land in Semenyih, Ulu Langat from Sementar Properties Sdn Bhd for RM95.8m in cash. In a circular to shareholders that its indirect unit Crimson Villa SB entered into a SPA with Sementar to acquire the land on Jan 30. It issued the circular to seek approval from its shareholders as well as provide the relevant information on the acquisition. The company will hold an EGM on April 23 to obtain approval for the acquisition. (Source: Star Biz)

Sime aborts JV with VTTI Asia

Sime Darby has announced that it will not be pursuing a JV with VTTI Asia to explore opportunities at Weifang Sime Darby Port in China. Sime Darby’s indirect subsidiary - Weifang Sime Darby Port - had entered into MoU with VTTI on Oct 25, 2013 to explore possibilities of jointly developing, owning and operating the bulk liquid storage terminal at Weifang Sime Darby Port. It had earlier said the MoU did not constitute any legal binding obligations between the parties until definitive and binding agreements were executed. (Source: Star Biz)

Boardroom changes at Masterskill

Masterskill (MEGB), which recently gained a new major shareholder, has announced several boardroom appointments. The company had appointed Gen (rtd) Tan Sri Mohd Shahrom Nordin as chairman, while former chairman and executive director Siva Kumar M. Jeyapalan had been redesignated as director. Shahrom is currently chairman of construction firm TRC Synergy and executive director (defence & business) at National Aerospace & Defence Industries (NADI) SB. (Source: Star Biz)

Takaso says in talks on joint ventures, possible acquisition

Takaso Resources Bhd is in the midst of discussions on several possible joint-venture projects and the possible acquisition of a company, all of which have not been finalised, it told Bursa Malaysia in a response to an unusual market activity (UMA) query yesterday. (Source: Star Biz)