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Old July 30th, 2008, 06:38 AM   #81
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Malaysia To Continue Promote Outward Investments
July 29, 2008 21:50 PM
From Minggu Simon Lhasa

HO CHI MINH CITY, July 29 (Bernama) -- The Malaysian Government will continue to promote outward investments, particularly to Association of South-East Asian Nations (Asean) member states, and is offering various incentives and facilities to promote cross-border investments.

"Malaysian companies should be aware of development in Asean, which is committed to realising the free flow of goods, services and investments within the region by 2015," Minister of International Trade and Industry, Tan Sri Muhyiddin Yassin, said at a luncheon for representatives of Malaysian companies here Tuesday.

Muhyiddin said his ministry and its agencies, such as Malaysian External Trade Development Corp, Malaysian Industrial Development Authority and Small and Medium Industries Development Corp, would continue to help Malaysian companies venture overseas.

He said the incentives included tax exemptions on income earned overseas and remittances back to Malaysia, tax deduction for pre-operating business expenditure in connection with proposal to undertake investment in business ventures overseas and tax deduction on the acquisition of foreign-owned companies abroad.

"The Malaysia-Singapore Third Country Business Development Fund and the Services Export Fund are also available," he said.

On Vietnam, he said, although it was facing challenging times with high inflation, increase in fuel and commodity prices, and high interest rates, there were opportunities in the country.

"Vietnam is undertaking numerous infrastructure projects, particularly in energy-related sectors," he said.

Muhyiddin said Vietnam received US$5.4 billion (US$1=RM3.25) in official development assistance from donor countries this year and urged Malaysian companies to be on the lookout for opportunities in the country.

He said doing business in any foreign country was not going to be easy and there were problems such as language, unclear interpretation of laws, hidden cost, tax element and sensitivity on contract matters.

"However, Vietnam is taking a number of measures to address the concerns of foreign investors," he said.

Muhyiddin, who wanted the Malaysian Business Chamber Vietnam to assume proactive role in promoting and assisting Malaysian companies, suggested that it acted as an advisory body to potential Malaysian investors in Vietnam.

-- BERNAMA
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Old July 30th, 2008, 06:42 AM   #82
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Trade Mission To Vietnam Sees Over RM2 Bln In Potential Projects
July 30, 2008 12:47 PM
From Minggu Simon Lhasa

HO CHI MINH CITY, July 30 (Bernama) -- The fast-growing Vietnamese economy has proven to be a goldmine for Malaysian companies with four potential joint venture projects worth RM2.06 billion reported by companies in the Malaysian trade and investment mission.

The potential joint ventures comprised a sewerage treatment plant and three projects to be imlemented by Inai Kiara Sdn Bhd with its local partner, Vietnam Waterway Construction Corporation.

In the mission to Hanoi and Ho Chi Minh City which concludes Wednesday, the delegation members also managed to secure RM1.2 million worth of immediate sales of information and communications technology (ICT) solutions and potential sales of RM4.884 million that include architectural system, higher education, wire cables, ICT products and services.

In Hanoi, a total of 115 individual business meetings were held by 39 Malaysian companies represented by 62 business people with the Vietnamese side, while in Ho Chi Minh City, 152 business meetings were held by 35 Malaysian companies with the local business community.

The Malaysian delegations in both cities were also supported by 19 officials.

Malaysia is already the largest investor in southern Vietnam and ranked sixth largest overall in the country with approved investment worth US$9.6 billion.

Among the biggest deal was the RM3.5 billion commercial and university township project in Ho Chi Minh City undertaken by the Berjaya group.

Several billion ringgit worth of other projects are being negotiated or reviewed.

Vietnam's Deputy Premier Hoang Trung Hai also informed Minister of International and Industry Tan Sri Muhyiddin Yassin that Jaks Resources' proposal to set up a 1,2000-megawatt power plant with investment worth RM1.2 billion is in the final stage of evaluation by the country's investment approval committee.

During a courtesy call by Muhyidddin, Hai also informed that Vietnam was in the process of strengthening its legal and regulatory framework, shortening the time for investment approvals and enhancing coordination among the various approving authorities.

There are more opportunities for Malaysian companies as Vietnam's Ministry of Planning and Investment, and the State Capital and Investment Corporation identified 162 projects for participation by foreign investors, including those from Malaysia.

-- BERNAMA
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Old July 30th, 2008, 06:44 AM   #83
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Bahrain International Circuit

The fisrt ever F1 racing circuit on a desert, equipped with the world's most advance facilities, covers a total area of 170 hectares. This made WCT as the only contractor in the world who built 2 of the 4 modern F1 racing circuits in the world. WCT is also the main contractor/ builder of the Sepang F1 Circuit, Malaysia.

Completed in March 2004, the scope of the Project involves the construction and maintenance of Bahrain International Circuit complete with all the buildings, racetracks, tunnels, paddock area, roads and other related infrastructure works in compliance with FIA rules and regulations. The mandate also includes all electro-mechanical installation, drainage, stormwater disposal and landscaping. Despite changes made in the project’s design and demanding working conditions, Cebarco-WCT completed and delivered the project to the Ministry of Works & Housing of Bahrain two days ahead of schedule, with a record time of 16 months".

The major quantity are as follows :
- Eathworks, Rock Excavation (730,000m3)
- Soft Excavation (120,000m3)
- Five different individual tracks
- 5.411km Grand Prix track (up to 18m width, 12 turns)
- 2.55km inner track (13m to 15m width, 8 turns)
- 3.664km outer track (13m to 17m width, 10 turns)
- 1.2km drag strip (18.5m width)
- 2.5km test oval
- Total Built up area of 65,000m2 (Main Grandstand, Pit building, Ancillary Buildings, 9-storeys VIP Tower & Plant Building).

Awards won by WCT for this project :
1. CIDB Malaysian Construction Industry Excellent Award 2004 - International Achievement Award
2. 16th International Construction Award - Trade Leaders' Club, Madrid, Spain 2004







Source : WCT Engineering Berhad
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Old July 30th, 2008, 06:49 AM   #84
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Platinum Plaza, Ho Chi Minh City, Vietnam
The Platinum Plaza Development Project



Strategic Location

The Project is located at Zone 11A, Binh Hung Commune, Binh Chanh District, New Southern Urban Area of HCMC. It is flanked by the Provincial Road No. 50 which runs in a north-south direction across HCMC and fronts the busy 10-lane Nguyen Van Linh Parkway (also known as the East-West Highway), which leads to the nearby modern township of Phu My Hung and District 1, the central business district of HCMC. Further, it is conveniently connected to the Chinatown area of District 5 located about 4 km away.

The Project site is easily accessible via the existing network of roads and highways. The Nguyen Van Linh Parkway will in the near future connect the Project site to the new Long Thanh International Airport located 40 km east of the site.

Westwards, Nguyen Van Linh Parkway intersects the National Highway No. 1A which provides a convenient connection to the Mekong Delta in the south and the existing Tan Son Nhat International Airport 30 km to the north.

The City has allocated two (2) metro stations to serve the Project and their construction in the near future will further enhance the accessibility and connectivity of the Project site.

Due to its strategic location, the Project is expected to act as the catalyst for the rapid growth planned for the southern part of HCMC which has been identified to be the new administrative, cultural and commercial hub of the City.

Components of the Project

The Project is an integrated development providing retail and wholesome family entertainment amenities and is proposed to be carried out in 3 phases over a period of 4 years after the completion of land compensation and clearance. The Project will comprise a basement car park and a 3-storey elevated car park, a retail and entertainment centre, a multi-purpose hall, a 4-star hotel, a block of SOHO (small office home office) and two (2) blocks of office towers of 22 storeys each. The total gross floor area is approximately 671,960 sq. metres (approximately 7.2 million sq. ft.).

Source : WCT Engineering Berhad
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Old July 30th, 2008, 08:47 AM   #85
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MKP Group Keeps The Malaysian Flag Flying High In Zambia


LUSAKA, July 30 (Bernama) -- Malaysia's MKP Group has established a US$12 million private hospital in the Zambian capital Lusaka which,according to its administrators, is among the best in the country.

Construction of Trust Medical Services (TMS), started in January 2007 and was completed a year later, said the MKP representative in Zambia and TMS chairman Yazid Merzouk.

"Our aim is to provide high quality medical and nursing care within a safe and friendly environment," he told reporters during a visit to the hospital by Deputy Prime Minister Datuk Seri Najib Tun Razak.

Najib is in Lusaka for the Global Southern Africa International Dialogue (GSAID) 2008.

The hospital, which had its soft launch in May, currently has a staff of 65.

Besides healthcare, MKP is also involved in other sectors such as construction, mining, finance and security as well as a motorcycle business.

Merzouk said MKP had a copper mine in Mumbwa, located about 150km from Lusaka.

Touching on its construction portfolio, he said MKP had completed several projects in Zambia, such as the US$18 million contract to build the Mulungushi Conference Centre, the venue of GSAID 2008, and 21 luxury villas a few years ago.

Another project comprising 46 semi-detached double-storey houses was also sold-out at US$160,000 per unit, Merzouk said.

MKP just launched a project to build 32 units of four-bedroom semi-detached houses for sale at US$300,000 per unit.

He said among the pitfalls of the construction sector were pricey materials, high transport costs and the fact that a qualified workforce had to be sourced from outside.

Besides Zambia, MKP has business operations in countries like Congo and Angola.

-- BERNAMA
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Old July 30th, 2008, 10:31 AM   #86
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Sunway Opus Grand, India by Sunway Group
Sunway Opus Grand will be officially launched in November 2008.



Having joined hands in partnership, Sunway City Berhad of Malaysia and Opus Developers & Builders (P) Ltd. of India together have united as one, bringing to you a stunning residential enclave in India, ushering in a little bit of Malaysia to Hyderabad. Introducing Sunway Opus Grand, proudly presented to you by SUNWAY OPUS INTERNATIONAL PVT LTD.

Sprawled over 35-acres of prime land, Sunway Opus Grand offers Hyderabad more than 2,000 units of Luxury Apartments. With an emphasis on nature, the development is adorned with lush landscape and is complimented by a well equipped Floating Clubhouse.

This development’s modern and contemporary architecture is designed to meet international standards, while being Vaastu-compliant at the same time.

Enhanced security is provided within a gated and guarded environment to assure peace of mind.

To receive more information on this premier project by Sunway Opus International Pvt. Ltd, please email your enquires to sunwayopusgrand@sunway.com.my
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Old July 31st, 2008, 06:59 AM   #87
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Malaysian Companies Urged To Get Correct Information Before Venturing Overseas Markets

From Minggu Simon Lhasa

HO CHI MINH CITY, July 30 (Bernama) -- Malaysian companies planning to venture into overseas markets such as Vietnam, should get the correct information regarding conditions there.

This includes legal matters, government liaison and opportunities available.

The Minister of International Trade and Industry Tan Sri Muhyiddin Yassin said if local investors assumed conditions in Vietnam would be the same as in Malaysia, they would be disappointed.

Many things are still not in place in Vietnam and the business risks are higher.

"But if accurate assessments are made, it can bring profits," Muhyiddin said when commenting on the trade and investment mission to Vietnam. Muhyiddin said that investors also need to take an aggressive approach and not be complacent.

"The Vietnamese have shown interest but if we expect the opportunities to come rolling to us, it will not happen," he said.

He explained that apart from Malaysia, investors from Singapore, Thailand, Japan, China and South Korea were also exploring opportunities in Vietnam with large capital and expertise in hand.

The competitive factor cannot be avoided, he said.

He also advised investors that in business to business relationships, the aspect of who made the decision was important and therefore too much should not be expected from a single meeting.

"There is still so much that we have yet to understand. Even their working culture is unknown. There needs to be an indepth study," he said.

-- BERNAMA
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Old July 31st, 2008, 09:36 AM   #88
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Oyster Cove, Australia
a project by Brunsfield Group


Between the hustle of the gold coast and the bustle of Brisbane lies a vast stretch of blue water, green islands and gorgeous lifestyles. This is the Gold Coast's precious North Shore, where the waters of the Coomera River flow into the South Pacific via the myriad channels of the southern Moreton bay. Minutes away from major shopping complex · Close to health & medical facilities · Prestigious schools nearby · Easy commuting to Brisbane by train or M1 freeway Equidistant between Coolangatta and Brisbane International Airports.



http://www.oystercove.com.au/
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Old July 31st, 2008, 10:12 AM   #89
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Al Reem Island Development Project (Zone C, Phase 1, Plot 1) in Abu Dhabi, UAE





© Copyright 2008 IJM Corporation Berhad.
Quote:
Al Reem Island (Arabic: جزيرة الريم) is a residential, commercial and business project on Al Reem Isle, a natural island 600 meters off the coast of Abu Dhabi island. It is currently being developed separately by Sorouh (Shams Abu Dhabi), Reem Investments, and Tamouh. Reem Developers quote the overall dimensions of the project as 6.5 million square meters and investment costs as exceeding $30 billion. The project has gained international interest as one of the first free zones in Abu Dhabi, where foreign nationalities can buy property as leasehold. In total, at least 22,000 residential units are planned (figures do vary significantly between different sources) with the first buildings to be completed by 2009, in Marina Square.
Source : http://www.veritas.com.my



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Old August 1st, 2008, 07:26 AM   #90
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Inai Kiara sasar projek RM460 juta di Vietnam

HO CHI MINH CITY 29 Julai - Inai Kiara Sdn. Bhd. bakal menjadi antara pelabur terbesar Malaysia di Vietnam menerusi usaha samanya dengan Veitnama Waterway Construction Corporation (Vinawaco) bagi melaksanakan beberapa projek yang dianggarkan bernilai AS$200 juta, RM460 juta.

Di antara projek yang dijangka dilaksanakan bersama kedua-dua syarikat itu ialah pembinaan Terminal Kontena Antarabangsa Cai Mep, kerja pengerudian dan penambakan untuk projek Janakuasa Vinh Tan dan projek Zon Ekonomi Van Phong di Daerah Khanh Hoa.

"Kita masih lagi di peringkat awal perbincangan dan meneliti beberapa projek yang dilihat berpotensi untuk dilaksanakan bersama," kata Pengurus Kanan, Pembangunan Perniagaan Antarabangsa Inai Kiara, Edy Hasmy.

Beliau berkata, Inai Kiara harus meneliti beberapa aspek perundangan seperti syarat dan peraturan untuk membawa kapal korek serta kelengkapan marin di perairan Vietnam.

Inai Kiara menandatangani perjanjian persefahaman (MOU) dengan Vinawaco semalam di Hanoi bagi melaksanakan beberapa projek mega dalam pembangunan infrastruktur marin di Vietnam.

Majlis itu disaksikan oleh Menteri Perdagangan Antarabangsa dan Industri Tan Sri Muhyiddin Mohd Yassin yang sedang mengetuai misi pelaburan dan perdagangan ke Vietnam yang berakhir esok.

Inai Kiara diwakili oleh Pengarah Urusannya Kapten Hisham Hashim sementara Vinawaco diwakili Pengurus Besarnya, Luu Dinh Tien.

Vianawaco ialah syarikat yang berdaftar di bawah Kementerian Pengangkutan Vietnam dan mempunyai pengalaman luas dalam bidang kejuruteraan marin serta terbabit secara langsung dalam pembangunan infrastruktur marin di Vietnama.

Inai Kiara pula ialah kontraktor Bumiputera berasaskan marin bersepadu yang berhasrat untuk mengorak langkah dalam mengembangkan peluang perniagaan di peringkat antarabangsa.

- Bernama
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Old August 6th, 2008, 10:24 AM   #91
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Mah Sing mulls RM1b Vietnam venture
Published: 2008/08/06



# The Malaysian developer is looking to expand across Asia to almost triple sales within five years to as much as RM1.5 billion

# An analyst says it’s a good diversification strategy, while another says it’s very bold and a bit too optimistic


MAH Sing Group Bhd, a Malaysian developer, is considering a Vietnam venture valued at more than RM1 billion (US$310 million) for its first step overseas, as a faltering home economy slows the company’s sales.

“You need to diversify your earnings stream by going overseas,” group managing director Leong Hoy Kum, 50, said in an interview in Kuala Lumpur yesterday. “We can’t depend only on Malaysia for our growth. The foreign market is a must.”

Mah Sing, which cut this year’s revenue forecast by half because of rising building costs and Malaysia’s slowing economy, is looking to expand across Asia to almost triple sales within five years to as much as RM1.5 billion. Its stock has tumbled 25 per cent this year, faster than the benchmark Kuala Lumpur Composite Index’s 22 per cent slide.

“It’s very bold and a bit too optimistic,” said Fatimah Zahra Fadzil, an analyst at Inter-Pacific Capital Sdn. who has a “neutral” rating on Mah Sing stock. “These are volatile markets. It’ll be very difficult to achieve that target.”



Malaysia’s economy is stumbling as higher fuel prices weigh on consumer spending, Second Finance Minister Tan Sri Nor Mohamed Yakcop said August. 4. A 41 per cent increase in gasoline prices to trim fuel subsidies in June pushed inflation to a 26-year high, leaving Malaysians with less to spend.

Mah Sing is exploring India, China and Indonesia, Leong said. Overseas sales will account for 20 to 30 per cent of the group’s total in the next five years, he said. The company is seeking revenue growth of 20 per cent each year, he said.

“If Malaysia is on a weaker growth path, then the other Asian countries could beef up” its earnings, said Ong Chee Ting, an analyst at Aseambankers Malaysia Bhd. “It’s a good diversification strategy, it could possibly bring it close to its RM1.5 billion target.”

‘Overheating’ Opportunity

Vietnam is Mah Sing’s priority as the “overheating” in its economy provides chances to buy land more cheaply, Leong said.

“We won’t simply venture into a country without a good reason,” the Mah Sing CEO said.

The company is examining a joint-venture to build homes on 300 to 500 acres of land in Ho Chi Minh City, he said. It may later build offices at a separate location there.

Vietnam’s “long-term growth story looks quite decent, looking at the very young population and the housing requirements,” said Aseambankers’ Ong. “The overheating could slow the pace of development for the next two years or so.”

Malaysian Plan

Ong recommends buying Mah Sing, estimating its shares will rise to RM1.74 from RM1.44. The stock has slid 23 per cent since he started coverage with a “buy” rating, according to data compiled by Bloomberg. He has a “hold” recommendation on SP Setia Bhd, Malaysia’s largest property group, expecting its shares will decline to RM3 from RM3.14.

Mah Sing is rated a “buy” by nine of thirteen analysts who cover the stock and SP Setia has a similar recommendation from 10 of 24 analysts, according to Bloomberg data.

At home, Mah Sing plans to buy land that will generate gross development value of at least RM600 million each year, Leong said.

He wants to bolster Mah Sing’s market value within five years to RM5 billion, which is more than SP Setia’s current worth of RM3.2 billion.

“If you don’t have a dream or vision, there’s no direction for my group to move forward,” he said. “It’s a management objective.” - Bloomberg
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Old August 14th, 2008, 10:11 AM   #92
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Scomi Close To Clinching Mumbai Monorail Project
August 14, 2008 15:16 PM
By P.Vijian

NEW DELHI, Aug 14 (Bernama) -- A consortium, comprising Scomi Engineering Bhd and its co-partner Larsen & Toubro Ltd (L&T), is believed to be the successful bidder for the RM1.01 billion first monorail project in Mumbai.

The other bidder was Reliance Infrastructure, which had partnered with Japanese firm Hitachi, to construct the 20-km elevated monorail in India's financial capital.

The Times of India reported that Mumbai Metropolitan Region Development Authority (MMRDA) commissioner, Ratnakar Gaikwad, said the main deciding factor was the time frame to complete the project.

"The bid submitted by L&T and Scomi was more sound and promising than the one submitted by Anil's Reliance Infrastructure and Hitachi of Japan," Gaikwad was quoting as saying by the Times.

According to Gaikwad, L&T and Scomi promised to complete the project within 24 months while Reliance Infrastructure, headed by its India's business tycoon Anil Ambani, needed over 50 months for the first phase of the mega project.

In Mumbai, sources familiar with the project told Bernama that Scomi and L&T were in the final process of fine-tuning the pricing details and the final announcement could be made any time soon.

Initially, seven companies had submitted their bids for the project, which would be implemented on a built, operate and transfer basis and expected to come on stream within two years.

Finally, MMRDA shortlisted the bidders to two and Reliance Infrastructure and Scomi and L&T submitted their financial and technical bids for India's first monorail project on July 16.

The metro lines would supplement existing railways and help ease the traffic-choked city, with nearly 11 million people who travel daily on public transport.

-- BERNAMA
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Old August 15th, 2008, 03:47 AM   #93
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Labuan IBFC to woo Mideast funds
By Rupinder Singh Published: 2008/08/15
BusinessTimes



LABUAN IBFC Inc Sdn Bhd, the marketing arm of Labuan Offshore Financial Services Authority (Lofsa), plans to open an office in Dubai or Abu Dhabi in the next six to eight months to draw funds from the Middle East.

Labuan IBFC Inc chief executive officer Martin Crawford said it may share the marketing office with the Malaysian Industrial Development Authority (Mida) or other Malaysian agencies there.

It may also open one in Hong Kong to tap the China market.

The setting up of a dedicated marketing agency is one of the key initiatives by Lofsa to position Labuan as the premier international business and financial centre in Asia.

Labuan IBFC Inc is rolling out plans to unlock the island's potential by repositioning itself as a specialist with five key areas.

These are international holding companies; private and public investment funds; captive insurance; Islamic Finance and wealth management products such as expatriate pensions.

"We have in the pipeline, a whole range of marketing activities to reach the investors.

"These include advertising, sponsorship, running road shows in selected regions, and a large commitment to developing an online resource centre through a new website," said Crawford.

"In terms of geographic focus, we are keen to tap into the newer emerging markets for offshore investment flows such as India, China and the Gulf Corporation Council (GCC) region," he said at a media briefing to introduce Labuan IBFC Inc in Kuala Lumpur yesterday.

"For instance, we will be running a roadshow in India next week in Hyderabad and Mumbai to meet a select group of investors and intermediaries," he added.

India has been identified as a potential market as Indian investors have been active abroad, whether for trading, mergers and acquisitions, or in support of their burgeoning IT services industry.

"To date, many of these offshore investments have been routed through Mauritius or Singapore. Labuan has many advantages over these traditional jurisdictions but many Indian businessmen are not aware of this," he said.

Future roadshows include Hong Kong, China, Australia, Indonesia and the Middle East this year followed by the Philippines early next year.

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Old August 15th, 2008, 01:39 PM   #94
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Scomi tipped to have won Mumbai monorail project
by Yantoultra Ngui Yichen, 15 Aug 2008 11:10 AM
THEEDGEDAILY

KUALA LUMPUR: Scomi Engineering Bhd, with its consortium partner Larsen & Toubro Ltd (L&T), is tipped to have landed the RM1 billion-monorail project in Mumbai, beating Anil Ambani’s Reliance Energy Ltd with Japanese Hitachi Ltd due to project duration and safety factors.

The Times of India newspaper yesterday quoted Mumbai Metropolitan Region Development Authority (MMRDA) commissioner Ratnakar Gaikwad as saying that one of the things that went against Reliance-Hitachi was the time factor.

According to Gaikwad, Scomi-L&T said it would be able to complete the first phase of the 20-km elevated monorail within 24 months while Reliance-Hitachi required 50 months to put the monorail on track.

“There were several other factors also and we have already informed Reliance in writing about the decision on Monday,” Gaikwad was quoted as saying in the paper without elaborating the other factors.

According to sources, among the other factors that led to Reliance-Hitachi exiting the race was the concern over safety issues.

The opening of the Palm Jumeirah monorail in Dubai, in which Marubeni Corp was the general contractor with Hitachi as vehicle and systems contractor, was delayed four months to undergo two months of safety tests following its completion in December.

The Arabian Business had on July 22, 2008 quoted Nakheel Corp’s project director Mitsukazu Nakata as saying that Dubai’s Roads & Transport Authority (RTA) requested for the safety tests to make sure the monorail was working well. The man-made island developer was also quoted as saying that the final cost of the project had also increased 5% to US$400 million (RM1.3 billion) as part of the process to secure three years’ spare parts for the train.

It was reported earlier that L&T-Scomi was among seven companies that had submitted bids for the Mumbai monorail project, which was expected to begin construction in May.

The other bidders were said to be Bombardier Transportation, a consortium of Kalpataru Power Transmission-JMC-Intimin Transportation Ltd, Videocon Industries with Aerospace of the United States and local outfit Gammon India Ltd with MET Rail as well as the other Anbani’s brother Mukesh’s Reliance Engineering Associated with Siemens AG.

On July 16, 2008, L&T-Scomi and Reliance-Hitachi, which were the final two short-listed for the mega project, submitted their financial and technical bids for India’s first monorail project.

The Mumbai monorail project comprises four corridors stretching a total of 70km spanning across the city and suburbs. The cost of building a one-km stretch is estimated at about RM85 million.

Analysts had previously said that if Scomi were successful in its bid for the Mumbai job, it would go a long way to positioning itself as a global player in building monorail systems.

Shares of Scomi Engineering, trading at a price-to-earnings ratio (PER) of 6.5 times, closed eight sen or 8.6% higher at RM1.01 yesterday with a total of 338,300 shares changing hands. The counter reached its 52-week high of RM2.60 on Jan 11, 2008 while its low was 66 sen on July 4, 2008.
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Old August 18th, 2008, 10:23 AM   #95
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LCL Corp gets RM61m Dubai job

Email us your feedback at fd@bizedge.com


KUALA LUMPUR: LCL Corporation Bhd has won a tender for a subcontracting job worth RM61 million for the downtown Jebel Ali project in Dubai.

LCL said yesterday its subsidiary LCL Interior Contracting LLC had received a letter of award to supply all necessary labour, materials, equipment, supervision, management and other related matters from Dubai’s Taisei Corp, for the installation and completion of interior fit-out works for the project.

“The project comprises interior fit-out works for 28 storeys of the twin office tower-cum-podium located in downtown Jebel Ali, Dubai, which shall commence immediately and is expected to be completed by August 2009,” LCL said.
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Old August 23rd, 2008, 04:13 AM   #96
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[size]Tanjong to build holiday homes in Germany[/size]
Published: 2008/08/23
BusinessTimes

TANJONG plc has signed an agreement yesterday to develop about 2,000 holiday homes at its Tropical Islands resort in Germany.

Under the agreement, Eske Group A/S will finance development of the vacation home project while Novasol A/S will have the exclusive marketing rights.

Tropical Islands is a holiday resort, located within the world's largest freestanding dome in Germany, developed by Tropical Island Holding GmbH Group, a subsidiary of Tanjong.

The development of 500ha of land will be carried out over three phases.

The first stage comprises construction of 375 units over 30ha which is expected to be ready for occupation in 2010.

Tanjong is not expected to assume nor commit to any financial obligation in respect of the construction and development of the vacation homes.

Tanjong's chairman Datuk Robert Cheim said the involvement of the Eske Group and Novasol will surely contribute to the successful development of Tropical Islands.

"The availability of resort accommodation facilities will help Tropical Islands attract a greater number of visitors from the fast-growing European vacation market, and should expand its current public profile which compromises largely day-trippers. This will place the resort in a much better position to generate greater revenue in the longer term," he said.
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Old August 23rd, 2008, 06:49 PM   #97
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A touch of Malaysia in Koh Samui
Saturday August 23, 2008
By IZATUN SHARI
TheStar

THOSE who fancy a quiet island holiday surrounded by white sandy beaches, coral reefs and crystal blue waters with a touch of a Malaysian hotel chain service can visit Impiana Samui Resort & Spa in Koh Samui, Thailand.

They can enjoy the scenery of the beautiful Chaweng Noi beachfront as well as the comfort of the newly-revamped superior and deluxe rooms, following a refurbishment exercise at the hotel that was carried over six months and completed in June.

Koh Samui is an island off the east coast of the Kra Isthmus in Thailand, close to the mainland Surat Thani town.

It is Thailand’s third largest island with an area of 228.7 sq km and a population of more than 47,000.





Attractive: A newly renovated deluxe room at the resort.



The resort, which is a managed by Malaysian-owned management company Impiana Hotel Resort Management Sdn Bhd (IHRM), has been operating for the last seven years.

All the 98 rooms reflect the same contemporary and attractive modern interpretation of Thai architectural style.

The timeless beauty of Thailand unfolds in every guest room, tastefully furnished and equipped with air-conditioning, satellite television, LCD television set and DVD player in deluxe rooms, bathtubs for deluxe and suites, mini-bar, IDD calls, hair dryer and private safe. Wireless Internet connection is offered in the rooms and throughout the resort.

The published rate for a superior room is 5,200 baht (RM520) net per room night while that for a deluxe room is 6,500 baht (RM650) net per room night.

“Tough times never last; tough people do,” said resort manager Noorazzudin Omar at the launch of the newly-revamped superior and deluxe rooms at the hotel recently.

Koh Samui’s Nai Amphur (district officer) Khun Adisorn Kumnerdsiri launched the event.

IHRM group general manager Mohamad Halim Merican was also present, along with the regional director of sales and marketing (Malaysia and Thailand) Satra Satrapai.

The resort also held an awareness campaign among taxi drivers and gave goodie bags to more than 200 taxi drivers on the island as a token of appreciation for their support.

IHRM, a wholly owned subsidiary of KAB Group, provides professional management services for hotels, resorts and recreational facilities, including spas.

With 15 years of experience in this industry, IHRM has grown locally and regionally.

Since its first resort in Cherating opened in 1994, IHRM has opened three other resorts in Kuala Lumpur, Phuket and Koh Samui.

It also manages its own brand of spa, known as Swasana Spa, which is operating in Impiana Samui Resort, Impiana Phuket Cabana Resort and Impiana KLCC.

Firefly offers budget flights from Penang to Koh Samui.
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Old August 24th, 2008, 08:40 PM   #98
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Mega cities of opportunity
By Zuraimi Abdullah Published: 2008/08/25
BusinessTimes



Malaysian contractors like Eversendai Corp, MMC, Gamuda and WCT Engineering that have vast West Asia experience could bid for the RM200 billion Al Noor Cities project

THE massive US$200 billion (RM668 billion) Al Noor Cities project, comprising a city each in Yemen and Djibouti, is taking shape and presents various investment opportunities for experienced contractors from Malaysia.

Al Noor Holdings Investment chief executive officer Mohammed Ahmed Al Ahmed said over the next six years, the project proposes an investment of US$31 billion (RM103.54 billion) in Yemen and US$20 billion (RM66.80 billion) in Djibouti, some by Al Noor, some by private investors.

In 15 years' time, according to plan, US$200 billion would have been invested in the project - US$105 billion (RM350.70 billion) in Yemen, US$70 billion (RM233.80 billion) in Djibouti and US$25 billion (RM83.5 billion) on the world's longest suspension bridge linking the two, he added.

Mohammed Ahmed and project executives and advisers expect "great appetite" for the build-own-operate contracts that will make up the bulk of developments within the Al Noor masterplan.

The project, the vision of Saudi-Yemeni construction magnate Sheikh Tarek Mohammed bin Laden, has attracted interest from a host of international companies. US giants Honeywell, Avaya and AIG Investments are already among its partners.

"It is a new city and it is happening," Mohammed Ahmed said at the launch of Al Noor Djibouti at Djibouti Kempinski Palace recently.

Malaysian contractors like Eversendai Corp, MMC, Gamuda and WCT Engineering that have vast experience in West Asia could stand as possible front-runners to bid for lucrative contracts in the project.

Mega projects undertaken by Malaysian companies in West Asian countries include the New Doha International Airport in Qatar worth US$543 million (RM1.81 billion), mixed development in the Al-Reem Island Project (Zone C) in Abu Dhabi (US$378 million; RM1.26 billion), Abu Dhabi City Centre (US$429 million; RM1.43 billion), Jizan Economic City in Saudi Arabia (US$2.9 billion; RM9.69 billion) and the Shohiba Independent Water & Power Project (US$2.6 billion; RM8.68 billion).

"Africa is the centre of the world with a population of almost one billion, while the Middle East North African region has a population of 400 million. We have all the ingredients to make this project a reality," Mohammed Ahmed said.

Al Noor Cities' master plan calls for one 1,500 sq km city in the southwestern tip of Yemen and a similar 1,000 sq km city in Djibouti. The cities will be linked by a 28.5km road and rail bridges.

The bridge will open up trade routes between Yemen, the Gulf countries and Africa. It will have a six-lane highway and four light rail lines, water and oil pipelines.

Al Noor Cities will also feature free trade zones, research and development facilities, technology parks and financial districts.

Agreements are in place with governments of both countries to start financing discussions with institutional and private investors, corporates and governments.

"The idea is to finance the project in progressive phases and implement it step by step," said Ross Connelly, managing director of Akkadian Private Ventures, a Washington-based project financing firm hired as an adviser.

There will be clear delegation of authority between the governments and administrations of the two cities, said Reem Alaloui, vice president of US-based AECOM International Development which is drawing up the free zone frameworks.

Dean Kershaw of management services firm L3, the project manager, said talks on the framework agreements will begin "within weeks" and should be completed before the end of the year.
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Old August 26th, 2008, 09:24 AM   #99
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Platinum Plaza, Ho Chi Minh City by WCT Berhad


The Platinum Plaza Development Project

Strategic Location

The Project is located at Zone 11A, Binh Hung Commune, Binh Chanh District, New Southern Urban Area of HCMC. It is flanked by the Provincial Road No. 50 which runs in a north-south direction across HCMC and fronts the busy 10-lane Nguyen Van Linh Parkway (also known as the East-West Highway), which leads to the nearby modern township of Phu My Hung and District 1, the central business district of HCMC. Further, it is conveniently connected to the Chinatown area of District 5 located about 4 km away.

The Project site is easily accessible via the existing network of roads and highways. The Nguyen Van Linh Parkway will in the near future connect the Project site to the new Long Thanh International Airport located 40 km east of the site.

Westwards, Nguyen Van Linh Parkway intersects the National Highway No. 1A which provides a convenient connection to the Mekong Delta in the south and the existing Tan Son Nhat International Airport 30 km to the north.

The City has allocated two (2) metro stations to serve the Project and their construction in the near future will further enhance the accessibility and connectivity of the Project site.

Due to its strategic location, the Project is expected to act as the catalyst for the rapid growth planned for the southern part of HCMC which has been identified to be the new administrative, cultural and commercial hub of the City.

Components of the Project

The Project is an integrated development providing retail and wholesome family entertainment amenities and is proposed to be carried out in 3 phases over a period of 4 years after the completion of land compensation and clearance. The Project will comprise a basement car park and a 3-storey elevated car park, a retail and entertainment centre, a multi-purpose hall, a 4-star hotel, a block of SOHO (small office home office) and two (2) blocks of office towers of 22 storeys each. The total gross floor area is approximately 671,960 sq. metres (approximately 7.2 million sq. ft.).
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Old August 26th, 2008, 09:27 AM   #100
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Bahrain City Centre by WCT Berhad







Contract Details
Main Contractor : Cebarco-WCT W.L.L.*
Contract Value : RM1.28 billion
Contract Period : 28 months
Client : Majid Al-Futtaim Investments, UAE

*WCT Engineering Berhad has 50% equity in Cebarco-WCT W.L.L.

Job Scope
Approximately 250,000 sq. m retail shopping floor
Approximately 150,000 sq. m multiple car park building
Hotel 1 & 2 shells
A theme park
A water park
20 Cineplexes
Interior Fittings & Finishes
Mechanical, Electrical & Plumbing
Exterior Landscaping, Drainage, etc.
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