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Old June 12th, 2008, 08:57 AM   #21
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Al Reem Island Development Project (Zone C, Phase 1, Plot 1) in Abu Dhabi, UAE

© Copyright 2008 IJM Corporation Berhad.
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.
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Old June 12th, 2008, 09:03 AM   #22
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IJM to build 35-story complex in Dubai
[22 May 2006], A Business Correspondent

IJM Construction (Middle East) LLC has received a letter of award from Fortune Investment Group LLC, Dubai, UAE, for a contract to construct a 34-storey office complex known as T1 Tower at Jumeirah Lake in Dubai, with a total gross floor area of approximately 50,000 sq. mt.
The contract sum is Dhs 129,000,000 (about RM126 million) and the construction period is 24 months. IJMCME
is a 49 per cent associate of the company.
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Old June 12th, 2008, 09:06 AM   #23
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Originally Posted by nazrey View Post
IJM to build 35-story complex in Dubai
[22 May 2006], A Business Correspondent

IJM Construction (Middle East) LLC has received a letter of award from Fortune Investment Group LLC, Dubai, UAE, for a contract to construct a 34-storey office complex known as T1 Tower at Jumeirah Lake in Dubai, with a total gross floor area of approximately 50,000 sq. mt.
The contract sum is Dhs 129,000,000 (about RM126 million) and the construction period is 24 months. IJMCME
is a 49 per cent associate of the company.
T1 Tower, an Office Complex at Jumeirah Lake, Dubai, UAE

© Copyright 2008 IJM Corporation Berhad. All rights reserved.
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Old June 12th, 2008, 09:08 AM   #24
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Scomi's answer to Viet traffic woes
Published: 2008/05/31, BusinessTimes

Hanoi’s roads are getting more congested as vehicle ownership rises in tandem with the increasing affluence of the Vietnamese. Scomi Engineering tells Marina Emmanuel how a monorail system can help ease the city’s transport woes.
AS CITIES around the world look for ways to check growing traffic congestion, the monorail is emerging as an attractive option.

One such city is Hanoi in Vietnam, which is celebrating its 1,000th year next year and is home to five million people.

Against a backdrop of heritage-rich structures, quaint lakes and old trees, traffic jams have been plaguing the city where motorbikes and bicycles are found at virtually every corner.

Roads and streets are narrow and cannot cater to the rising number of vehicles that are mushrooming in tandem with the rising affluence of the country.

The Hanoi authorities have set about finding a quick and painless solution.

"The Vietnamese Government has outlined a master plan for the city and identified that there are potential corridors for monorails," Scomi Engineering Bhd president Hilmy Zaini Zainal said.

Like most Asian countries, Vietnam appears to have a vacuum in its public transport infrastructure between the public bus service and its railway systems.

Interestingly, Hanoi used to boast a tram system, but Hilmy said this was discontinued to let cars, motorcyles and trucks have better use of the roads.

In April, Scomi Engineering inked a collaborative agreement with the Hanoi Metropolitan Rail Management Board to form a strategic partnership. They will prepare a feasibility study on the implementation of a monorail system in Hanoi.

The tie-up has been granted an exclusive right by Hanoi's People's Committee to prepare a comprehensive proposal on a monorail network that would also be connected with other urban transportation systems. This would include eight lines of urban rail network and urban and inter-urban bus networks to allow for transfers with the rail system.

As for the monorail system, a 52km circle line around Hanoi was proposed. Scomi Engineering is due to complete its proposal around October this year.

Among others, the areas to be covered by Scomi Engineering as part of its feasibility study will include ridership, system and alignment concepts, soil investigation, underground utilities mapping and financial modelling.

"The execution of this collaboration agreement, signifies acceptance and confidence in Scomi's monorail technology," said Scomi Transportation Systems Sdn Bhd director Datuk Siddiq Firdause Mohd Ali.

Scomi Transportation Systems is an authorised representative of Scomi Engineering. Scomi has been operating through a representative office in Vietnam since 2007.

"From our representative office, we have introduced the various businesses of the group such as oilfield services, production enhancement and energy logistics to Vietnam.

In November last year, Scomi unveiled its new Sutra monorail. Sutra is short for Scomi Urban Transit Rail Application.

Since then, it has formed alliances to bid for a number of projects in Malaysia and abroad.

In India, Scomi and its consortium partner Larsen & Toubro Ltd are among three groups shortlisted for the multi-billion-dollar Mumbai monorail project, which encompasses more than 20km of track.

Scomi is also eyeing countries like Saudi Arabia, Thailand, Bangladesh, Pakistan, Syria, Egypt and South Korea.

At home, it is part of a group that includes Malaysian Resources Corp Bhd, bidding for a monorail project on Penang island.

"Today, we are seeing a growing interest in monorail as an urban transit solution, especially in cities where transit corridors are limited in space and dense in nature," said Siddiq.

"It is an environmentally-friendly urban transport solution that is a welcome addition to any city, to alleviate traffic congestion faced by many cities such as Hanoi and Penang's George Town, as a consequence of rapid urbanisation."

As a solution for congestion, Hilmy points to the monorail's benefits.

"Its smaller 'footprint', he says, "means less construction material and land and time to construct, which translates to lower cost of construction which can be carried out with minimum interruption to the city's road traffic."

"The monorail being on an elevated guide-way structure, will enhance the appearance of heritage cities and at the same time, accord the commuters with a good view of the city from vantage angles, apart from being aesthetically attractive."

Hilmy says Malaysian cities and towns like Putrajaya, Petaling Jaya, Shah Alam, Klang and Johor Baru can also be a perfect match for a monorail system.

In the case of Hanoi and George Town where historical buildings abound, Hilmy said that the manoeuvrability of a monorail system helps to avoid building relocation or demolition.

"This," he said, "is because the monorails have the flexibility to negotiate curves of 50m radius like the KL Monorail, tight 90-degree turns like the Las Vegas Monorail and wrap a luxury hotel around the track like at the Grand Californian Courtyard hotel near Disneyland."
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Old June 12th, 2008, 09:09 AM   #25
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Scomi targets monorail market in Middle East
Thursday April 17, 2008

Datuk Siddiq Firdause Mohd Ali (seated left) and Ha Huy Quang signing the
agreement witnessed by (from left) Hilmi Zaini (partially hidden), Scomi Group
chief representative Datuk Ainuddin Noordin, Malaysian ambassador to
Vietnam Datuk Lim Kim Eng and Vietnamese officials

HANOI: Scomi Group Bhd aims to penetrate the Middle East market for monorail systems within six months.

Scomi Engineering Bhd president Hilmi Zaini said the group was currently studying proposals from Saudi Arabia, Qatar and Bahrain to set up monorail systems for the growing cities in these countries.

Scomi Engineering is a unit of Scomi Group involved in constructing monorail systems.

“We expect one of these countries to be our base for expansion in the Middle East, just like India and Vietnam are our bases for expansion in South Asia and South-East Asia respectively,” Hilmi told Malaysian journalists during a briefing on the group’s expansion plans yesterday.

“We also plan to move into the African market for monorail systems within two years,” he said.

Scomi Engineering is one of the three companies shortlisted for the RM5bil monorail project in Mumbai, India.

The 70km monorail project, stretching over four corridors in Mumbai’s city and suburbs, would be implemented on a build, operate and transfer basis for at least 30 years.

“Scomi spent about RM10mil to develop the Scomi Urban Transit Rail Application launched last year using Malaysian technology,” Hilmi said.

“The competitive edge of our monorail system is that its technology can be upgraded continuously without additional civil and structural investment.

“Its composite technology makes it possible to construct a lighter monorail system which brings down the life cycle maintenance cost.”

Scomi Engineering yesterday signed a collaboration agreement with the Hanoi Metropolitan Rail Management Board (HRB) to prepare a feasibility study on the implementation of a monorail system in Hanoi.

The agreement was signed by HRB director-general Ha Huy Quang and Scomi Transportation Systems Sdn Bhd (STSSB) director Datuk Siddiq Firdause Mohd Ali.

STSSB is a subsidiary of Scomi Engineering.

The Hanoi city government commissioned HRB and Scomi Engineering to prepare a comprehensive proposal on a monorail network to meet the urban transport requirements of Hanoi, and to integrate other urban transportation systems being implemented in the city.

“The proposal will be submitted in six months to the People’s Committee for approval, upon which Scomi Engineering will proceed to implement it,” Hilmi said.
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Old June 12th, 2008, 09:12 AM   #26
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Scomi confident of bagging India monorail job
Thursday June 12, 2008

KUALA LUMPUR: Scomi Engineering Bhd, which has been shortlisted for the Mumbai monorail project, is optimistic of winning the bid.

President Hilmy Zaini said: “We are putting in the right resources including people to beef up the team for the project.”

“We are also proposing to build a new factory while enhancing engineering and development initiatives. We are positive about winning the bid,” he told a media briefing yesterday.

Scomi and its partner, India-based Larsen & Toubro Ltd, were shortlisted in March for the monorail project, reportedly worth RM1.5bil to RM2bil.

The other shortlisted bidders are Reliance Energy Hitachi and Bombardier Transportation India.

The outcome of the bid is expected to be known in mid-August.

“Based on the project that we are working on now, we can expect an award soon,” said Hilmy.

Scomi senior vice-president (special projects) Kanesan Velupillai said the company would invest in a plant in India to manufacture buses and eventually use it for the assembly of the monorail.

“This is an important decision. We will make an announcement when we finalise the collaboration agreement and partnership on the bus manufacturing project,” he said.

He said Scomi was also concurrently bidding for monorail projects in Delhi, Bangalore, Patna and Pune.

Asked the total value of these contracts, Kanesan said it was more important to look at the number of the cities involved.

“India alone has 25 new cities. There are 30 cities with more than a million people each and thus you can imagine the market size,” he said.

Besides India, Scomi was also looking at monorail projects in a few cities in the Middle East, namely Dubai, Madinah, Jeddah and Mecca, he said.

“These are in very early stages of development and need a proper study,” Hilmy said.

He also said Scomi was in talks with the authorities on the expansion of the current monorail system in Kuala Lumpur.

“KL Monorail is heavily used. There are times where they are actually jammed. As when the decision will be made, it is up to SPNB (Syarikat Prasarana Negara Bhd) and the government,” he said.

Scomi Engineering subsidiary, Scomi Rail, is the top three monorail manufacturers in the world while SPNB is the operator of the KL Monorail.

Hilmy said the company was capable of completing a project that included supplying the coaches, cars and the infrastructure construction in 24 to 36 months. – Bernama

Malaysia Public Listed Company Oil & Gas Support Services - Scomi ...
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Old June 12th, 2008, 09:55 AM   #27
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Scomi Engineering plans manufacturing facility in India
by Lim Shie-Lynn
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KUALA LUMPUR: Scomi Engineering Bhd plans to set up a monorail and bus manufacturing and assembly facility in India in collaboration with an Indian partner in the next two years, its president Hilmy Zaini Zainal said.

The plant, involving an investment of some RM50 million over a five-year period, is likely to be located in Maharashtra state and forms part of Scomi Engineering’s strategy to expand its presence in India.

The company had been shortlisted for a monorail project in Mumbai with its partner Larsen & Toubro Ltd, Hilmy said at a media briefing here yesterday.

“We are very optimistic about winning the Indian project,” said Hilmy, adding that the bidding period would end on July 15, with the announcement of the successful bidder slated for August.

Hilmy declined to reveal the investment cost of the project, which has been reported as being worth some RM5 billion. Scomi Engineering and its partner were prequalified for the project along with Reliance Energy Hitachi and Bombardier Transportation India.

It was also prequalified for another tender in Pune, India, said Scomi Group Bhd’s senior vice-president Kanesan Velupillai. Scomi Engineering is 70%-owned by Scomi Group.

“Concurrently, we are also bidding for projects in New Delhi, Bangalore and Patna. We are also in the same tender as the Mumbai bid for another city in Pune,” Kanesan said.

The Pune monorail project spans a distance of 20km to 25km in the Pune Metropolitan Region, and the line would be built on a turnkey basis. The project would be implemented on a build, operate and transfer basis for a period of 30 years.

The rail manufacturer also said it was studying proposals to build monorail lines in Saudi Arabia, Qatar and Bahrain.

Scomi Engineering has an order book of RM320 million, comprising RM150 million from its oil and gas arm and RM170 million from its monorail businesses.

For its first quarter ended March 31, 2008, Scomi Engineering’s net profit rose 14.6% year-on-year to RM8.15 million on the back of a 23.7% jump in revenue to RM96.7 million.

Scomi Engineering’s share price closed unchanged at 85 sen yesterday with some 50,000 shares traded.

so who is richer? anak Paklah or anak Mahathir???
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Old June 12th, 2008, 09:56 AM   #28
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Originally Posted by rizalhakim View Post
Bina Puri gets Bangkok condo job
Published: 2008/06/12

image hosted on flickr

CONSTRUCTION firm Bina Puri Holdings Bhd has won an RM81 million contract to build two blocks of condominiums in Bangkok, Thailand.

The job was awarded to its unit Bina Puri (Thailand) Ltd-Dimara (Thailand) Ltd joint venture by S&S Sukhumvit Co Ltd, a subsidiary of TCC Capital Land Ltd.

Works are due to start in the third quarter of 2008 and completed by December 2010.

Bina Puri gets letter of award

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PETALING JAYA: Bina Puri Holdings Bhd has received a letter of award from S&S Sukhumvit Co Ltd for a residential condominium development project in Bangkok with a contract value of RM81 million. Bina Puri said yesterday that the project would be undertaken by its subsidiary Bina Puri (Thailand) Ltd, and that they were scheduled for construction in the third quarter, for delivery by December 2010.

The project comprises two blocks of condominiums of 18 and 22 storeys each, with basement carparks and ancillary facilities. Sukhumvit signed the contract to appoint Bina Puri as the main contractor of the project on April 25. Sukhumvit Co Ltd is a subsidiary of TCC Capital Land Ltd, a joint venture between TCC Land Company Ltd and CapitaLand Ltd.
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Old June 12th, 2008, 11:54 AM   #29
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Scomi finalising Bologna rail plan
By Zuraimi Abdullah Published: 2008/06/12

A proposal to link Bologna's central station to its international airport will be submitted within the next few months, says Scomi Engineering head of rail division

SCOMI Group Bhd's logistics unit Scomi Engineering Bhd is finalising a proposal to build a monorail system in the city of Bologna as it marks Italy as one of its four primary markets.

Scomi Engineering and an Italian partner are to propose a line linking Bologna's central station to its international airport, its top executives said.

They also said that the winning bid to develop a RM5 billion monorail system in Mumbai, India, would be known after July 15 when tenders are closed.

Scomi Engineering president Hilmy Zaini said there were seven pre-qualified bids before the number was trimmed to three.

Scomi and its Indian partner are now competing with Bombardier and a partnership between Hitachi and a local firm.

Hilmy spoke at a briefing on the company's rail operations in Kuala Lumpur yesterday.

Senior vice president V. Kanesan said the company may spend more than RM50 million to set up a monorail and bus manufacturing factory possibly in Mumbai. The facility should be completed by the end of the year, he added.

Kanesan said Scomi Engineering was bidding or invited to submit monorail proposals for 20 cities in the Asia-Pacific region.

Elaborating on the Italian job, Scomi Engineering head of rail division Mike Dickinson said a proposal would be submitted within the next few months.

There should be three to four stations between the line covering several kilometres, with Scomi Engineering providing equipment and electrical and mechanical support, Dickinson added.

Italy joins India, Vietnam and Saudi Arabia as Scomi Engineering's top targeted markets to further grow its monorail business.

Nigeria, Thailand, Indonesia and Bahrain are in the company's list of secondary target markets.

Dickinson said that the tenders were reopened by the Bologna authority after postponing it in March when all five consortiums invited to submit their bid did not respond.
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Old June 12th, 2008, 12:03 PM   #30
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WCT gets approval for project in Vietnam

PETALING JAYA: WCT Engineering Bhd has obtained approval for its first property development project in Vietnam.

An artist's impression of the Platinum Plaza.

The company was awarded an investment certificate yesterday by the People’s Committee of Ho Chi Minh City to undertake the Platinum Plaza Development Project, located on 9ha in the Binh Chanh District.

Concurrent with the issuance and award of the investment certificate, the People’s Committee of Ho Chi Minh City also approved the establishment of a limited liability company, BSC-WCT Co Ltd, in which WCT will own a 67% stake.

The remaining 33% equity will be held by Vietnamese private limited company, Minh Thien Construction and Trading Co Ltd (MTC). BSC-WCT would have an initial chartered capital of RM39.6mil.

The project would be an integrated development providing retail and wholesome family entertainment amenities and would be carried out in three phases over four years after the completion of land compensation and clearance.

In a filing with Bursa Malaysia yesterday, WCT said it would fund its portion of the chartered capital and shareholders’ advances in BSC-WCT through internally generated funds or bank borrowing.

Due to its strategic location, the project is expected to act as the catalyst for the rapid growth planned for the southern part of Ho Chi Minh City, which has been identified as the new administrative, cultural and commercial hub of the city.

An analyst contacted by StarBiz viewed the company’s move beyond its comfort zone into Vietnam as a positive step that was expected to contribute to the group’s future earnings.

“The (commercial) property market in Vietnam is buoyant because of the high occupancy rates and escalating rental rates,” he said, adding that WCT’s initial project in Vietnam was a precursor of more things to come.

The analyst said with Vietnam being more culturally similar to Malaysia, he was confident WCT would be able to replicate its domestic success there.

Originally Posted by saigonily View Post

An artist's impression of the Platinum Plaza.

Friday January 11, 2008

WCT eyes more Vietnam projects


PETALING JAYA: WCT Engineering Bhd is planning more projects in Vietnam following the approval obtained for its first commercial landmark in the suburbs of Ho Chi Minh City.

Executive director Loh Siew Choh said it would still be in property development.

“We are applying for another investment certificate to develop another piece of land in Ho Chi Minh City,'' he told StarBiz in a telephone interview from Vietnam late on Wednesday.

With a population of 84 million, Vietnam offers huge potential to companies with good track record. Ho Chi Minh City alone has a population of 10 million.

“We hope this will be a new market for us,'' Loh said, adding that Ho Chi Minh City and its suburbs were the target for future projects.

Other positive factors include rising per capita and disposable incomes as well as good take-up rates for commercial space.

“Demand for grade A office space in Ho Chi Minh City is very high,'' Loh said. “Rentals in District 1 of Ho Chi Minh City are going for US$40 to US$50 per sq m which is much higher than that in Kuala Lumpur.''

The company was awarded an investment certificate on Wednesday by the People's Committee Ho Chi Minh City to undertake the Platinum Plaza development project, located on 9ha in the Binh Chanh district.

The project will be undertaken by a joint-venture company, BSC-WCT Co Ltd, in which WCT will have a 67% stake. The land lease or duration of the project is 50 years.

“There is a big shortage of retail space and a need for a proper shopping mall,'' Loh said.

The Platinum Plaza represents the largest commercial development to date and is expected to be built in four years. Construction is expected to start by year's end.

The project includes a shopping mall, a four-star hotel, two office blocks of 22 storeys each and small office home office units. The total gross floor area is 671,960 sq m.

“We have to show our seriousness and establish good relationships in the country,'' Loh said.

Delivery and track record are factors closely watched by the authorities there. Within the WCT organisation, there are people who have years of experience working in Vietnam.

The group aims to build its good name in Vietnam like the way it had established itself in the Middle East.

“It (the business in the Middle East) was not created overnight,'' Loh had told StarBiz in an earlier interview. “It was a result of hard work by the business development team in the last six years, making WCT Engineering well known as well as delivering results.''

The group has its regional office in Abu Dhabi and offices in Dubai, Doha, Oman and Bahrain. Two of its biggest projects are the RM4.6bil Meydan Racecourse in Dubai and the RM1.3bil Abu Dhabi Formula One Circuit.

WCT Engineering is in 50% partnership for these projects and also has a number of jobs in Bahrain and Qatar.

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Old June 13th, 2008, 07:23 AM   #31
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Scomi: Vietnam set to be major monorail market
From Marina Emmanuel Published: 2008/04/17

HANOI: Vietnam is set to serve as one of three overseas base markets for the Scomi Group's monorail business this year.

The company, via its subsidiary Scomi Engineering Bhd, has already made inroads in India where it has been pre-qualified for a monorail project in Mumbai and Pune and is now setting its sights on Hanoi, Ho Chi Minh City and Danang in Vietnam over the next four to five years.

"We are also looking at the Middle East as another primary market in countries such as Saudi Arabia, Qatar and Bahrain," Scomi Engineering Bhd president Hilmy Zaini told a media briefing here on Tuesday.

Hilmy said the company has submitted proposals for monorail systems in several cities such as Riyadh and Medina.

Besides the three primary markets which have been targeted, Hilmy said secondary markets could emerge in Africa.

"The monorail systems - which are likely to be adopted by these primary markets - will tap into Scomi's continous technology advancements that will include the second generation new monorail called Sutra (Scomi Urban Transit Rail Application)," he said.

Sutra's composite technology makes it possible to construct a lighter monorail system, which brings down the life-cycle maintenance cost.

Hilmy said in 2006 and 2007, Scomi Engineering has invested close to US$10 million (RM31.60 million) in developing the Sutra.

Earlier, Scomi Engineering signed a collaboration agreement with the Hanoi Metropolitan Rail Metropolitan Rail Management Board (HRB) for the purpose of forming a strategic partnership to prepare a feasibility study on the implementation of a monorail system in Hanoi.

The strategic partnership has been granted an exclusive right by the People's Committee (Hanoi's city government) to prepare a comprehensive proposal on a monorail network to meet the urban transport requirements of Hanoi and integrate other urban transportation systems being implemented in Hanoi.

"The complete proposal is expected to be ready within the next six months," Hilmy said.

The agreement was signed by HRB's director-general Ha Huy Quang and Scomi Transportation Systems Sdn Bhd director Datuk Siddiq Firdause Mohd Ali.

Scomi Transportation is a subsidiary of Scomi Engineering.

Witnessing the inking of the agreement were Hanoi People's Committee vice-chairman Nguyen Van Khoi and Malaysian ambassador to Vietnam, Datuk Lim Kim Eng.

"The execution of this collaboration agreement signifies acceptance and confidence in Scomi's monorail technology," Siddiq said.

By collaborating with HRB, Siddiq expressed confidence that Scomi Engineering will achieve the primary objective of offering a viable urban transport solution to the people of Hanoi, as well as value-add through transfer of technology and related training to Vietnam.
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Old June 13th, 2008, 12:12 PM   #32
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Malaysian urban developer Gamuda enters Vietnam

An artist’s impression of the Yen So Park Development.

Gamuda Land, a property development arm of Gamuda Group, has made its maiden foray into Vietnam with a proposed 323-hectare fully integrated commercial development project, Starbiz reported Monday.
Construction of the project, valued at US$1bil, is due to start by the end of the year in Vietnam’s Hanoi capital and would take “no longer than eight years” to complete.

It would comprise, among others, a convention centre, office towers, international five-star hotels and luxury properties.

“We are looking at developing the project, known as Yen So Park, in Hanoi city into a commercial urban centre,'' Gamuda Land general manager (business development) John Yong told StarBiz yesterday.

“It is not going to be just a residential township development.''

He said Gamuda Land had established a joint venture with a local partner for the project since Vietnam does not allow foreigners to own land.

“We are going into the project … with funds and expertise to redevelop the area,” he said.

Yong said Gamuda had an 80 percent stake in the venture. The balance is held by state-owned Mechanical Engineering Services LLC, which owns the land.

“The development will be complemented with a 250-acre [100 hectare] botanic park, and positioned beside a 325-acre [131 hectare] lake system,” he said.

He said Gamuda would first improve the lake, currently used as a retention pond for floodwaters, and the park, and deal with the housing and commercial developments later.

Gamuda would generate income from the sale of its development to supplement the cost of the infrastructure upgrading, Yong said.

“We are still in the early stages of planning the whole thing, but we will be looking at no longer than eight years to complete the entire project,” he added.

On the commercial development, Yong said the company would seek suitable partners, such as international hotel operators and retailers, over the next few years.

“The payback for hotels is very fast, if done successfully. As far as residential properties in Vietnam are concerned, payments are very front-loaded, hence the risk to the developer is minimal,'' he said. “The demand in Vietnam is so great that there is always a shortage of quality development there.”

The growth of Vietnam's economy, which was 8.2 percent last year, was robust and it offered tremendous opportunities, he said.

“So, we are very excited and confident of the prospect the project offers.”

He said also the company was in discussions on a few more projects in Vietnam, including one of a similar scale as the Yen So project.

Platinum ups stake in Gamuda
by Jose Barrock
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KUALA LUMPUR: Platinum Investment Management Ltd has upped its interest in construction giant Gamuda Bhd, filings to Bursa Malaysia showed yesterday.

Sydney-based Platinum emerged as a substantial shareholder last Friday via an acquisition of 106.2 million shares in Gamuda in the open market, giving it a 5.3% stake.

Shortly after, the company picked up an additional 12 million shares in Gamuda, increasing its stake to 5.9%.

According to yesterday’s filing, Platinum had acquired an additional 16.7 million shares in Gamuda via open market transactions thus nudging up its equity holding to 6.7%.

The announcements by Platinum come on the back of FMR LLC & FIL Ltd hiving off its shares in Gamuda.

According to another filing, FMR & FIL had disposed of about 642,400 shares in Gamuda reducing its stake to 5.9%, comprising 119.2 million shares, down from March this year when FMR & FIL had about 11.3% or 225.7 million shares in the construction outfit.

Platinum’s interest in Gamuda comes at a time when the construction company’s outlook has been marred by its exposure to the Vietnamese market.

The macro economic picture for Vietnam has deteriorated with a rapid increase in its inflation rate and a plunge in the country’s stock exchange.

Gamuda’s projects in Vietnam are centred on the Yen So Park project and the Long An development.

The Yen So Park development especially has created waves as it involved a gross development value of about RM8 billion over a 10-year period, which includes the building of hotels, shop offices and convention centre among others.

Much of the company’s future earnings was slated to come from Vietnam. For the first six months ended Jan 31, this year, Gamuda posted a net profit of RM178.2 million on the back of RM958.8 million in revenue.

Year to-date, the stock has shed about 47% of its value.

It hit a 52-week low of RM2.39 on May 30. Since then, however, it has regained some ground and ended trading yesterday at RM2.61.
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Old June 16th, 2008, 05:37 AM   #33
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AP Land building up its brand regionally

ASIA Pacific Land Bhd (AP Land) is on a regional brand building and expansion exercise in the property and oil palm plantation sectors to widen and diversify its earnings base.

With property projects worth RM1.5bil in Malaysia, China and Japan in the next three years, the company is well positioned to raise its profile as a regional property player.

AP Land's venture into the agriculture sector last year is also part of the company's strategy to build up a stronger earnings base.

An artist's impression of AP Land's mixed residential and commercial development in Changshu, China.

The company made two acquisitions of oil palm plantation land totalling 36,000ha in late November last year and January this year.

The land will be fully planted over a four-year period and the first revenue will start streaming in by 2011.

“We would like to strike a healthy balance in our portfolio of investments. Our portfolio currently comprises the two main divisions – property and oil palm plantation/agriculture.

“Through prudent and resourceful management, we should achieve sustainable growth in both divisions in years to come,” joint managing director Low Su Ming told StarBiz.

AP Land has set out to build a strong plantation division to take advantage of the high crude palm oil price and demand in the global market.

Its long-term plan is to expand the company's plantations to 100,000ha in the next four years.

On the property business, Low said AP Land's maiden ventures in China and Japan would not only enhance the company's future earnings but also its profile as a regional property player.

With the sale of City Square Centre to Australia's Macquarie Global Property Advisors in the middle of last year for RM680mil and the settlement of RM350mil debts, the company is leveraging on its surplus cash position to pursue investment opportunities.

“With its debt-free status, AP Land is well positioned to seize good opportunities that may arise.

“We will grow according to the fundamentals of how we operate our business – the goal and objective is to grow shareholders' value, and the properties and projects that we invest in must perform and deliver,” Low said.

She said although the current global uncertainties, compounded by the high inflation and fuel prices, would dampen consumer and investor sentiments in the short term, “we remain confident this will only be temporary”.

Although the company is pursuing its overseas ambition, Malaysia will remain its mainstay.

“We do not want to put all our eggs in the same basket and having other overseas projects will be a cushion against any sudden market uncertainties.

“Diversifying into new markets will provide AP Land with another source of revenue if the Malaysian property sector moves to a lower gear,” she added.

Citing China, she said although growth had slipped from a high of 11% to 8% now, it was still a commendable rate.

“The Chinese government is closely monitoring the country's economic expansion to ensure it is based on sustainable growth policies and objectives to avoid any overheating.

“We see huge opportunities in China, especially in the third-tier cities. We are planning for more viable projects to make a bigger presence there,” Low said.

AP Land's maiden property project in Changshu, China, will take off in August with the launch of three-storey shop houses.

The three-phase project will comprise a mixed commercial and residential development of shop houses, offices, small office/home office (soho) units and apartments worth a gross development value (GDV) of 800 million yuan. The project will take three years to complete.

The 16.16-acre plot was acquired late last year from China's National Land Resources Bureau for RM46mil. It is located about 100km northwest of Shanghai.

Changshu is a third-tier city where a number of large multinationals from Taiwan and Japan have manufacturing operations.

AP Land, which recently acquired a piece of freehold land in Hokkaido measuring 3,082 sq m for RM18.9mil, will make its debut in Japan's real estate market later this year.

It is embarking on a niche boutique high-end residential development in the upcoming ski resort of Niseko, located in northern Japan. The project will generate an estimated GDV of 5.7 billion yen.
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Old June 16th, 2008, 12:52 PM   #34
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Brokers' View:
Hyderabad airport boost for MAHB

Published: 2008/03/11

Malaysia Airports, which holds an 11 per cent stake in the new airport, has already earned revenue by providing technical advisory services and training

OSK Research Sdn Bhd said the launch of the new Hyderabad International Airport in India on Friday will further cement Malaysia Airports Holdings Bhd's (MAHB) growing reputation as an international airport operator of choice.

MAHB holds an 11 per cent stake in the new airport, while the GMR group owns 63 per cent and the Andhra Pradesh government and the Airport Authority of India has 13 per cent each.

"Prior to the opening, MAHB has already earned revenue from the airport by providing technical advisory services and training the personnel for the airport both in India as well as in Malaysia.

"MAHB will continue performing these roles and will also earn investment income from its small stake although this will likely be insignificant upfront," OSK Research senior vice-president Chris Eng wrote in a report yesterday.

Aside from Hyderabad, MAHB also owns a 10 per cent stake in the Delhi International Airport, manages the Astana International Airport in Kazakhstan and has a 20 per cent stake in the building and operation of a new airport terminal at Sabiha Gokcen airport in Turkey.

The research firm is maintaining its forecasts and fair value for MAHB at RM3.72.

"We continue to view MAHB as a defensive stock and even if its financial restructuring were to be possibly delayed to 2009 due to the recent election results, it would only pare down our fair value slightly to RM3.70," said Eng.
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Old June 16th, 2008, 12:52 PM   #35
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More joint bids for airport jobs
From Hamisah Hamid Published: 2008/03/13

Bangalore-based infrastructure giant GMR plans to partner Malaysia Airports to bid for the development of Chennai and Prague airports
NEW DELHI: India's GMR Group plans to jointly bid with Malaysia Airports Holdings Bhd (MAHB) and other partners to develop airports in Chennai and Prague, Czech Republic.

Delhi International Airport (P) Ltd (DIAL) associate vice-president of corporate communications, Arun Arora, said the bids for the airports are expected to open this year.

"We plan to work with MAHB. We believe in building strong relationship with our partners," he told the Malaysian media here yesterday.

Bangalore-based infrastructure giant GMR has so far won the bid with MAHB and other partners to develop airports in Hyderabad and Delhi in India and Istanbul in Turkey.

The GMR-led consortium had clinched the contract to develop greenfield Rajiv Gandhi International Airport (RGIA) in Hyderabad and brownfield Delhi Indira Gandhi International Airport (DIGIA) here, as well as greenfield Sabiha Gokcen airport in Istanbul.

MAHB holds an 11 per cent stake in RGIA and a 10 per cent stake in DIGIA, while GMR holds 63 per cent and 50.1 per cent of the two companies respectively.

Arun said partnership between GMR and MAHB started in 2000 when they, together with other partners, bid for the development of the Hyderabad airport.

He said GMR chose MAHB as its partner due to cultural factor.

"We are culturally aligned and it is important in managing people.

"We can buy any equipment, but when you manage people, you need cultural alignment," he said.

Arun said the development of DIGIA is benchmarked against the KL International Airport in Sepang.

The first phase of the US$7.5 billion (RM24 billion) DIGIA is expected to be completed ahead of schedule.

"The first phase of the airport (DIGIA) is scheduled to be operational in March 2010," he said. Sprawling across 2080 hectares, Phase One will cost US$2.25 billion (RM7.2 billion) to develop.

When all the phases of development are completed by 2026, DIGIA would be able to handle 100 million passengers per year.

It will also have 4,430m-long runway, which is one of Asia's longest runways that can cater to aircraft as big as the A380 superjumbo.

Arun said MAHB is involved in DIGIA operations as well as managing the retail side, through its retail arm, Malaysia Airports (Niaga) Sdn Bhd, or Eraman Malaysia.
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Old June 16th, 2008, 12:53 PM   #36
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Gamuda makes big imprint in desert sands

May 5 2007

IT WAS almost noon when senior safety officer Nazrul Faris Zainal Abidin took a hard look across the length of the runway Gamuda is building at the New Doha International Airport (NDIA).

He saw a mirage, beyond which were Gamuda workers in a fleet of trucks lining up at one of the four jetties along the airport that is being constructed.

They were waiting to load up on 10,000 tonnes of stones being shipped in from the United Arab Emirates (UAE).

Gamuda is one of the few Malaysian heavy construction companies making it big overseas.

At home, one of the testimonials to its building expertise is the soon-to-be-opened SMART tunnel, a costly project that will serve to act as both a gigantic storm drain and a four-lane motorway just south of Kuala Lumpur.

Some of Nazrul’s duties appear to be trivial, but they are crucial in a place like Doha as well as working alongside one of the world ’s strictest project consultants, Bechtel Overseas Inc.

He ensures that his colleagues don their hardhats, polycarbonate sunglasses and reflective life-jackets when working near the jetties.

“It’s noon. The shipment from UAE has ar r ived,” Gamuda’s marine logistics section manager Choo Choon Hooi informed Nazrul as he held up his watch to show the time.

It is estimated that about 4.5 million tonnes of stones are needed to pave the 4.25km and 4.85km runways at the new airport. Since Qatar does not have enough stones, about 3.7 million tonnes have to be shipped in from neighbouring countries.

Nazrul and Choo are among the 157 Gamuda staff stationed in Qatar since mid-2005 to manage construction of NDIA package 10.

Gamuda, WCT Engineering Bhd and China- based Sinohydro Corp are partners in a RM2 billion package to design and build airfield facilities, two tunnels and retention ponds at NDIA.

“There’s also not enough bitumen in Qatar.

We use three vessels to transport 12,000 tonnes of bitumen from Iran and Bahrain every month,” Sinohydro- Gamuda- WCT project director Param Sivalingam said.

During a briefing to Malaysian reporters in Qatar recently, he said the desert weather in NDIA had led to the discovery of new construction methods.

The Gamuda workers have also become more disciplined after working with NDIA consultant Bechtel, known in the global construction community for its strict quality controls.

“Bechtel, in one of its regular surveillance, came across hairline cracks on the surface of a few concrete blocks. We were instructed to destroy the structure and start all over again,” Param said.

“That ’s when we learnt that over here, the finishing quality is just as important as structural strength. We had to adapt to new methods of construction.

“We spent some money to engage a Swiss concrete expert. He came up with the right chemical mix to have the concrete set in exactly four hours. It was that precise.” Param explained that if the concrete were left to dry in the scorching midday sun and then chilled by the night winds, the expansion and sudden contraction would cause hairline cracks.

Furthermore, the concrete had to be treated to withstand the highly acidic and corrosive salt-water vapours blown in from the sea.

The safety, environmental conservation and health standards required to build NDIA are a lot more stringent than in Malaysia.

Param said the expenditure on these measures is estimated to make up 2 per cent of the project value.

To date, the contractors are halfway through the package and optimistic of completing the work on schedule.

The key to fast progress of the project is in the logistics. From the start the contractors knew they had to build their own jetties to avoid the bottleneck in the main port.

“We factored in the construction of four jetties to dock the stones and bitumen shipped in from neighbouring countries in our proposals. In order to carry out the work on time, the logistics must be properly planned so that we are in control of the whole supply chain,” Param said.

During the site visit, Malaysian journalists were reminded to put on their safety gears, including sunglasses.

“It’s not about being fashionable. Prolonged exposure to the glaring sun rays can damage our eyes,” he warned.

Param gave a tour of four gigantic asphalt plants churning out black tar. Polymer is added to the asphalt so that the runway can withstand the landing impact of the new Airbus A380-800 double-decker superjumbo airplane.

On a daily basis, the workers apply asphalt to about 4ha of the runway, layer by layer.

For such a sizeable project, the contractors are actually doing 10 times more than what they would normally do in Malaysia.

Since 40 per cent of the new airport is being built on reclaimed land, Gamuda uses the Global Positioning System (GPS) in their giant-sized graders to ensure that the stones are spread out evenly across the landing strip and taxiway.

“Over here, there is no room for sub-contracting.

We do the work ourselves,” Param said, adding that there are 2,300 people comprising about 20 nationalities working on the project site.

“It’s like a mini-United Nations here. We employ people who can do the work,” he said, adding that when the temperature gets to as high as 50°C, a stop-work order is issued for 10am to 4pm.

Most of the staff are from Indonesia, India, China, Pakistan, Nepal, Sri Lanka, Malaysia and the Philippines.

“When it is too hot, we take a rest and continue in the night under the spotlights. We also dish out salt tablets and remind workers to drink more water,” Param said.

“So far, our staff have risen to the challenge to deliver on time, within budget and according to the client’s specifications. You could say it is an achievement considering we ’re working under such punishing weather conditions,” he said.

The US$5 billion (RM17 billion) NDIA will be the first airport in the world designed to accommodate the 550-seater Airbus A380-800, which the country’s carrier Qatar Airways will begin using in 2009.

Located on a 1,700ha site about 4km from Doha’s existing airport, the first phase of NDIA will have two runways and 26 contact gates. When it opens in early 2009, it will be able to handle 24 million passengers and 750,000 tonnes of cargo a year.

Last edited by nazrey; June 16th, 2008 at 01:21 PM.
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Old June 16th, 2008, 01:00 PM   #37
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Nepal Invites Malaysia To Invest In Hydropower And Airport Development
June 16, 2008 16:54 PM
By Zuraida Abdul Rahman

PENANG, June 16 (Bernama) -- The Nepalese government is inviting Malaysian companies to consider investing in the country's hydropower, airport development and management, and tourism sectors.

Its ambassador to Malaysia, Dr Rishi Raj Adhikari, said Nepal offered potential in the hydropower sector due to its vast natural resources.

"The power generated can be utilised not just within Nepal but also in neighbouring countries like India," Adhikari said.

"India needs new sources of power and Nepal has the means to generate it. Malaysian investors should seriously view the prospects of investing in this sector," he added

Speaking to Bernama after the Nepalese Tourism Board promotions in Penang today, Adhikari said that Nepal recently ushered in a new era of politics.

"This new landscape is characterised by political stability and democracy with the focus now on attaining sustained economic and social development," he said.

"In this context, the government has also accorded priority to the development of the tourism sector by encouraging private sector investments for new tourist resorts, hotels and roads as well as the airline business," he added.

Nepal, nestled between India and China, has a diversity of tourist attractions in spite of its small geographical area. These include the highest mountain in the world, Mount Everest.

Nepal Airlines Corporation will also increase the frequency of its flights to Kathmandu from Kuala Lumpur from thrice a week to four times starting next month, Adhikari said

Another carrier from Nepal, Fly Yeti Co, has also been flying to Kuala Lumpur since January this year.

"We are hopeful that more tourists from Malaysia will be visiting Nepal, whether for holiday, pilgrimage or business. We are also looking at the possibility of having a direct flight from Penang to Kathmandu in the near future," he said.

Based on the country's statistics, tourist arrivals from Malaysia to Nepal increased by 28.1 percent last year compared to 2006. For 2008, there has been a growth of 44 percent in tourist arrivals to date.

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Old June 17th, 2008, 08:38 AM   #38
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Dubai Properties seeks tie-ups with Malaysians
BY Jeeva Arulapalam Published: 2008/06/17

DUBAI Properties, the largest master developer in Dubai, wants to tie up with Malaysian property developers for its on-going projects there.

The unit of government-owned Dubai Holding hopes to lure developers, contractors and real estate agents to invest in its booming property market.

"We are targeting mid-sized to big established developers with a minimum investment (capital) of US$100 million (RM327 million)," deputy chief executive officer Yaqoob Al Zarooni told reporters after a presentation on its Dubai projects, held in Kuala Lumpur yesterday.

Dubai Properties, which does not have a local partner, spoke to several developers yesterday.

"However, the discussions are very initial because such projects require due diligence and feasibility studies to be carried out beforehand," he said.

Dubai Properties, with an estimated US$100 billion (RM327 billion) ongoing projects, also wants to work with Malaysian real estate agents for the sale of its units, said sales development director Abdel Rahman Almadhloum.

Its biggest project is the recently launched US$60 billion (RM196 billion) green initiative covering 880 million sq ft.

Dubbed the "Sheikh Mohammed Rashid Gardens" project after the country's ruler, it comprises four clusters and 73 per cent greenery.

It will house a zoo, gardens, hotels, museums and higher educational institutions.

Other developments include its US$30 billion (RM98 billion) business bay, US$13 billion (RM43 billion) mixed-development known as the culture village and a US$15 billion (RM49 billion) housing estate.

Yaqoob said that with large projects such as the 64 million sq ft business bay, local developers could save on marketing and promotional costs due to the overall project's market visibility.

"Also, logistics here is easy - you are able to establish your office within a couple of months," he said.

Yaqoob said the Dubai property market offers diversity with various foreign developers from South Korea, Japan, Europe, South Africa and Australia.

However, developers have to work within the theme created for each project, he added.

Senior consultant Walid Hareb, who heads Dubai Consultancy, said there was a possibility of setting up a Malaysian theme city in Dubai.

"Malaysia has its uniqueness in terms of culture and heritage so the developers can bring these elements there," he said.
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Old June 18th, 2008, 08:13 AM   #39
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KNM bids for RM20b of projects
By Kamarul Yunus Published: 2008/06/18

The value of the contracts the engineering group is bidding for can go as high as RM50 million or less than RM1 million per project, says its group MD

KNM Group Bhd, a world-class process equipment fabricator, is bidding for RM20 billion worth of projects overseas, namely in Saudi Arabia, Kuwait and Qatar.

Group managing director Lee Swee Eng said that traditionally, the company's success rate in securing projects is between 20 per cent and 25 per cent.

"We are continuously bidding for projects irrespective of their size and value of the contracts. It can go as high as RM50 million or less than RM1 million per project," he told reporters after KNM's annual general meeting in Seri Kembangan, Selangor, yesterday.

"At any one time, we will bid for an average of 100 projects," he said.

KNM's order book stands at RM4.2 billion, with 95 per cent of the projects overseas and the rest domestic.

"Our order book is quite diversified and evenly spread around the world. We have projects in the Middle East, Southeast Asia, China, North and South America, Canada and Europe," Lee said.

He added that organic expansion will continue to be its main growth driver this year.

"The group continues to strive to improve its global market share for process equipment by expanding its current manufacturing plants and establishing new facilities in global oil and gas hotspots."

For instance, it approved capital expenditure last year to set up manufacturing facilities in Alberta, Canada; Espirito, Brazil; and Al-Jubail, Saudi Arabia.

"Once completed, the manufacturing facilities will significantly improve the group's ability to secure more contracts for projects in Canada, Brazil and the Middle East," Lee said.

The plant in Alberta is expected to be operational by the third quarter.

The company also announced plans this year to acquire two process equipment manufacturers, namely Belgium's Ellimetal and Germany's Borsig, for €20 million (RM101 million) and €350 million (RM1.8 billion) respectively.

"Such acquisitions are intended to elevate the group up the process equipment value chain," Lee said.

He added that Borsig had already started contributing to the group's revenue, while Ellimetal was expected to generate revenue by next month.

"Borsig's acquisition was completed on June 6, and its revenue consolidated in KNM's account this month, while we are close to concluding the purchase of Ellimetal this month."

Lee also said that the company does not actually reap benefits from the high oil price, but more from the demand for such fossil fuel.

"When there is demand for fuel, there will definitely be more jobs for us, the service providers.

"But it will not be good if the price of oil rises too high as that will adversely affect the economy, which will result in less demand for fuel," he said.
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Old June 18th, 2008, 08:15 AM   #40
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Ranhill eyes jobs in Mideast, SE Asia
By Sharen Kaur Published: 2008/06/18

The engineering group, which has a contract to construct the Women and Children's Hospital in Kuala Lumpur, is looking for similar projects in the two regions
ENGINEERING group Ranhill Bhd is eyeing hospital jobs in the Middle East and Southeast Asia that are similar in nature to its Women and Children's Hospital project in Kuala Lumpur.

"The Ranhill group is moving globally in all directions and we are looking for construction activities such as to build hospitals.

"We built the Serdang Hospital in 2005 and now have a contract to construct the Women and Children's Hospital. So we do have the expertise," its executive director Datuk Chandrasekar Suppiah told Business Times.

The Women and Children's Hospital Package 2 contract, worth RM720 million, was awarded to Ranhill in March. The hospital will be built by unit Ranhill Engineering and Constructors Sdn Bhd.

The contract involves piling, superstructure, mechanical and electrical, clinical and non-clinical fit-out works, and building the hospital on the premises of the General Hospital Kuala Lumpur.

Ranhill group president and chief executive Tan Sri Hamdan Mohamad said that a bulk of contribution from Package 2 will flow through in its next financial year ending June 30 2009 as construction will begin only in August after the completion of Package 1.

In the financial year to June 2007, Ranhill posted profit of RM117 million and revenue of RM1.47 billion.

Package 1, worth RM16 million, involves demolishing existing buildings and diverting services at the General Hospital to pave the way for construction. Works started in December last year.

"The Package 1 works have been carried out well according to programme and undertaken sensitively due to the proximity within a functioning hospital, with primary consideration to ensure continued operations at the General Hospital," Hamdan said.

Ranhill is positioning itself to carry out Package 2 on schedule and to complete the project by December 2011, he added.

The 13-storey hospital, within a six-storey podium to cater for both clinical work flows and patient needs, will be assigned as the national referral hospital on health matters concerning women birthing cycle and paediatric ailments.

It will have 600 beds, with allowance for 100 more beds for future expansion, supported by secondary and tertiary clinical care services.

Hamdan said the hospital project will open new avenues for the group, and it may undertake similar work for clients overseas.

Ranhill has a very strong order book for engineering, procurement, commissioning and construction work under its belt, which will last the company for another seven years.
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