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Old October 10th, 2017, 01:21 PM   #941
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KNM UK unit awards RM1.9b energy-from-waste project to China Western Power
CORPORATE NEWS
Tuesday, 10 Oct 2017 12:57 PM MYT
by daniel khoo



Quote:
KUALA LUMPUR: KNM Group Bhd's United Kingdom unit Peterborough Green Energy Ltd has awarded a £346mil (RM1.9bil) contract to a China Western Power Industrial Co. Ltd to build a energy-from-waste power plant.

KNM said on Tuesday Peterborough Green Energy had inked the engineering, procurement, construction and commissioning (EPCC) contract with China Western Power on a deferred payment scheme.

“The EPCC contract pertains to the erection of a net 36MW energy from waste power plant for its Peterborough Green Energy Project in UK for a period of 37 months from the commencement date of the construction, which is expected to commence in the first quarter of 2018,” it said.

KNM's core business involves process equipment manufacturing, provision of integrated solutions, project management, engineering and construction services for the renewable energy, power, utilities, refining and petrochemical industries.

As for China Western Power, which was incororated in the UK, is listed on the Shenzen Stock Exchange.

China Western Power is involved in manufacturing and exporting large scale boilers, auxillary equipment. It is an EPCC service provider for energy and power stations. It also has investments into waste treatment facilities in China.

KNM expects the project is expected to yield positive returns in line with its long term strategic direction of generating sustainable and recurring income streams from its renewable energy businesses.

It expects the project to provide recurring income in the near future as it seeks to turn its fortunes around.

Once the Peterborough Green Energy plant is complete, KNM would see most of its income from a recurring base.

“We are transforming. When the UK project starts we will derive 70% of our revenues from recurring incomes,” it’s CEO Lee Swee Eng told a press conference.

The company’s orderbook currently stands at RM2bil to RM2.5bil that will enable it to last up to two years.

“At least in terms of our earnings we will be cushioned with the recurring income and we won’t be subject to these roller coasters based on the oil price,” he said.

"We have to use a different method to value this company in the future because we are no longer relying much on orderbook anymore for our income,” he added.
Read more at http://www.thestar.com.my/business/b...S5EfED1GHqw.99
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Old October 10th, 2017, 01:24 PM   #942
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Mega First secures RM635m financing for Laos project
October 10, 2017 @ 7:10pm


Quote:
KUALA LUMPUR: Mega First Corp Bhd secured US$150 million or RM634.87 mil to part finance construction of its Don Sahong hydropower project in Laos.

In its filing to Bursa Malaysia today Mega said it is made up of US$85 million term loan facilities and US$65 million Islamic financing.

“Based on today’s cost of funds, the weighted average interest is 4.51 per cent,” it said.

The conventional loan is up to six years with repayment starting January 2020 or a mutually agreed later date.

As for the Islamic financing facility under the shariah principle of tawarruq (commodity murabahah), Mega First said the tenure is up to six years with repayment of the financier’s sale price starting three months after the first disbursement / utilisation date.

According to Mega First's website, the Don Sahong hydropower project is a run-of-river hydroelectric power scheme located in the Khong District of Champasak Province in Southern Laos. The scheme has been designed with a generation capacity of 260MW.

The proposed dam is at the southern end of the Sahong channel, one of seven major channels of the Mekong River in the Siphandone (Four Thousand Islands) area that flow over the geological feature called the “Great Fault Line”.

The project would utilise 15 per cent of the total Mekong flow.

The dam and associated embankments will create a small head-pond (covering 125ha of land) between the islands of Don Sahong and Don Sadam.

This head-pond will allow the natural fall of approximately 20m across the “Great Fault Line” to be utilised for power generation.

The Don Sahong hydropower project will generate business opportunities and employment for the local communities.

While producing 260MW of renewable energy for the expanding Lao national grid, the Don Sahong project would make a significant contribution to the socio-economic development of the country.

At the close of trading today, Mega First traded 2 sen higher at RM3.58, bringing its value to RM1.39 billion
https://www.nst.com.my/business/2017...g-laos-project
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Old October 13th, 2017, 07:59 PM   #943
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Local players eye India state road jobs
By Farah Adilla - October 13, 2017 @ 12:01pm



Quote:
KUALA LUMPUR: Several local consortia are eyeing RM6.5 billion worth of state road projects in Rajasthan, India, as the industry pushes for internationalisation under the Construction Industry Transformation Programme (CITP).

Works Minister Datuk Seri Fadillah Yusof said the ministry, together with the Construction Industry Development Board (CIDB), hoped to secure projects under the programme, which had already surpassed its target for this year.

“As of the second quarter, the industry had secured 79 overseas projects worth RM2.7 billion. That surpassed the full-year target of RM2 billion. Our target for the duration of the CITP up to 2020 is RM8 billion.

“There are a few more projects that we are bidding for through CIDB, but we hope to secure one particular project in India.

“Hopefully, we will get good news from that project, as we have been invited to take part under the Swiss Challenge,” he said after chairing the CITP Ministerial Committee meeting, here, yesterday.

Fadillah added that the construction industry had achieved 96.5 per cent of its second quarter 2017 key performance indicators (KPIs) under the CITP.

He said the programme was set to achieve its KPIs and outcomes through strategic collaborations with key stakeholders, including the ministry, Public Works Department, Urban Wellbeing, Housing and Local Government Ministry, CIDB and private industry players.

“The construction industry plays a catalytic role in the growth of the Malaysian economy, and the CITP is the blueprint for the industry to become a safer, more modern, productive and sustainable sector.

“We are pleased that the industry is on the right track to reach the KPIs and outcomes set for 2020.

“Looking at CITP’s progress from January last year to June this year, we have achieved the Green (Way To Go) score of 96.5 per cent KPIs achieved,” he said.

The CITP Ministerial Committee was convened to review the progress of the CITP targets from January last year to June this year, and is responsible for charting the overall success of the CITP.

CITP 2016-2020 was launched by Prime Minister Datuk Seri Najib Razak, with the primary objective of transforming the construction sector towards becoming one that is highly productive, environmentally sustainable, on a par with globally competitive players and one that prioritises safety and quality standards
https://www.nst.com.my/business/2017...tate-road-jobs
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Old October 21st, 2017, 12:56 AM   #944
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Ranhill's new 20-year concession expands its Thai water treatment capacity to 17 MLD
By NST Business - October 20, 2017 @ 9:56pm


Quote:
KUALA LUMPUR: Ranhill Holdings Bhd won a project worth 152.58 million baht or RM19.33 million, to build, operate and transfer a water treatment plant in Thailand.

In its filing to Bursa Malaysia today, Ranhill said the contract to build a seven million litres per day (MLD) water treatment plant was awarded to its indirect subsidiary AnuRAK Water Treatment Facilities Co Ltd by Amata Water Co Ltd.

Currently, Ranhill said AnuRAK already has an existing 10 MLD Water Reclamation Plant in Amata Nakorn Industrial Estate in Thailand’s Chonburi Province, which has been in operations since year 2012 and producing treated water for industrial reuse purposes.

This new 20-year concession will increase Ranhill’s reuse and recycle treatment capacity in Thailand to 17 MLD.

Ranhill is hopeful this water treatment concession would contribute positively to its revenue and earnings, next year
.

https://www.nst.com.my/business/2017...nt-capacity-17
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Old November 9th, 2017, 08:33 AM   #945
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Sime Darby Property completes Battersea tunneling work
November 9, 2017 @ 2:06pm



Construction cranes operate at the Battersea Power Station office, retail and residential development, which is backed by Sime Darby Bhd, SP Setia Bhd Group and the Employees Provident Fund in London, U.K., on Wednesday, Jan. 4, 2017. Home prices in the heart of London sank further in October, while growth overall slowed and suburban areas boomed. Pix by Bloomberg.Simon Dawson
Quote:
KUALA LUMPUR: The two 3.2 km tunnels from Battersea Power Station, via Nine Elms, have been built as huge tunnel boring machine broke through at Kennington, the first major extension to London’s Tube line since the Jubilee line in the late 1990s.

Since their launch in the spring, two tunneling machines worked around the clock to create the north and southbound tunnels that will extend the Charing Cross branch of the Northern line, Sime Darby Property Bhd, the developer of the Battersea Power Station project, said in a statement today.

The extension of the line was targeted for completion in 2020.

Battersea Power Station is one of central London’s largest, most visionary and eagerly anticipated new town centres in which roughly half the development would comprise of shops, restaurants and office space.

“Today’s breakthrough is a momentous moment for a project that is going to bring huge benefits to south London. The Northern Line Extension is not only going to make travelling to Battersea and Nine Elms easier, it’s also going to bring tens of thousands of new jobs and homes to the area.

“It’s another great example of why new infrastructure is so vital to London’s success and the wider economy,” London Mayor Sadiq Khan was quoted as saying in the statement. – BERNAMA
https://www.nst.com.my/business/2017...tunneling-work
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Old November 14th, 2017, 08:29 PM   #946
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Rohas Tecnic secures a combined contract worth RM54 million
November 13, 2017 @ 9:25pm


Quote:
Rohas Tecnic Bhd (RTB) via its 75 per cent-owned subsidiary, HG Power Transmission Sdn Bhd (HGPT), has secured a combined contract worth RM54 million from Power Grid Company of Bangladesh Ltd for the design, supply, installation, testing & commissioning of new and reinforcement of existing 132 KV Transmission Lines.

In an exchange filing today, RTB said the project is funded by KfW Development Bank, Germany and it is expected the contractual completion period is about 24 months.

It noted the scope of work includes Second Circuit Stringing of 132 KV Gopalganj-Madaru Transmission Line – 45 kms, construction of new 132 KV Mongla-Bagerhat Transmisison line – 31 kms, re-conductoring of 132 KV Bheramara-Rajbari Transmisison line – 80 kms and construction of new LILO 132 KV Jhenaidah-Chuadanga Transmisison line – 3.5 kms.

RTB said the project would not have any material impact on its results for the year ending December 31, 2017 but is expected to contribute positively in the future
https://www.nst.com.my/business/2017...h-rm54-million
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Old November 26th, 2017, 08:24 AM   #947
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Eco World to redevelop Sydney's Macquarie Park site
By NST Business - November 24, 2017 @ 2:56pm

Quote:
KUALA LUMPUR: Eco World International Bhd (EWI) has today secured access to a prime development land situated 12 kilometres northwest of Sydney’s central business district with plans to develop a AU$139 million gross development value (GDV) project there.

The project site is at 1-3 Lachlan Avenue, Macquarie Park, Sydney adjacent to Macquarie University in the Macquarie University Precinct.

In a statement today, EWI said the area is home to one of Australia’s top 10 universities and top two per cent universities in the world that attracts thousands of international students annually.

It is also strategically positioned within close proximity to the Macquarie Innovation Park District (MIPD), Macquarie University Train Station and Macquarie Shopping Centre.

MIPD is Sydney’s second largest business district and one of the largest business and technology precincts in the Southern Hemisphere.

“We are delighted to be able to add the Macquarie Park site, which is situated in a fast-growing location extremely popular with Sydney-siders, to our growing project portfolio in Australia.

“Our decision to focus on serving the needs of the domestic property market began with the acquisition of the Yarra One site in South Yarra, Melbourne.”

The latest deal followed EWI’s recent deals with Willmott Dixon to potentially acquire 12 projects in the UK.

“The announcement today is therefore in line with our overall strategy to localise our brand wherever we operate,” said EWI president and chief executive officer Datuk Teow Leong Seng.

EWI said at present, there is an existing building located on the project site with 30 en-bloc apartment units.

It said under the Strata Schemes Development Act 2015 (Australia), 75 per cent of unit owners in a strata scheme can agree to end their strata scheme, so the site can be redeveloped or sold.

EWI has also entered into a call and put option agreement with owners of 25 of the apartment units to acquire these units by way of a collective sale, representing 84.2 per cent of the strata scheme which enables the company to proceed with the acquisition of all the apartment units through a strata renewal process under the Act.

It said the estimated purchase price to acquire the entire site is about AU$40 million and the proposed acquisition is expected to be completed by November 2018.

EWI said it plans to develop 125 units of residential apartments with a small component of retail.

The project is targeted to be launched in the first half of 2019 and completed over three to four years from the date of launch.

Funding for the proposed acquisition of the Sydney project is expected to come from a combination of the proceeds of EcoWorld International’s recent IPO and bank borrowings /other debt instruments, it said.
https://www.nst.com.my/business/2017...arie-park-site
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Old November 26th, 2017, 08:42 AM   #948
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IJM awarded RM1.5 billion highway job in India
By NST Business - November 22, 2017 @ 8:27pm

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KUALA LUMPUR: IJM Corporation Bhd has clinched the RM1.5 billion contract to build a 109 km highway in India.

In a statement, the group said it has accepted a letter of award from the National Highway Authority of India (NHAI) to develop the Solapur-Bijapur section of the new National Highway 52 between the states of Maharasthra and Karnataka.

The project will involve the rehabilitation, upgrading and widening of the existing two-lane carriageway to four-lane standards with bypasses and the construction of flyovers, bridges, road intersections, railway overbridge as well as the operation and maintenance of two toll plazas.

Connecting southern India with northern India, the tollway will serve as an alternative route to the North-South Corridor of the National Highways Development Programme (NHDP).

“We are honoured that IJM has been entrusted by NHAI again with this important infrastructure project to develop the Solapur-Bijapur tollway,” said IJM chief executive officer and managing director, Datuk Soam Heng Choon.

“The award affirms IJM’s proven capabilities in roads and highways sector. It will see us proudly utilising our skills and experience, building on our track record of delivering 16 major road projects totalling 1,378 km in India since 1998.”

Dewas Bypass Tollway Pte Ltd, a wholly-owned subsidiary of IJM has since March this year been involved in a RM193.8 million project to widen and upgrade 19.8 km of the Dewas Bypass bypass road in Madhya Pradesh, India.

IJM’s Infrastructure Division currently operates two tolled highways in India – the 246.8km Rewa Tollway and 68.5km Chilkaluripet Vijayawada Tollway and owns 30 per cent of SwarnaTollway.

As per the agreement, NHAI will provide a grant of about RM235.86 million for the project.

The concession is for 20 years, including a construction period of 30 months. Work is expected to begin in mid-2018 and is scheduled for completion in 2021.

At RM1.5 billion, the Solapur-Bijapur tollway will be the largest Indian project undertaken by IJM in value.
https://www.nst.com.my/business/2017...hway-job-india
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Old December 6th, 2017, 08:14 AM   #949
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TH Properties eyes London, Jakarta markets
By MAHANUM ABDUL AZIZ - December 6, 2017 @ 11:02am



TH Properties Sdn Bhd Group managing director Datuk Roszali Othman says the company is in the midst of identifying the right partner.

Quote:
LONDON: TH Properties Sdn Bhd, the property arm of Tabung Haji, is exploring opportunities to penetrate the residential property markets in Jakarta and here, which it says have huge growth potential.

Group managing director Datuk Roszali Othman said the company was in the midst of identifying the right partner.

He said the decision was based on the success of a similar move in its Australian venture.

Roszali said TH Properties had six projects in Sydney with a total gross development value of about RM3.5 billion.

These projects had contributed significantly to the company’s profits.

“We are constantly exploring opportunities to penetrate the overseas markets.

“For us, to succeed in the external market is to have a good partner,” he said at the International Property Awards 2017-2018 organised by the International Property Media, here, yesterday.

Roszali said the company did not set any time frame to penetrate the two markets.

He said it was important to identify the right partner as well as the right development project that would be profitable and in line with the company’s business strategy.

On TH Properties’ financial performance, Roszali said the developer was on track to record a pre-tax profit of RM94 million this year, compared with RM73.72 million in the same period last year.
https://www.nst.com.my/business/2017...akarta-markets
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Old January 12th, 2018, 11:29 AM   #950
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Johor Sultan invests US$100m in Sri Lankan 'Pharma Zone'
Published on: Friday, January 12, 2018


Quote:
PETALING JAYA: The Sultan of Johor, Sultan Ibrahim Ibni Almarhum Sultan Iskandar has teamed up with entrepreneur Patrick Lim Soo Kit to invest in US$100mil industrial zone for pharmaceutical manufacturers in Sri Lanka.

According to a press release, the State Pharmaceuticals Manufacturing Corporation of Sri Lanka (SPMC) and Pharma Zone (Pvt) Ltd entered into an agreement to build the first ever exclusive pharmaceutical manufacturing zone of Sri Lanka in the Welipenna area of the Kalutara district.

Pharma Zone, located on 50 acres is a Sri Lankan Board of Investment approved company whose principals are Sultan Ibrahim and Lim Soo Kit a leading Malaysian entrepreneur.

It is the Sultan's desire that this investment results not only in commercial success but also that it will benefit as many Sri Lankan citizens and promote closer commercial and diplomatic relations between the people of Sri Lanka and Johor.

"We are delighted to enter into this agreement with the government of Sri Lanka which has always enjoyed warm relations with Malaysia. It is the fervent wish of Sultan Ibrahim, that this venture not only brings commercial prosperity to Sri Lanka but benefits the people by way of reduced pricing as well as the ready availability of drugs," Lim said in the statement.

"This is a 100% Malaysian investment and it underlines the high regard that the Sultan and the people of Johor for Sri Lanka," he added.

The Pharma Zone will facilitate the local pharmaceutical manufacturers with sufficient land for manufacturing plants and basic infrastructure facilities for the manufacture of pharmaceutical products with a view to achieving the Sri Lankan Government's target of localising production of essential pharmaceutical items to a value of US$100mil, thus saving valuable foreign exchange.

SPMC chairman Dr. Sayura Samarasundara said that with the completion of the Pharma Zone, envisaged to be in operation within one year, the Country Sri Lanka's dependency on imported drugs would soon become a thing of the past.

The zone will be run and administered by Pharma Zone, headed by Lim, while the SPMC along with the Sri Lankan Health Minister will set the standards and monitor quality.

"We will be marketing Pharma Zone regionally," Lim said, adding that it was the intention of Pharma Zone to attract overseas investors to set up operations within the zone as well
http://www.dailyexpress.com.my/news.cfm?NewsID=122232
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Old January 19th, 2018, 12:43 PM   #951
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PNB, EPF buy Battersea Power Station for 1.6b pounds
January 18, 2018 @ 7:38pm By ZARINA ZAKARIAH

Quote:
KUALA LUMPUR: Permodalan Nasional Bhd (PNB) and Employees Provident Fund (EPF) will jointly buy the Battersea Power Station building in London for 1.6 billion pounds (RM8.8 billion).

The building is reportedly where Apple Inc planned to occupy its new UK headquarters.

Battersea Power Station Development Company (BPSDC) confirmed that Battersea Project Holding Company Ltd (BPHC) had approved the exclusive transaction aimed at reorganising ownership of the building to create a long-term asset management and ownership structure.

The deal will not affect the shareholdings of Sime Darby Property Bhd, SP Setia Bhd and Employees Provident Fund of Malaysia (EPF) in BPHC, which is the holding company of the Battersea project.

“The shareholders in the proposed new structure will be Malaysian investors PNB, one of the largest asset management companies in Malaysia and EPF who, through their holdings in the current developers and directly, already own 70 per cent of the entire project,” BPSDC said in a statement yesterday.

PNB and EPF are long term investors with existing real estate exposures in the UK market.

The £1.6 billion will be paid in stages through the rest of the construction phase of The Power Station building.

A BPSDC spokesperson said the building would provide both investors with a unique investment opportunity to own an iconic development in the heart of London.

“With the conclusion of the transaction, BPSDC will remain the active manager of the development. This creates a solid platform that will ensure the protection, active management and control of the historically important building are maintained.”

The Battersea Power Station Grade II listed building is about halfway through a comprehensive refurbishment or reconstruction that will complete in late 2020.

The five-year project is the largest historic building project ever undertaken in the UK and when finished, will become the heart of the wider 42-acre mixed use scheme.

On completion, the building will be 25 per cent residential use including over 250 apartments, the majority of which have already been pre-sold.

A further 25 per cent is new office space which has already been pre-let to Apple in one of London’s largest ever office pre-lets.

The remaining balance of the building will be retail and leisure accessed from the two historic turbine halls, the leasing programme of which will commence this year.

Battersea Power Station was first opened in 1933. However, due to the break out of World War II, the building did not complete until 1953.

During operation, it supplied one fifth of London’s electrical power including serving the war rooms and Buckingham Palace.

The building finally stopped producing power in 1983 and has ever since undergone a number of failed schemes to preserve the much-loved structure.

“The Malaysian shareholders purchased the site in September 2012 and have since made significant progress including the successful completion of the first phase of the development which is now home to over 1,000 residents and a collection of independent retailers and restaurateurs.

“The proposed transaction reflects the shareholders’ long-term commitment to Battersea and London,” the spokesperson further added.

Discussions are currently at a preliminary stage and a further announcement will be made in regards to the deal moving forward, BPSDC said.
https://www.nst.com.my/business/2018...ion-16b-pounds
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Old January 20th, 2018, 08:45 AM   #952
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Battersea Power Station phase 2 acquisition purely commercial: EPF, PNB
By ZARINA ZAKARIAH - January 19, 2018 @ 8:40pm



Quote:
KUALA LUMPUR: The Employees Provident Fund (EPF) and Permodalan Nasional Bhd (PNB) said the potential acquisition of Phase 2 of the Battersea Power Station (BPS) project was purely based on commercial consideration.

This was in line with the funds’ diversification plan to actively expand their real estate and infrastructure assets globally, the EPF and PNB said in a joint statement yesterday.

“The EPF has been actively expanding its real estate and infrastructure assets both domestically and overseas to deliver long-term sustainable income for the benefit of its members.

“The proposed transaction is also in line with PNB’s Strategic STRIVE-15 Plan which outlines a long-term strategy of portfolio diversification and judicious expansion into global assets,” they noted.

The EPF and PNB on Thursday announced that they had signed a Heads of Terms (HoT) with Battersea Phase 2 Holding Co Ltd to initiate preliminary negotiations to buy commercial assets in Phase 2 of the BPS development for an estimated £1.61 billion.

“The EPF and PNB are now contemplating to acquire ownership in Phase 2 of the project, known as The Power Station building, which is the anchor project consisting mainly of retail and office spaces.

“The EPF and PNB view this as a strategic opportunity to secure ownership of a unique and iconic real estate asset in a global city, which will be able to deliver a sustainable income stream into the future to meet their respective income needs,” they said.

The EPF and PNB dismissed claims that there was government intervention, saying the decision was purely an investment consideration initiated together with the BPS board and management team.

“The EPF and PNB are steadfast and committed to uphold the trust of the two institutions’ members and unit holders respectively, as well as the Malaysian public, and any inferences that investment decisions are made for any other reason than for the benefit of the people are completely false and malicious,” they said.

Phase 2 of the project is expected to be completed by late 2020 and has also been pre-let to anchor tenants such as Apple, one of the world’s leading technology companies, for a 500,000 sq ft tenancy – in one of London’s largest ever office prelets.

The funds said this bodes well for potential investors, as it is seen as a precursor to an exciting future for the Battersea Power Station development.

“The purchase price, which is still subject to further due diligence, has been structured based on a completed and tenanted basis, to provide attractive long term yield for the investors,” they added.

The EPF is part of the consortium of developers, consisting of SP Setia Bhd and Sime Darby Property Bhd in the greater BPS development which began in 2012, with the entire development spanning Phase 1 to Phase 7.

The EPF directly owns 20 per cent of the development and had said the reorganisation exercise will not affect its shareholdings in the existing overall development.

PNB, on the other hand, holds majority stakes in SP Setia and Sime Darby Property, which collectively own 80 per cent equity in the BPS development.

“Phase 1 of the project, which comprises largely residential units, is already completed with 100 per cent take-up rate and has been successfully handed over to the residential buyers in the last quarter of 2017, while the residential component of Phase 2 is almost 100 per cent taken up.

The funds said the initial capital invested into the project by the consortium of developers has also been reinvested into developing subsequent phases.
https://www.nst.com.my/business/2018...ercial-epf-pnb
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Old January 31st, 2018, 11:57 AM   #953
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Genetec Technology to build ammonia factory in India
Published on: Wednesday, January 31, 2018


Quote:
Kuala Lumpur: Genetec Technology Bhd has entered into a Memorandum of Understanding with three companies to build an ammonia and urea manufacturing plant in Andhra Pradesh, India.

In filing to Bursa Malaysia on Tuesday, the company said the partnership involved the Malay Chamber of Commerce Malaysia, China Rainbow International Investment Co Ltd, and VBC Fertilizers & Chemicals Ltd.

Genetec Technology said the plant, which would have a capacity of 2.5 million metric ton per annum, would be built on a land allocated by the state government of Andhra Pradesh.

The MoU will not have any material effect on the earnings per share, net assets per share, and gearing of the company, it added. – Bernama
http://www.dailyexpress.com.my/news.cfm?NewsID=122618
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