(The Sun 4-3-2008)
Tuesday, March 4, 2008
Oval rises in KLCC
The rising prices of superluxury condominiums in the vicinity of the Kuala Lumpur City Centre (KLCC) is one reason GuocoLand (M) Bhd is confident its latest project will be well received.Its chief executive officer Paul Poh said prices for a unit at its Oval project is on an average RM1,500psf, although neighbours are indicating they would be pegging the prices upwards of RM2,000psf.“The Oval’s prices have been fixed for now and therefore any upside in capital gains should rightfully accrue to the buyers,” he said.“For us, reputation is of utmost importance, rather than short-term gains.”However, Poh said prices could be reviewed at the time of the official launch, tentatively scheduled for June.Rising on a 2.14-acre freehold site, the 41-storey twin towers, dubbed East and West, will each have 70 units. GuocoLand purchased the property from Titan Debut Sdn Bhd, when it was 30 per cent complete, in April last year for RM404.58 million.The company has sold 30 per cent of the units so far, after a sales preview held last month.
(4-3-2008)
INS Bioscience to buy property
INS Bioscience Bhd (INSBIO) through its subsidiary, Easy Pha-Max Marketing Sdn Bhd (EPMM), has entered into an agreement with Flora Development Sdn Bhd to acquire a four storey shop office for RM5.45 million.The property, located in Bandar Puteri Puchong, will be used to accommodate anticipated future growth in business for EPMM, the company said in a filing to Bursa Malaysia yesterday.EPMM is principally involved in general trading, export, import of household and office equipment.“This acquisition will result in rental savings and the benefit of acquiring a readily available property will outweigh the longer time needed to construct a shop lot,” it said. - Bernama
(New Straits Times 4-3-2008)
Bountiful fish harvest seen from Lake Kenyir project
TERENGGANU Agrotech Development Corp Sdn Bhd (TADC) expects fish production at its Lake Kenyir project to surge tenfold to 2,000 tonnes a year.TADC executive director Adnan Ghazali said this is achievable as more entrepreneurs join the lake's aquaculture programme.On average, a fish cage can produce about one tonne of fish.Entrusted by the Terengganu state government to be the integrator and developer for fish farming in Lake Kenyir under the East Coast Economic Region (ECER) project, TADC is targeting about 2,000 fish cages by year-end.Adnan calculates that if an entrepreneur is responsible for 10 participants, with each participant farming 20 fish cages, then this single entrepreneur will be in charge of 200 fish cages.Over the next three years, TADC has plans for 300 people including entrepreneurs, to be involved in its Lake Kenyir aquaculture project.Through this initiative, Adnan is optimistic that TADC will be able to meet its ECER target to boost fish output up to 6,000 tonnes a year in the next three years.Adnan said a strong pull factor is the profits. Each participant can get at least a monthly income of RM700 while entrepreneurs are assured of RM1,500. Read more
(New Straits Times 4-3-2008)
Wah Seong set to get RM800mil contracts
THINGS are still looking good for Wah Seong Corp Bhd despite the recent loss of the Nord Stream contract. The group is on the verge of clinching some RM700mil to RM800mil worth of oil and gas (O&G) contracts. Deputy group managing director Giancarlo Maccagno said Wah Seong was in the midst of finalising a host of pipeline construction, manufacturing and coating contracts. “We are confident the contracts would be signed within the next two to three weeks,” he told StarBiz. The contracts that are seen to be already in the bag for Wah Seong are:
·Two pipeline construction contracts worth RM150mil and RM75mil each in Australia,
·Two pipe-coating contracts totalling RM140mil to RM150mil in Turkmenistan and Malaysia, and
·The RM400mil pipe manufacturing and coating contract for the Sabah Sarawak Gas Pipeline (Bintulu contract).
The upcoming contracts would boost the group's order book, which stands at RM1.6bil to date, to more than RM2bil. Most of the contracts would also contribute to bottom line this year.
·Two pipeline construction contracts worth RM150mil and RM75mil each in Australia,
·Two pipe-coating contracts totalling RM140mil to RM150mil in Turkmenistan and Malaysia, and
·The RM400mil pipe manufacturing and coating contract for the Sabah Sarawak Gas Pipeline (Bintulu contract).
The upcoming contracts would boost the group's order book, which stands at RM1.6bil to date, to more than RM2bil. Most of the contracts would also contribute to bottom line this year.
(The Star 4-3-2008)
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