Saturday, August 6, 2011

JIT News - PLUS/UEM Group, MMC Corp/PLUS, MRCB/Wkovest,SAAG.. 11/1/2011

PLUS/UEM Group: Only the joint venture of UEM Group Bhd and the Employees Provident Fund (EPF) has remitted the cash deposit of RM50 million in their joint offer to take over for RM23 billion offer or RM4.60 per share. UEM and the EPF has also submitted a letter from their financiers with regards to UEM and EPF’s financial ability to undertake and complete their proposed acquisition of PLUS' business. Apart from UEM and the EPF, "there are no new offers received by PLUS".

MMC Corp: MMC Corp Bhd has not received any indication from government on its proposal to acquire PLUS Expressways. It will make the relevant announcement to Bursa Malaysia as and when there is a material development in relation to this proposal. MMC had also said then it would lead a consortium for the proposed acquisition but it had not approached Employees Provident Fund and/or Permodalan Nasional Berhad to be its partners.

MRCB/Ekovest: MRCB and Ekovest Bhd say they have not received any letter of award from the government for a Klang Valley river project. The project could be worth RM8 billion.

SAAG: Its subsidiary has secured a US$78 million (RM239.54 million) contract from Mrails Tram (Melaka) Sdn Bhd to design and build 40 km of tramway in Melaka. Its overseas subsidiary OGS Asiapac Ltd had secured the design, engineering, procurement, construction and commissioning (EPCC) contract on Dec 23 2010. Mrails Tram is incorporated in Malaysia and it had signed a principal agreement with the Chief Minister of Malacca (Incorporation) on March 3 2010 for a 25 year concession with the Malacca government to provide 40 km of tramway in the state capital to enhance the public transport facilities.

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