Thesun 2008-11-11 Page15 Scomi Wins Rm1.8b Monorail Job In Mumbai

theSun

15

| TUESDAY NOVEMBER 11 2008

business news

Hang Seng

S&P/ASX200

14,744.63

4,107.8

501.20

56.5

TSEC

4,740.27

2.06

KLCI

STI

KOSPI

Nikkei

904.24

1,885.02

1,152.46

9,081.43

10.29

21.53

17.97

498.43

market summary NOVEMBER 10, 2008

Bursa shares firmer SHARE prices on Bursa Malaysia ended firmer yesterday following continuous bargain-hunting activities in selected heavyweights on the back of an improved global sentiment, dealers said. They said interest in key index stocks, especially plantation stocks, helped pushed the KLCI to 904.24, up 10.29 points or 1.15% at close. The CI opened 7.72 points higher at 901.67 in the morning. Gainers thumped losers by 458 to 140 while 182 counters were unchanged, 550 untraded and 34 others suspended. At the regional level, market sentiment improved as China announced a US$586 billion (RM2.051 trillion) stimulus package on Sunday to cushion the impact of the US financial crisis on its economy. Last week, Malaysia announced a RM7 billion stimulus package to boost the local economy. Volume leaders KNM Group added 3.5 sen to 69 sen, MRCB rose 4.5 sen to 87 sen, Scomi increased four sen to 44.5 sen and Time DotCom added 3.5 sen to 30.5 sen.

INDICES PMEMAS COMPOSITE INDUSTRIAL CONSUMER PROD INDUSTRIAL PROD CONSTRUCTION TRADING/SERVICES FINANCE PROPERTIES PLANTATIONS MINING FBMSHA FBM2BRD TECHNOLOGY

CHANGE 5,953.81 904.24 2,143.52 276.97 71.33 163.70 126.63 6,925.44 546.70 3,918.91 251.28 6,186.69 4,425.02 14.52

+72.98 +10.29 +26.01 +2.11 +1.17 +5.28 +1.43 +51.83 +10.99 +108.08 +4.05 +96.62 +24.82 +0.22

TURNOVER

VALUE

968.847mil

RM930.312mil

Plantation counters, Sime Darby and Kuala Lumpur Kepong increased 20 sen each to RM6.40 and RM8.40 respectively and IOI Corporation added 12 sen to RM3.24. As for the heavyweights, MISC eased five sen to RM8.45, Public Bank added five sen RM8.65, Tenaga gained 15 sen to RM6.25 while Maybank dropped 10 sen to RM5.55. – Bernama

Scomi wins RM1.8b monorail job in Mumbai KUALA LUMPUR: Scomi Engineering Bhd has bagged a monorail contract in Mumbai, India worth RM1.846 billion under its unincorporated consortium with Larsen & Toubro Ltd (L&T). In its filing to Bursa Malaysia here yesterday, Scomi said L&T would be the consortium leader as the parties did not intend to incorporate a joint-venture company to undertake the project. L&T, a construction

company, has a successful track record as a builder of rail-related infrastructure project including the New Delhi Metro. The 19.5km monorail project commences from the southwest side of the city at Gadge Maharaj Chowk (Jacob Circle) heading northeast to Chembur. The deal involves the design, development, construction, testing and commissioning of the system including safety certification for commercial

briefs Mah Sing expects RM118m from Setapak project KUALA LUMPUR: Mah Sing Group Bhd expects its proposed StarParc Point project in Setapak to generate a total gross development value (GDV) of RM118 million. The project came about after its whollyowned subsidiary, Supreme Spring Sdn Bhd, acquired the exclusive rights to develop approximately 5.3 acres of prime freehold land from Link Mart Sdn Bhd for RM13 million in cash. The cash consideration will be paid in five progress payments based on specified milestones of development until the sub-division of land is obtained, Mah Sing said in a statement yesterday. “We plan to introduce new concepts to inject a fresh vibrancy into Setapak. That the land is in a prime location represents a coup for Mah Sing, especially in view of the favourable terms and with the surrounding area being mainly leasehold land,” said group managing director Datuk Seri Leong Hoy Kum. – Bernama

Green Rubber defers London listing KUALA LUMPUR: Green Rubber Inc, a subsidiary of the Petra Group, has deferred its listing on the London Stock Exchange

operations within 30 months from the date of issue of the letter of acceptance. The operation and maintenance of the system would be for three years after the commissioning of the system. Based on the Scomi Engineering’s scope of works, the value of the award is RM823.299 million. The monorail project is expected to contribute positively to the future earnings of the company, it said. – Bernama

(LSE) due to the liquidity crunch in the global markets. Petra Group founder/group chief executive, Datuk Vinod B. Sekhar, said the company would do so when the market was ready. “We are not in a rush for the listing. We will wait until second or third quarter next year before making any decision,” he told a media briefing on Green Rubber’s deal to supply footwear company, Timberland, with its revolutionary recycled rubber compound. The Petra Group owns 85% stake in Green Rubber, a tyre-recycling firm. Among its shareholders are Forbes vice-chairman Christopher Forbes and Hollywood stars Bruce Willis and Mel Gibson. – Bernama

IJM tipped to develop Kerala medical city KOZHIKODE (Kerala): A consortium comprising IJM Berhad and Malaysia Allied Health Science Academy College (MAHSA) is tipped to develop a medical city in Kerala once the state government gives its nod. The Kerala State Industrial Development Corporation and Malaysia’s Construction Industry Development Board, both parties of the consortium, are engaged in serious talks to ink the agreement for the RM433 million (US$120 million) project in Kinalur in Kozhikode City. “Malaysian companies have expressed interest to develop this project. “This is a good opportunity for our country to export the expertise we have and develop our own technical knowledge,” Works Minister Datuk Mohd Zin Mohamed, who visited the project site, told Bernama.