Thesun 2009-02-11 Page15 Scomi To Earn Rm120m From Monorail O&m

theSun

15

| WEDNESDAY FEBRUARY 11 2009

business

Scomi to earn RM120m from monorail O&M MUMBAI: Scomi Engineering Bhd is set to earn an additional RM120 million in revenue when it begins the operations and maintenance (O&M) works on the Mumbai monorail project, which the company is currently building. Working together with its consortium partner Larsen & Toubro Ltd, the 19.5km project, is expected to be completed by 2010. It will cost RM1.85 billion. “We have a three-year, separate O&M contract amounting to RM40 million annually. There is also an option to renew for another two years. “This is additional revenue for us,” Scomi chief executive officer Shah Hakim Shahzanim Zain told reporters.

Scomi would provide the design and integration for the project, while Larsen & Toubro would be responsible for infrastructure construction, ticketing and power supply. This is Scomi’s maiden overseas project. “Our ambition is to be a world leader in this particular field. It will enhance the company’s Malaysian image and make us an international brand,” Shah Hakim said. Rating India as one of Scomi’s priority market, he said the company is weighing project opportunities in other highly populated cities like Ahemdabad, Bangalore, New Delhi, Pune and Patna. – Bernama

AirAsia offers 500,000 free seats KUALA LUMPUR: AirAsia, the largest low-cost carrier in Asia, is offering 500,000 free seats to holiday destinations in Southeast Asia, China and Australia. “This campaign is an important impetus to boost tourist numbers and spread the economic benefits brought on by tourism,” its regional head of commercial, Kathleen Tan, said in a statement yesterday. She said with the ongoing expansion of its fleet, opening of new routes and addition of flight frequency, AirAsia

is best positioned to cater to the growing interest in regional travel. AirAsia’s newest promotion gives away free seats to destinations like Bali, Bangkok, Gold Coast, Haikou, Hangzhou, Ho Chi Minh, Hongkong, Jakarta, Kota Kinabalu, Langkawi, Kuala Lumpur, Kuching, Melbourne, Perth, Phuket, Shenzhen, Siem Reap, Singapore and Yogyakarta. The free seats are available for bookings made from Feb 10 to 15 for travel from Oct 12, 2009, to Jan 31, 2010.

CIMB chief hails mini-budget KUALA LUMPUR: CIMB Group chief executive Datuk Seri Nazir Abdul Razak, who welcomes the government’s decision on a mini-budget, said the government should consider setting some direction in terms of strategy under the current economic situation. “Perhaps some incentives in certain direction and measures will be useful in this climate,” he told reporters on the sidelines of Bank Negara Malaysia’s High Level Conference 2009 here yesterday. Nazir said the government’s plan to introduce a mini-budget was a good move, being consistent with the change in environment since the last stimulus package. “The mini-budget is an additional larger expenditure. Beyond that, how to allocate it in an effective way to stimulate the economy and make very important decisions in terms of where the money should go,” he said. Deputy Prime Minister Datuk Seri Najib Abdul Razak last week announced that the cabinet had agreed for a mini-budget to be tabled at the next Parliament sitting. – Bernama