Media Highlights : Petronas capex may hit RM275bn, Transmile appeals against delisting, Carmaker may export Malaysia-assembled Mazda3, RM105m for Naza-Peugeot Asean project, SP Setia buys Cyberjaya land for RM420m, Uzma secures RM200m Petronas contract

Petronas capex may hit RM275bn
Petroliam Nasional (Petronas) expects to spend up to a whopping RM275bn as its capital expenditure (capex) for the next five years, its chief says. The average capex of RM50bn to RM55bn a year is higher than what Petronas traditionally spent, which was around RM30bn to RM40bn a year. Petronas, which announced its third-quarter results in Kuala Lumpur yesterday, said it expects net profit for the year ending March 2011 to breach RM90bn. The higher capex is essential to cope with rising costs, upgrade asset integrity, enhance yield of existing or legacy assets, drive growth and venture into more challenging and green field plays such as enhanced oil recovery, deep-water and unconventional hydrocarbons. (Business Times)

Transmile appeals against delisting
Transmile Group has submitted an application to Bursa Malaysia to appeal against the latter's decision to delist the company, and to seek an extension of time to submit its regularisation plan. Transmile was supposed to submit the plan to the Securities Commission or Bursa Malaysia for approval by 22 Feb. On 23 Feb, the company told Bursa that it had until 2 March to submit an appeal to the latter. Meanwhile, the trading of Transmile shares will be suspended effective from March 2011 but the removal of the securities from the official list of Bursa Securities on 7 March will be deferred, pending the decision on the appeal. (StarBiz)

Carmaker may export Malaysia-assembled Mazda3
Mazda Motor Corp, which is upbeat on sales growth in Malaysia, is considering exporting locally-assembled Mazda3 to the region in the future. Managing executive officer and general manager (overseas sales division) Yuji Nakamine said the sales and production expansion in Malaysia and other Asean markets is part of Mazda's mid-term initiatives to achieve 1.7m unit sales in five years' time. He said currently, the assembly of Mazda3 CKD (completely knocked down) units in Malaysia is for the local market. "But, in the future, if we have good operations here, increase in localisation, reduction in cost and improvement in quality, we may have an opportunity to export from Malaysia (Business Times)

RM105m for Naza-Peugeot Asean project
Naza Group, together with French partner automotive giant Peugeot, will soon commit more than RM100m to their programme in Asean. Code-named the "Asean Project", it aims to introduce at least one new Peugeot model a year until 2015. It is learnt that Naza, through its Peugeot franchise holder Nasim SB and Naza Automotive Manufacturing SB (NAM), will spearhead the project. A source close to the project revealed that the programme will involve the manufacture and assembly of several new models that may include a sports utility vehicle for the Asean market to complete the Peugeot vehicle line-up from 2013 onwards. "The move is in line with Naza's five-year continuity plan with Peugeot and is estimated to involve about RM105m of investment over the period. "This new direction will see at least 60,000 units of cars, including the C-segment T73 sedan, being rolled out of NAM's plant in Gurun, Kedah, for the next five years beginning next year," the source told Business Times. (Business Times)

SP Setia buys Cyberjaya land for RM420m
Property developer SP Setia Bhd has bought 108.5ha of prime freehold land in Cyberjaya's flagship zone for RM420.4m from Setia Haruman SB. The land will be developed as Setia Eco Glades project by Setia Eco Villa, a joint-venture company between SP Setia which holds 70%, and Setia Haruman, 30%. SP Setia president and chief executive officer Tan Sri Liew Kee Sin said the project would be a mixed residential and commercial development. “It is expected to have a gross development value of RM3bn,” he told a press conference after a signing ceremony between SP Setia and Setia Haruman. (Business Times)

Uzma secures RM200m Petronas contract
Uzma’s subsidiary, Uzma Engineering SB, has been awarded a contract estimated at RM200m with Petronas. Its unit now has secured a long term service agreement to provide a low pressure system (LPS) for Petronas’ domestic upstream operations. (Financial Daily)