Barefoot Investor: Media Highlights : MAS confident of continuing to rise despite escalating fuel price, Privasia to focus on merger & acquisitions, SP Setia plans RM2.8bn projects, Scomi and partners bag RM2.6bn Brazilian monorail deal, Celcom signs broadband deal with TM...

MAS confident of continuing to rise despite escalating fuel price

Malaysia Airlines (MAS) recorded an 18% higher international pre-load this year compared with 2010. Overall,, when combined with the domestic sector, its pre-load factor was up 10% compared with last year, said senior general manager (sales and marketing) Datuk Bernard Francis. He was confident the pre-load factor would continue to rise despite escalating fuel prices, which are affecting travellers in terms of fuel surcharges. Load factor for 3Q (July to September 2010) was 79% - its highest seat factor in 15 years, and for the last quarter of 2010 it was 77.4%. For 2010 it was 76.2% and the airline added 4% new capacity. For 1Q of 2011, load factor was at 76% and new capacity added during the period was 11% from a year ago. (StarBiz)

Privasia to focus on merger & acquisitions

Information and communications technology company Privasia Technology Bhd plans to focus more on merger and acquisition-based expansion instead of looking for new projects in 2011 following its strong orderbook value to date. Its chief executive officer Puvanesan Subenthiran said Privasia’s balance sheet continued to improve with financial flexibility to gear up for M&A - based expansion plans.(Malaysian Reserve)

SP Setia plans RM2.8bn projects

SP Setia will redevelop the Sri Johor, Sri Pulau Pinang and Sri Melaka low-cost apartments and the Taman Ikan Emas low cost homes in Bandar Tun Razak, Cheras at a total development value of RM2.8bn. Its deputy president and CEO Datuk Voon Tin Yow said the first phase of the project would take off next month. Urban Wellbeing Minister Datuk Raja Nong Chik said the first phase of the project would involve the development of affordable, quality homes totalling 1,255 units. These would be completed in three years. He said SP Setia would also undertake an apartment housing project in the area for young executives, with each unit to cost not more than RM300,000 and with a built-up areas of at least 800 sq ft. (StarBiz)

Scomi and partners bag RM2.6bn Brazilian monorail deal

Scomi Engineering and its consortium partners have clinched a RM2.6bn contract to build a monorail line in Sao Paulo, Brazil. The Sao Paulo Metropolitan Co in Brazil awarded the design, manufacture, supply and implementation job of the 18-km monorail Line 17 - Gold Metro of Sao Paulo to Consortium Monotrilho Integracao last Thursday, following an international competitive tender process. The consortium consists of Scomi Engineering, Andrade Gutierrez S.A., CR Almeida S.A. Engenharia de Obras and Montagens e Projetos Especiais SA. The contract will include the supply of 24 car train sets comprising three cars each. The monorail will be able to carry some 252,000 passengers per day. It will run through 18 stations from Jabaquara to Sao Paulo-Morumbi. The project will kick off next month and should be completed in three-and-a half years. (StarBiz)

Celcom signs broadband deal with TM

Axiata Group said its wholly-owned unit Celcom Axiata has entered into a HSBB services agreement with Telekom Malaysia (TM). The deal is for the supply, delivery, installation and commissioning of access services related to HSBB for Celcom Mobile's utilisation. The company said that the agreement came following a memorandum of understanding between Celcom and TM on strategic collaboration in providing fixed and mobile solutions earlier this year. Under the agreement, Celcom Mobile will also grant TM its mobile virtual network operator services. (StarBiz) Please see accompanying report

Mudajaya unit gets letter of intent for RM720m sub - con job at Manjung plant

Mudajaya Group Bhd’s unit Mudajaya Corporation has been given a letter of intent to design and build a component of the Manjung power plant for a sub-contract valued at RM720m. In a filing to Bursa Malaysia Securities on Friday, Mudajaya said Mudajaya Corp was the given the letter on 2 June by CMC Machipex SB to build the balance of plant component of Manjung No. 4 Power Plant Project. It said Mudajaya Corp was authorised to start mobilisation on 6 June to undertake the advanced sub-contract works as well. Mudajaya said the execution of the sub-contract would be subject to the conclusion of the terms and conditions of the contract and the approval from the parent company of CMC. (Financial Daily)

Century Software gets RM22.53m job from Ministry of Finance

Century Software Holdings Bhd’s unit Century Software (M) SB has been awarded a RM22.53m contract by the Ministry of Finance to implement an online budget system. In a statement last Friday, Century Software said the contract was for a period of ten months from June 2011. It said the contract was expected to contribute positively to its earnings for the financial year ending 31 Dec 2011. “This prestigious contract is a pioneering and first of its kind project in Malaysia to be implemented by 24 government Ministries. “This significant contract would propel Century Software as a leading provider of world-class financial system services within the Asean region,” it said. (Financial Daily) Please see accompanying report

Eversendai will use the RM270m from its IPO for capital expenditure

The flotation of Eversendai Corp Bhd on the Main Market of Bursa Malaysia on 1 July will raise RM270m for the company. Its founder Datuk A.K. Nathan will realise a gain of RM130m for selling 30% of the company he pioneered 27 years ago. Nathan said in an interview with Starbiz that the company would use the proceeds of RM270m from its share sale as capital expenditure. " We will be using the proceeds to build a new plant in Trichy in India and expand our plant facilities in Rawang. We would also be using the funds to build staff accommodation in the Middle East, '' he said. He added that the choice of Trichy over other locations in India was made because it was easier to get skilled manpower for the plant there. Eversendai has four plants that provided all the fabrication works for its projects that span from Malaysia to India and the Middle East. The plants are located in Rawang, Dubai, Sharjah and Qatar. The new plant in India will have a 30,000-tonne - a - year fabrication capacity. (StarBiz)


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