DRB-Hicom Bhd
(RM2.46/share)
Unit partners German
firm
DRB-Hicom Bhd’s unit has teamed up with Germany’s HBPO GmbH
to design, develop and supply front-end modules for vehicle original equipment
manufacturers. DRB-HICOM said in a statement that its wholly-owned subsidiary,
Hicom Polymers Industry Sdn Bhd and HBPO, had formed a joint venture company
called Hicom HBPO Sdn Bhd. It said Hicom HBPO will be able to introduce new
modular automotive engineering products not only to the group’s stable of
manufactured components, but also other original equipment manufacturers. This
cooperation will also be extended to other Asean countries as both parties plan
to expand their footing in the region. – Business Times
AirAsia Bhd
(RM3.39/share)
Said close to major
deal with Airbus
AirAsia Bhd is putting finishing touches to a deal to buy up
to 100 Airbus jets, ending a flirtation with Canada’s Bombardier and putting
Asia’s largest budget carrier on course for regional expansion, sources
familiar with the matter said last Friday. The deal for A320-family jets,
potentially worth about US$9bil (RM28bil), is designed to fuel the growth of
what is fast becoming a cluster of related airlines under Tan Sri Tony
Fernandes, who placed a record order for 200 Airbuses last year. Demand from
Asian low-cost carriers is helping to drive production at Europe’s Airbus and
US rival Boeing to record levels, shielding aerospace workers from recession. Talks
are at the final stage but the Airbus deal will not formally be ready in time
to be announced at this week’s Berlin Airshow, the sources said. AirAsia says
it still needs more of the existing generation of A320 to support ambitious
short-term plans, which include expansion in the Philippines, Indonesia and
Japan. – Business Times
Building Materials
Sector
Terengganu awards
Bukit Besi iron ore concession to Perwaja
Perwaja Holdings Bhd’s almost one-year wait to secure an iron ore mining concessionaire has finally
ended with the official award of a 243ha concession in Bukit Besi by the
Terengganu government, said a source close to the group. He said the concession
would enable Perwaja’s unit Perwaja Steel Sdn Bhd to mine iron ore under a
mining lease which would be subject for renewal every 10 years, up to 42 years.
In terms of the concession area, the size was similar to the previous one
awarded last year to Eastern Steel Sdn Bhd, a joint venture (JV) between Hiap
Teck Ventures Bhd, China Shougang and Chinaco Investment Pte Ltd. To date,
companies reported to be vying for iron ore mining rights in Terengganu include
Lion Group and a JV group comprising
Takaso Resources Bhd and Terengganu-state owned timber company Golden
Pharos Bhd. For economies of scale, potential investors in iron-ore mining
operations should be given 500ha or more with a lease of at least 10 years, the
source pointed out. The cost of mining iron ore locally is estimated at US$50
per tonne versus the traditional cost of importing the iron ore raw material by
steel millers at about US$100 to US$120 per tonne. - StarBiz
Source: AmeSecurities
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