Malaysian Airline
System Bhd (RM1.04/share)
Firefly in talks to
buy new planes
Firefly chief executive officer Ignatius Ong said the
company is negotiating with several aircraft manufacturers to buy new planes to
fuel the community airlines’ robust expansion plans two years from now. He said
the airline was keeping its options open on the range of the aircraft, which
might be bigger in size from the turboprops the airline was currently using.
Currently, Firefly, a subsidiary of Malaysia Airlines (MAS)
operates 12 turboprops, all have been 80% utilised. On the number of aircraft
to be acquired, Ong said it all depends on the manufacturers and what the
market has to offer. – StarBiz
DRB-Hicom Bhd
(RM2.56/share)
Mohamed Razeek
appointed COO
DRB-Hicom Bhd has appointed Datuk Mohamed Razeek Md Hussain
as its chief operating officer - services and properties, effective September 1
2012. Group managing di rector Datuk Ser i
Mohd Khami l Jami l said Mohamed Razeek’s appointment came at an
opportune time as the company positions itself for continued growth while
managing the diversity of its business activities.
Mohamed Razeek served as the chief executive officer of
Malaysian Resources Corp Bhd (MRCB) for three years prior to joining DRB-HICOM.
He was responsible for steering MRCB towards operational, financial and
branding achievements and accolades. – Business Times
Kimlun Corp Bhd
(RM1.41/share)
Submits fresh tenders
Kimlun Corp Bhd has submitted fresh job tenders worth
“several hundred million” ringgit and is expecting to replenish its current
construction and manufacturing order book of RM1.8bil with these jobs. Chief
executive officer Sim Tian Liang said they expect some results within the next
three months and their track record is 20% of the tendered amount.
Kimlun, which derives 90% of its sales from the construction
sector and the remaining from the manufacture of concrete products has
year-to-date obtained some RM985mil worth of jobs. Sim added that they have
started diversifying into the property market as they have currently become a
bit reliant on the construction sector. The company in 2010 announced that it
had purchased 4.95 acres of land in Cyberjaya for RM14mil or RM65psf.
Kimlun also has plans to expand into the industrial property
market having recently purchased nine parcels of freehold agriculture land in
Nilai, Negeri Sembilan for RM27.4mil. The company intends to build industrial
buildings and factory units on this parcels of land to sell. – StarBiz
Rubber Gloves
Sector
Margma seeks tax
breaks for glove maker
Malaysian Rubber Glove Manufacturers Association (Margma)
has appealed to the government to accord tax breaks for glove makers who
aggressively re-invest to automate production lines and develop more innovative
gloves for use in the medical sector.
Margma president Lim Kwee Shyan said the government earlier
this year drastically cut approval permits
for foreign workers. In view of the difficulty in securing additional labour,
Lim said the association members are working diligently to mechanise their manufacturing
processes.
He highlighted that the industry is making a paradigm shift
from being a labourintensive to that of a high technology and knowledge-based
sector that is attracting more mechanical engineers and chemists. – Business
Times
Source: AmeSecurities
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