KDEB eyeing water treatment project in Sumatra

KUMPULAN Darul Ehsan Bhd (KDEB) plans to make its first overseas water-related venture through participation in a water treatment project in Sumatra, Indonesia. 

Its president Datuk Zabir Bajuri said the Indonesian venture would be facilitated by a memorandum of understanding (MoU) to be signed with the Riau government next month. 

He said the MoU would enable KDEB to form a joint-venture company with Indonesian investors to undertake projects in the country. 

“We expect to sign an agreement with the Riau government soon. The MoU is for us to establish rapport with local investors,” Zabir told reporters after a ceremony to ex- change some agreements between the company and the Selangor go- vernment with regard to the Langat II scheme. 

The RM5bil scheme is part of the southern region interstate water transfer project that involves the transfer of raw water from Pahang to Selangor. It is being developed in two phases, with each phase costing about RM2.5bil. The first phase starts next year and is due for completion in 2008. 

Zabir said KDEB was also looking at other water-related projects, including those in Sri Lanka, China and other Asia-Pacific countries. 

On another note, he said the listing of KDEB subsidiaries Kumpulan Perangsang Selangor Bhd and Kumpulan Hartanah Selangor Bhd, in place of Brisdale Holdings Bhd and SAP Holdings Bhd respectively, was expected to take place on July 22. 

The listing forms part of KDEB's merger exercise, which comprises the consolidation, rationalisation and streamlining of KDEB's property, infrastructure and utility businesses, to create two enlarged companies focusing on their core competencies. – Bernama  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Next In Business News

CPO futures close lower for second day
Syed Najib steps down as group CEO of Pos Malaysia
Azman Ahmad appointed OIC of FGV
Ringgit slips against greenback to end at 4.1160
New counter operating hours at EPF offices nationwide
Bursa closes broadly lower as 980 stocks in the red
Public Bank records 1Q net profit of RM1.53bil
MARC assigns stable outlook for Serba Dinamik’s RM1.5b debt papers
Moody’s changes outlook for global aviation industry to positive
Philippines joins Asean Collective Investment Schemes Framework

Stories You'll Enjoy