News in brief

  • KUALA LUMPUR: Sarawak Energy Bhd unit Sarawak Power Generation Sdn Bhd has awarded a power plant project worth RM346mil to China National Machinery and Equipment Import and Export Corp (CMEC). 

    Under the contract, CMEC will build a 110MW combined-cycle power plant in Bintulu, the company said in a stock exchange filing. – AFX-Asia 

  • KUALA LUMPUR: Reliance Industries Ltd, a leading energy and chemical group in India, will acquire Hualon Corp (M) Sdn Bhd, which is under receivership. 

    The acquisition, when completed, would be Reliance's second international acquisition in the polyester sector after the successful takeover of Trevira in Germany in 2004, Hualon receivers Ernst & Young Malaysia said in a statement. – Bernama 

  • PETALING JAYA: Tanjung Offshore Bhd’s wholly-owned subsidiary Tanjung Offshore Services Sdn Bhd has won a RM30mil contract to provide Carigali-PTTEPI Operating Co Sdn Bhd with a self-contained well-testing services vessel. 

    In a statement to Bursa Malaysia, Tanjung Offshore said the contract was for a primary duration of one year, effective September next year, with an option to extend for another year. The vessel would be used to carry out well cleaning and testing, the statement said. 

    Tanjung Offshore expects the contract to contribute positively to its earnings and net assets for the financial year ending Dec 31, 2008 and beyond. 

    For latest Bursa Malaysia indices, charts and other information click here





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