News in brief

  • Business
  • Thursday, 06 Dec 2007

Bina Darulaman gets IKBN project 

KUALA LUMPUR: Bina Darulaman Bhd has secured a RM63.4mil contract from the Works Ministry to build the Institut Kemahiran Belia Negara (IKBN) at Pedu, Kedah. 

The date of site possession was Dec 19 and the project expected to be completed in December 2009, the company said in a statement to Bursa Malaysia. 

It added that the contract was on a design and build basis. – Bernama 

CIDB-led group wins job in Syria 

KUALA LUMPUR: A Construction Industry Development Board Malaysia (CIDB)-led consortium has won a 42.2 million euro (RM207.2mil) project to upgrade the international airport in Damascus, Syria. 

The contract would involve the rehabilitation and upgrading of passenger terminal building, car parks and parking apron of the airport, CIDB chairman Tan Sri Jamilus Hussein said at a media luncheon here.  

The letter of acceptance was expected to be signed with the Syrian government this week and work on the project would follow immediately, he said. 

The Exim Bank of Malaysia will provide the financing for the project, which will see the upgrading of the airport to cater to the influx of passengers during the Arab Summit scheduled in March next year. 

Muhibbah Engineerng (M) Bhd will be the design and build contractor while KLIA Consult Sdn Bhd will be the consultant for the project. – Bernama 

BCHB unit to sell SEA Bank stake  

KUALA LUMPUR: Bumiputra-Commerce Holdings Bhd's (BCHB) investment banking arm CIMB Bank Bhd has agreed to dispose of its 60% stake in SEA Bank to British American Investment Co (Mauritius) Ltd. 

BCHB told Bursa Malaysia it would announce further details of the disposal once terms and conditions had been finalised and a definitive agreement signed. 

The proposed disposal was in line with BHCB's strategy to divest its investments in non-core markets. 

SEA Bank presently has six branches throughout Mauritius. – Bernama 

WTK buys logging firm for RM33mil 

KUALA LUMPUR: WTK Holdings Bhd unit Piramid Intan Sdn Bhd has signed a conditional share sale agreement with Datuk Wong Kie Nai and Othman Salled to buy Interglobal Empire Sdn Bhd for RM33mil. 

WTK said in a statement that Interglobal had a logging licence for a 63.89ha timber concession at the upper reaches of the Rajang River in Kapit, Sarawak, for another 14 years until Dec 5, 2022. 

The purchase will enable the WTK group to replenish its long-term source of timber supply and to sustain its downstream timber division. – Bernama 

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