Benalec, Salcon abort talks on Tg Piai project

Benalec Holdings' subsidiary Spektrum Kukuh Sdn Bhd began reclamation works for Phase 1 of the Tanjung Piai Integrated Petroleum and Petrochemical Hub and Maritime Industrial Park in Johor in December 2015.

PETALING JAYA: Benalec Holdings Bhd and Salcon Bhd have called off talks on the proposed water supply and sewerage treatment infrastructure in the 1,411-ha Tanjung Piai Integrated Petroleum and Maritime Industrial Park (TPIPMIP) in Johor.

The memorandum of understanding (MoU), signed by their units in August last year, was aimed at forming the framework geared towards exploratory efforts for establishing the water infrastructure.

However, the MoU has lapsed, the marine engineering firm told Bursa Malaysia on Thursday, adding that “the parties have no intention of extending the validity of the MoU”.

Benalec said it had recently appointed a water infrastructure consultant and was in the midst of finalising the water infrastructure design for TPIPMIP.

“Once the design is finalised and approvals have been obtained from the relevant authorities, Benalec will then engage engineering companies to commence construction works,” it added.

According to Benalec, there is no financial impact and obligation on the company regarding the terminated talks.

Benalec’s indirect unit Tanjung Piai Maritime Industries Sdn Bhd had entered into the MoU with Salcon Engineering, a leading water and wastewater engineering company in Asia, in August last year. The contract was initially expected to be concluded within six months.

Incidentally, just two months ago, Benalec had announced that the Department of Environment had approved reclamation works for the remaining two phases (Phase 2 and Phase 3) of the 1,411-ha TPIPMIP project in Johor.

Benalec shares fell one sen to close at 43 sen on Thursday, while Salcon shares slid one sen also to 63 sen.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

U.S. weekly jobless claims edged lower last week
Govt channels RM20.94bil for wage subsidy programme as at July 29
Yinson inks MoU with Cyberview to develop smart mobility ecosystem in Cyberjaya
Bursa Malaysia onboards CGS-CIMB, Kenanga IB for shariah-compliant trading
Sunway REIT's outlook remains optimistic
Ringgit eases further as risk-off mode remains after Fed’s minutes
Gas Malaysia 2Q net profit surges 72%, declares 5.9 sen dividend
Dialog 4Q net profit drops 14% to RM118mil
AME Elite to develop industrial park in Penang with GDV of RM1bil
Bursa Malaysia ends lower for second consecutive day

Others Also Read