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CLOSE to three years after the much-hyped mega-merger that created the world's largest listed plantation company, the unthinkable has happened. Instead of creating value, value has been destroyed. Massive write-downs from engineering projects gone awry, from a cost standpoint, has hurt the giant. If not for the huge earnings from its core business of plantations, Sime Darby could easily have been crushed by the size of these write-offs, totalling some RM1.9bil since 2004. That's more than half of Sime Darby's group profits for FY2009.
KUALA LUMPUR: Pantech Group Holdings Bhd, a pipes, fitting and flow-control products manufacturer, expects its manufacturing division revenue to increase by 50% when its new plant in Pasir Gudang, Johor, commences operation by year-end.
KUALA LUMPUR: The private sector will drive the Economic Transformation Programme (ETP) with US$37bil (RM118bil) worth of projects expected to commence by the end of this year.
UNIVERSITI Malaysia Sarawak (Unimas) will present the results of a study on the manpower requirements of the Sarawak Corridor of Renewable Energy (Score) to Chief Minister Tan Sri Abdul Taib Mahmud on Sept 16.
THE reality of the Sarawak Corridor of Renewable Energy (Score) development has apparently sunk in among students in Kuching.