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Genting Plantations’ FY18 net profit falls to RM164.89 mln

KUALA LUMPUR, Genting Plantations Bhd’s net profit fell to RM164.89 million in the financial year ended Dec 31, 2018, from RM335.09 million chalked up in 2017.

Revenue rose five per cent to RM1.9 billion from RM1.81 billion previously, the company informed Bursa Malaysia today.

Revenue improved on account of the higher off take of biodiesel and refinery products from the downstream manufacturing segment along with progressive completion of works by the property segment.

Source: BERNAMA News Agency

Acquisition of highway concessions to take 6 months

PUTRAJAYA, The government expects to take about six months to acquire the toll concessions for four main highways — Damansara Puchong Expressway (LDP), Western KL Traffic Dispersal System (SPRINT), Shah Alam Expressway (Kesas) and Stormwater Management and Road Tunnel (SMART).

Finance Minister Lim Guan Eng said the projected length of time was needed to meet regulatory, financial and legal requirements.

The takeover of the highways must be carried out at a fair and reasonable price, he told a media conference at his ministry here today to announce that the start of operation of the official website for the mySalam insurance scheme.

Source: BERNAMA News Agency

Selangor to expand MRO segment

PETALING JAYA, Selangor is expanding its maintenance, repair and overhaul (MRO) sector in a bid to establish itself as the aerospace and aviation industry’s gateway to Asian countries, says Menteri Besar Amiruddin Shari.

The state is currently in talks with international companies for the relocation of some of their operations to Selangor, including around Subang Airport, Serendah and KLIA, Sepang, he said.

Thirty per cent of the aerospace and aviation activities and demand are coming from the Asia Pacific region, and have been growing fast over the last 10 years.

On the other hand, worldwide production of aircraft is only at appropriately 600 units per year. There are more than 10,000 aircraft orders which are now pending, not to mention the MRO activities, even to the point of scrapping or tearing down Boeing 737, 757, 767 and 747 planes as well as Airbus A300, he said in his speech during the Selangor Aerospace Action Plan town hall session here today.

Amiruddin said the supply chain of aircraft parts and MRO is a huge business that the state could and would be willing to share.

We have Selangor citizens who are working in the MRO segment and manufacture of aircraft parts, and they are working with major aerospace brands and aviation companies in many parts of the world including Emirates, Singapore Airlines, Cathay Pacific and even Airbus itself, not forgetting in the areas of military MRO and manufacturing for parts of craft, he said.

He also said that the state plans to have a fully integrated logistics system for the aviation and aerospace industry, using the Internet of Things to put in place a value-added manufacturing system and provide a more conducive ecosystem for investors.

Selangor is also strategically planning towards a future of robotics, the menteri besar explained.

The aerospace and aviation arena is not just about commercial aircraft or defence but also about drones and air taxis, which I believe would be in the market next year, he said.

Selangor has been the main hub for Malaysia’s aerospace and aerospace industry, with 62 per cent of Malaysia’s aerospace players located in the state.

Amiruddin earlier today witnessed the signing of a memorandum of understanding between UMW Development Sdn Bhd and Invest Selangor to facilitate discussions leading to the marketing and promotion of the UMW High Value Manufacturing Park in Serendah.

The park, located next to an automotive manufacturing facility, consists of 861 acres (348.4 hectares) of land with supporting commercial development planned for the northern part of the site.

Source: BERNAMA News Agency

Selangor to expand MRO segment

PETALING JAYA, Selangor is expanding its maintenance, repair and overhaul (MRO) sector in a bid to establish itself as the aerospace and aviation industry’s gateway to Asian countries, says Menteri Besar Amiruddin Shari.

The state is currently in talks with international companies for the relocation of some of their operations to Selangor, including around Subang Airport, Serendah and KLIA, Sepang, he said.

Thirty per cent of the aerospace and aviation activities and demand are coming from the Asia Pacific region, and have been growing fast over the last 10 years.

On the other hand, worldwide production of aircraft is only at appropriately 600 units per year. There are more than 10,000 aircraft orders which are now pending, not to mention the MRO activities, even to the point of scrapping or tearing down Boeing 737, 757, 767 and 747 planes as well as Airbus A300, he said in his speech during the Selangor Aerospace Action Plan town hall session here today.

Amiruddin said the supply chain of aircraft parts and MRO is a huge business that the state could and would be willing to share.

We have Selangor citizens who are working in the MRO segment and manufacture of aircraft parts, and they are working with major aerospace brands and aviation companies in many parts of the world including Emirates, Singapore Airlines, Cathay Pacific and even Airbus itself, not forgetting in the areas of military MRO and manufacturing for parts of craft, he said.

He also said that the state plans to have a fully integrated logistics system for the aviation and aerospace industry, using the Internet of Things to put in place a value-added manufacturing system and provide a more conducive ecosystem for investors.

Selangor is also strategically planning towards a future of robotics, the menteri besar explained.

The aerospace and aviation arena is not just about commercial aircraft or defence but also about drones and air taxis, which I believe would be in the market next year, he said.

Selangor has been the main hub for Malaysia’s aerospace and aerospace industry, with 62 per cent of Malaysia’s aerospace players located in the state.

Amiruddin earlier today witnessed the signing of a memorandum of understanding between UMW Development Sdn Bhd and Invest Selangor to facilitate discussions leading to the marketing and promotion of the UMW High Value Manufacturing Park in Serendah.

The park, located next to an automotive manufacturing facility, consists of 861 acres (348.4 hectares) of land with supporting commercial development planned for the northern part of the site.

Source: BERNAMA News Agency

BrandSafway acquires Century Elevators to raise Gulf Coast capabilities

KUALA LUMPUR, BrandSafway acquired Century Elevators, the leading rack and pinion elevator specialist in North America to expand motorised capabilities and offer a full suite of access technologies throughout the Gulf Coast region, effective Feb 22.

According to a statement, Century Elevators will operate as Century Elevators by BrandSafway, an independent business under the BrandSafway.

Century Elevators provides construction and industrial elevators, material hoists, and transport platforms in the region and beyond. It is also the exclusive distributor of PEGA Hoist Ltd products throughout North America and BAlcker Maschinenwerke GmbH equipment in the United States.

With the outstanding experience and expertise Century Elevators offers in custom elevator and motorised access solutions, we can deliver excellent services to our customers, said BrandSafway’s Energy and Industrial president, Dave Witsken.

Headquartered in Webster, Texas, Century Elevators – located within the southeastern Houston metro area – has diversified experience in industries such as oil and gas, petrochemical, mining, power, commercial construction, infrastructure and transportation.

With its global footprint, rigorous operating processes and extensive service offerings, BrandSafway provides the broadest range of services, products and solutions with the greatest depth of expertise to the industrial, commercial and infrastructure markets.

Source: BERNAMA News Agency

Bumi contractors should be given chance to partake in mega projects

KUALA LUMPUR, The Malaysian Bumiputera Contractors Association is urging the government to give Bumiputera contractors an opportunity to partake in mega infrastructure projects in the country and simultaneously contribute to the nation’s development.

Association president Datuk Mokhtar Samad said there was an estimated 2,646 G7 grade Bumiputera contractors who are innovative, financially strong and had ideas on how to implement mega projects for Malaysia.

“Bumiputera contractors are in dire straits now as less and less projects are being offered to them and the association is hoping the government will not sideline them but give them due attention, he told Bernama when asked to comment on the current status of Bumiputera contractors.

A quick check with the Construction Industry Development Board (CIDB) website and several other sites revealed that there were hundreds of competent Bumiputera contractors and they were involved in various major projects.

Source: BERNAMA News Agency

Bumi contractors should be given chance to partake in mega projects

KUALA LUMPUR, The Malaysian Bumiputera Contractors Association is urging the government to give Bumiputera contractors an opportunity to partake in mega infrastructure projects in the country and simultaneously contribute to the nation’s development.

Association president Datuk Mokhtar Samad said there was an estimated 2,646 G7 grade Bumiputera contractors who are innovative, financially strong and had ideas on how to implement mega projects for Malaysia.

“Bumiputera contractors are in dire straits now as less and less projects are being offered to them and the association is hoping the government will not sideline them but give them due attention, he told Bernama when asked to comment on the current status of Bumiputera contractors.

A quick check with the Construction Industry Development Board (CIDB) website and several other sites revealed that there were hundreds of competent Bumiputera contractors and they were involved in various major projects.

Source: BERNAMA News Agency