Business

PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) has been awarded a contract for the Kasawari Gas Development project. MHB told Bursa Malaysia that its wholly owned subsidiary Malaysia Marine and Heavy Engineering Sdn Bhd had received the contract from Petronas Carigali Sdn Bhd to undertake the engineering, procurement, construction, installation and commissioning (EPCIC) works for the Kasawari project. The EPCIC contract includes the construction of 47,000 tonnes of central processing platform (CPP), 8,600 tonnes of wellhead platform (WHP) and a flare structure, together with two bridges linking the CPP to the WHP and the flare structure. The contract also involves the transportation and installation of an 85-kilometres pipeline linking the Kasawari CPP to the existing E11R-A platform. … [Read more...] about MHB bags Kasawari Gas deal from Petronas

PETALING JAYA: GDB Holdings Bhd is acquiring a 70% stake in Eco Geotechnics Sdn Bhd for RM5.96 million. The construction services firm said in a filing with the stock exchange that its wholly owned subsidiary Grand Dynamic Builders Sdn Bhd had entered into a share sale agreement with Goh Eng Ngai, Tan Loo Loo and Wong Choo Keong for the purchase. Founded in 2011, Eco Geotechnics is a construction contractor specialising in major geotechnical and foundation engineering works. To date, it has successfully delivered more than RM240 million worth of piling and foundation works for construction and property development firms. GDB said the proposed acquisition will enable the group to benefit from Eco Geotechnics’ bored piling and foundation works speciality, strengthen its competitive edge as an integrated builder, and create opportunities to expand its customer base. “The proposed acquisition will also enhance the group’s prospects when tendering for jobs which involve … [Read more...] about GDB buys 70% of Eco Geotechnics

Business United Technologies Corp reported better-than-expected quarterly earnings and raised its full-year sales and profit forecasts on Tuesday, driven by an increase in demand for aircraft parts and spares. 23 Jul 2019 08:50PM Bookmark REUTERS: United Technologies Corp reported better-than-expected quarterly earnings and raised its full-year sales and profit forecasts on Tuesday, driven by an increase in demand for aircraft parts and spares.UTC, which makes the Pratt & Whitney aircraft engines and is on track to spin off its Otis elevator and Carrier air conditioner units, is seeking to bolster its defense offering amid rising U.S. government spending.The company last month announced a US$121 billion merger of its aerospace units with weapons maker Raytheon Co , which mainly supplies the U.S. government with military aircraft and missile equipment.UTC said sales in its Collins aerospace unit, its biggest, surged about 66per cent percent to US$6.58 billion in the … [Read more...] about United Tech profit beats on higher demand for aircraft parts

PETALING JAYA: ARB Bhd has entered into two memorandum of agreements (MoAs) for the provision of water supply-related technology with a combined value of around RM800 million. The company said in a statement that the MoAs were entered with Hangzhou Mayam IoT Tech Co Ltd and Shuifa IoT Tech Co Ltd for the project value of RM200 million and RM600 million, respectively. For the MoA with Hangzhou Mayam, it involves a strategic partnership to deploy smart water meters in Malaysia to measure, collect and analyse real-time water consumption information and data, including water leakages, water pressure, date and time of water consumed households. For the collaboration with Shuifa, it involves the installation of smart household water filtration system that can be supplied to the public and individuals. … [Read more...] about ARB bags two water contracts worth RM800m

PETALING JAYA: Berjaya Corp Bhd (BCorp) has denied that its executive chairman Tan Sri Vincent Tan will fly to Japan early next month to sign a distributorship agreement with Suzuki Motor Corp. “BCorp wishes to clarify that this statement is not true at all. The board of directors of BCorp is also not aware of and has not deliberated on the arrangement,” BCorp said in a statement today. A local English daily reported that Berjaya group will bring back Suzuki brand, which exited the Malaysian market three years ago. Suzuki was last represented in Malaysia by DRB-Hicom Bhd through a joint venture Suzuki Malaysia Automobile Sdn Bhd. … [Read more...] about Berjaya Corp denies Suzuki signing