The Star Online: Business
The Star Online: Business |
- Govt to reveal winner of energy-efficient vehicles manufacturing licence by April
- CMSB extends slide on speculation of Taib Mahmud's resignation
- UMW-OG up after awarding job to Keppel
| Govt to reveal winner of energy-efficient vehicles manufacturing licence by April Posted: 06 Feb 2014 08:00 AM PST KUALA LUMPUR: The Government will announce the decision to award manufacturing licences for the production of energy-efficient vehicles (EEVs) to a foreign company in the next two months, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed. "There has been some interest from some very major automotive players, and within two months, I will be making an announcement on what manufacturing licences we are approving to one international company to manufacture EEV cars in Malaysia, in particular (for) the export market," Mustapa said at a speech yesterday. "This is the impact the National Automotive Policy (NAP 2014) has created on the industry," he added at the launch of the NAP 2014 Roadmaps media announcement. Announced in January, the NAP 2014 aims to turn Malaysia into an EEV hub in Asean, where the local production of hybrids and electric vehicles would be promoted within the country. Meanwhile, the Government, via the Malaysia Automotive Institute along with Arca Corporation Sdn Bhd, AutoCRC Ltd and Swinburne University of Technology, signed and exchanged a memorandum of understanding (MoU) for the development and manufacturing of electric buses, lithium ion batteries and the Public Transportation Information System for fleet management. According to Arca's executive chairman Datuk Che Azizuddin Che Ismail, the project would involve an initial capital of RM200mil for the technology acquisition and the setting up of a manufacturing plant towards this end. The MoU is an extension of the existing cooperation between Malaysia and Australia under the Malaysian-Australian Free Trade Agreement, which will see cooperation in the areas of research and development and eventual commercialisation, with the aim of adopting such busses first in Putrajaya and Langkawi before expanding to other parts of the country and the region. |
| CMSB extends slide on speculation of Taib Mahmud's resignation Posted: 06 Feb 2014 06:56 PM PST KUALA LUMPUR: Shares of Cahya Mata Sarawak Bhd (CMSB) extended the decline on Friday on speculation about Tan Sri Taib Mahmud resigning as the Chief Minister. At 10.43am, CMSB was down 37 sen to RM6.65. Turnover was 326,500 shares done. It has fallen from a high of RM7.42 on Feb 2. The FBM KLCI rose 7.06 points to 1,804.96. Turnover was 627.92 million shares valued at RM464.69mil. There were 362 gainers, 153 losers and 283 counters unchanged. |
| UMW-OG up after awarding job to Keppel Posted: 06 Feb 2014 06:17 PM PST KUALA LUMPUR: UMW Oil & Gas (UMW-OG) shares rose as investors were positive about its plan for a rig vessel as it seeks to expand its drilling operations. At 10.11am on Friday, UMW-OG jumped 13 sen to RM4.29 with 1.72 million shares done between RM4.17 and RM4.29. The FBM KLCI was up 6.31 points to 1,804.21. Turnover was 503.82 million shares valued at RM342.98mil. There were 316 gainers, 131 decliners and 262 counters unchanged. UMW-OG awarded a US$218mil contract to Keppel Corporation Ltd's subsidiary Keppel FELS Ltd for the design, engineering and construction of the rig vessel KFELS B Class jack-up rig. Maybank KE Research believes the fleet expension exercise is positive and timely. "The price tag of US$218mil is relatively higher than the US$205mil-US$210mil price range for the standard KFELS B Class rigs orders in 2013," it said. Financially, Maybank KE said its balance sheet allows UMW-OG capacity to grow. The research house has maintained a Buy call with a target price of RM4.80 for the group. |
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