Thursday, June 28th, 2018
NEW YORK, June 28 — The US dollar dipped against a basket of currencies today as upbeat German inflation data prompted some traders to buy the euro and data showing the US economy slowed more than earlier estimated in the first quarter weighed on…
RIGA, June 28 — Ilmars Rimsevics, a member of the European Central Bank’s Governing Council, will face prosecution for bribery in Latvia, further tainting the nation’s reputation in a year that’s already brought US money-laundering…
SEPANG: Any proposal for a new low-cost carrier terminal (LCCT) to be developed at Kuala Lumpur International Airport (KLIA) must be resubmitted to the Transport Ministry, Minister Anthony Loke said today, and confirmed that one was made by Citaglobal Airports Sdn Bhd.
He was responding to a SunBiz report which detailed Citaglobal Airports' development plan for the new terminal last year, which had the backing of the AirAsia group, the largest user of klia2, a terminal built to replace the previous LCCT.
Documents sighted by SunBiz revealed that the company's director, Datuk Seri Mohamad Norza Zakaria, had proposed to then prime minister Datuk Seri Najib Abdul Razak, via a letter dated Nov 24, 2017, a new LCCT that would be able to accommodate higher passenger numbers, especially with the establishment of the Digital Free Trade Zone.
“They have to resubmit (any plans) to the new government and, of course, we will study.
“If there is fresh proposal we will study it, the ministry and the Malaysian Aviation Commission (Mavcom),” Loke told reporters after launching the FlySmart interactive platform here.
Loke said the proposal for a new LCCT was submitted to the Economic Council under the previous government.
“The decision by the Economic Council was to appoint Pemandu to study the feasibility of Terminal 3 (new LCCT) but, as of now, there is no decision yet. There was no approval given, it was just a study,” he said.
Citaglobal Airports was incorporated just weeks before the proposal for the new LCCT was presented to Najib in a letter. Citaglobal Airports said it would be able to generate the required funds for the project from the private sector and only required for land to be delineated by the government for the terminal's development.
In addition to that, it said UK-based Manchester Airports Group Plc indicated interest in managing and operating the new LCCT.
AirAsia Bhd issued a letter of support for the plan via a letter dated Nov 2, 2017 which coincided with Citaglobal Airports' incorporation date. The letter signed by executive chairman Datuk Kamarudin Meranun said it would support Citaglobal Airports by making the new LCCT the base for AirAsia Bhd and AirAsia X Bhd operations, have all flights operated by AirAsia group operate at the new LCCT and participate to generate non-aeronautical revenue.
PETALING JAYA: Icon Offshore Bhd has clinched several contracts with a total value of RM275 million.
The oil and gas service provider said it will provide offshore support vessels to oil and gas companies to support their production operations in Malaysian waters for RM169 million.
The long-term contracts are for a primary period of three years with an extension option of up to two years of one year each.
In a separate filing with the stock exchange, Icon Offshore said it had received a conditional award to provide two platform supply vessels to ExxonMobil Exploration and Production Malaysia Inc for its production operations for RM106 million. The contracts are inclusive of two optional extensions.
Icon Offshore expects these contracts to contribute positively to the group’s earnings, order book and net assets for the financial year ending December 31, 2018 and beyond.
Icon Offshore shares fell 4.2% to 11.5 sen today, on 3.4 million shares traded.
PETALING JAYA: Central Industrial Corp Bhd has clinched a RM71.55 million contract for the construction of a 30-storey SOHO building in Penang.
The group told Bursa Malaysia that Proventus Bina Sdn Bhd, a 51% owned subsidiary of its wholly owned subsidiary CIC Construction Sdn Bhd had on June 28 accepted the letter of award from Aspen Vision Builders Sdn Bhd.
The contract is expected to commence on July 2 and to be completed within 24 months.
Central Industrial said it will enlarge the group’s order book and provide a steady stream of revenue over the next two years.
PETALING JAYA: Crest Builder Holdings Bhd is selling a piece of land measuring about 1.189 hectares in Mont Kiara, Kuala Lumpur for RM34 million.
The group said its wholly owned subsidiary Nepfield Sdn Bhd had entered into a sale and purchase agreement with Sunrise Pioneer Sdn Bhd for the disposal.
Crest Builder is expected to realise a gain of RM15.24 million. The disposal proceeds will be used for working capital.
Its shares closed unchanged at 94.5 today on 29,200 shares done.
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NEW YORK, June 28 — The flood of requests from US manufacturers with the Commerce Department to exempt them from the Trump administration’s hefty tariffs on steel and aluminium imports is exposing competitive information to rivals, customers and…