environmental

 
 

Boeing crisis, trade tensions cast pall over air show

PARIS, June 17 — Safety concerns, trade wars and growing security tensions in the Gulf are dampening spirits at the world’s largest planemakers as they arrive at this week’s Paris Airshow with little to celebrate despite bulging order books….


EcoWorld Malaysia partners PowerChina Group for development, infra projects

PETALING JAYA: Eco World Development Group Bhd (EcoWorld Malaysia) has announced its collaboration with PowerChina Group for property development and infrastructure projects in Malaysia.

The two parties have inked a conditional joint venture to develop 117.35 acres of industrial land to be known as Eco Business Park V Phase 2 in Shah Alam through EcoWorld’s subsidiary Paragon Pinnacle Sdn Bhd and a Malaysian incorporated subsidiary of the PowerChina Group.

The proposed conditional joint-venture will entail the formation of a joint venture company Eco World PowerChina Business Park Sdn Bhd that will purchase the industrial land from Paragon Pinnacle Sdn Bhd for RM240.2 million.

It will then jointly develop the 117.35 acres as Eco Business Park V Phase 2, an industrial project involving the development of medium to large individual industrial lots for light industries. Eco Business Park V Phase 2 is expected to have a gross development value (GDV) of RM850 million.

The JV company will be 60% owned by PowerChina via its Malaysian incorporated subsidiary and 40% owned by Paragon Pinnacle.

In addition, EcoWorld Malaysia has also signed a Memorandum or Understanding with PowerChina Group’s infrastructure arm to jointly bid for infrastructure projects in Malaysia.

EcoWorld chairman Tan Sri Liew Kee Sin said apart from its reputation as a globally renowned construction company, PowerChina also has an extensive network of clients who may be interested in investing in industrial real estate projects in Malaysia.

“This bodes well for our aims to make Eco Business Park V not only one of the best industrial parks in the country but also a key job centre offering quality employment opportunities for the people of Selangor. We are also gratified that the PowerChina Group has chosen to work with EcoWorld in their first industrial real estate venture in Malaysia and to bid for potential infrastructure projects in Malaysia,” Liew said in a statement.

With a total GDV of RM3.7 billion, Eco Busines Park V is planned to be the largest single-project development powered by industrial facilities and intelligent, environmentally-friendly features designed to help businesses save on energy and resources while reducing the park’s overall carbon footprint.


Norway fund may have to offload US$1b stake in Glencore in shift away from coal

OSLO, June 12 — Norway's US$1 trillion (RM4.16 trillion) sovereign wealth fund may have to sell its US$1 billion stake in commodities giant Glencore, among other companies that derive more than 30 per cent of their revenue from coal, to meet…


Trump simplifies reviews of genetically modified farm products

COUNCIL BLUFFS, June 12 — US President Donald Trump signed an executive order yesterday directing federal agencies to streamline the review process for agricultural biotechnology including genetically modified livestock and seeds. Trump signed the…


US seeks to help countries boost key minerals' output to reduce reliance on China

WASHINGTON, June 12 — The United States will team up with Canada and Australia to help countries around the world develop their reserves of minerals like lithium, copper and cobalt, the State Department said yesterday, part of a multi-pronged…


Macron says France will ratify ‘positive’ EU-Canada trade pact

PARIS, June 7 — President Emmanuel Macron said today that France would move to ratify a wide-ranging trade deal between the EU and Canada despite criticism the pact gives excessive power to businesses while exposing many smaller firms to unfair…


Australia PM: China-US tensions ‘very negative influence’ on global economy

SINGAPORE, June 7 — Trade tensions and high-tech rivalry between the US and China are having a “very negative influence” on the world economy, Australia’s prime minister said today as he urged both powers to resolve their differences. Scott…


Car firms call on Trump to keep emission limits

WASHINGTON, June 7 — More than a dozen car manufacturers, including Ford, General Motors, Toyota, Honda and Volkswagen have officially asked US President Donald Trump not to relax emission limits, to avoid a fragmentation of the car market, US…


France to propose new tax on flights in Europe

WASHINGTON, June 6 — France today will propose a new tax on flights in Europe to encourage travellers to switch to less polluting forms of transport, a source in the transport ministry told AFP. The airline sector is coming under increasing…


Asia, US boost global plastic output

PARIS, June 4 — Despite widespread alarm on the environmental cost, Asia and the United States lifted world production of plastic last year while Europe saw a dip, the PlasticsEurope federation said today. Voicing concern over US imports, the…