KUALA LUMPUR: Wah Seong Corp Bhd’s indirect 60%-owned subsidiary WDG Resources Sdn Bhd has been made the exclusive distributor for South Korea’s Doosan Infracore Co Ltd construction equipment throughout Malaysia, paving the way for the company to tap vast business opportunities in East Malaysia.
This follows the signing of an exclusive distributorship agreement today between WDG and Doosan, which is South Korea’s global leader in infrastructure support equipment.
The agreement extends WDG’s exclusive distributorship rights to also cover Sabah and Sarawak from just Peninsular Malaysia previously.
In June 2017, WDG had been appointed the exclusive distributor of Doosan range of equipment including excavators, wheel loaders and articulated dump trucks within Peninsular Malaysia.
Wah Seong managing director and group CEO Chan Cheu Leong said the expanded distributorship provides an opportunity for WDG to participate in infrastructure and construction projects in Sabah and Sarawak, including the Pan Borneo Highway.
“The extension of the Doosan distributorship will double the sales potential for WDG. WDG is confident of riding on its excellent track record to break new grounds in Sabah and Sarawak,” Chan said in a statement.
The distributorship is expected to contribute positively to the earnings of WSC group over the period of the distributorship agreement.
Traditionally, Wah Seong group’s industrial trading and services division is mostly entrenched in Peninsular Malaysia; this latest partnership gives the division an opportunity to reach out to Sabah and Sarawak in terms of trade and new opportunities.
Under the two-year distributorship agreement, WDG can leverage on Doosan’s machinery and equipment to take part in infrastructure projects in Sabah and Sarawak. In the past, its focus has been mainly in Peninsular Malaysia.
Doosan vice president of sales and marketing Chris Jeong Kwan Hee said the partnership with WDG will further establish Doosan brand in Malaysia.
“WDG has been effectively and successfully promoting Doosan products in the Malaysian construction industry since 2017. With the exclusive distributorship given to WDG, we are confident to establish a strong presence in the local infrastructure project business,” he added.
Doosan was established as Cho SunMachine Works in 1937 and was renamed Doosan Infracore in 2005. Apart from its own brand of construction equipment and power generation equipment, it also acquired the Bobcat brand in 2015.
WDG is principally involved in the distribution and service of industrial machinery, equipment and parts. It is also an authorised distributor of Mitsubishi Heavy Industries range of diesel generator sets.
After first securing the sole distributorship of Doosan range of construction equipment in Peninsular Malaysia, WDG has established a firm footing in providing its products and services to the local infrastructure and construction sectors.
The distributorship with Doosan also resulted in the group securing contracts to supply construction equipment to the Bandar University Pagoh Project, the Northern Free Trade Zone in Bukit Kayu Hitam, Kedah, the Gemas Double Track Project, Elmina Township in Subang and MCKIP in Kuantan.
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PETALING JAYA: Zelan Bhd’s wholly owned subsidiary Zelan Construction Sdn Bhd has initiated arbitration proceedings against NRY Architects Sdn Bhd, with claims amounting to some RM300 million.
In a filing with Bursa Malaysia, Zelan said the arbitration is in respect of the disputes and differences arising between the two parties in relation to the proposed development of academic buildings and college accommodation.
The academic buildings and college accommodation is part of the Centre of Foundation Studies of the International Islamic University of Malaysia (IIUM) in Kuantan, Pahang.
Zelan Construction’s claims against NRY Architects is premised on breach of contract by NRY Architects under the Consultancy Services Agreement dated May 9, 2013 entered into between the two parties.
Zelan Construction is seeking a declaration that NRY Architects has breached the contract by failing to carry out its obligation under the contract and payment for the refund on value of cost savings for deviation items amounting to RM5.97 million resulting from the breaches committed by NRY Architects.
It is also seeking payment for IIUM claims for rental of temporary facilities, utilities bills and other costs from January 2016 until June 30, 2018 amounting to RM38.31 million as well as loss of income for Zelan Construction amounting to RM261.12 million.
PETALING JAYA: KIP Group of Companies is planning to open three new shopping malls over the next three years involving RM150 million in gross development cost to cater to the demand of the middle mass market, says group CEO Valerie Ong.
She said the three new malls will be located in Raub, Kuantan and Sungai Petani.
“This means we will have a total of 12 shopping malls in our portfolio, including the six properties that had been injected to our listed entity, KIP REIT,” she told reporters at the launch of its ninth shopping mall — KIP Mall Desa Coalfield, at Desa Coalfield Sungai Buloh.
KIP Reit’s portfolio now comprises one KIP shopping mall in Bangi and five KIP Marts in Tampoi, Kota Tinggi, Masai, Senawang and Malacca.
It had also acquired Aeon Mall Kinta City, Ipoh for RM208 million.
Ong said Malaysia’s retail industry is forecast to grow by 4.5% to RM109 billion this year.
She said although consumers now prefer to buy goods online, the company would not be impacted as the malls are all placed in upcoming or growing markets where consumers still prefer physical buying.
Ong said KIP Mall Desa Coalfield, which will open in the fourth quarter of this year, has already secured an 80% occupancy rate with tenants that include Econsave, Mr DIY, Watson, Metro Optical and KFC.
Founded in 1993, KIP Group of Companies is a developer of value-added products in both property development and retail management.
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KUALA LUMPUR: Malaysia will next month lift a ban on bauxite mining that has been in place for three years, a minister said Tuesday, despite warnings the move may cause serious environmental damage.
The mining of bauxite, the main ore used to smelt aluminium, took off in Malaysia to feed strong Chinese demand after neighbouring Indonesia banned exports in 2014.
But authorities imposed a ban after complaints that pits across the bauxite-rich central state of Pahang were blighting the landscape, rivers were being stained red by mining run-off, and there was a rise in respiratory problems and skin rashes.
In addition, critics said most of the mining was illegal, and done amateurishly with no government oversight.
Xavier Jayakumar, water, land and natural resources minister, said the new government which took power last year has decided not to extend a moratorium which ends on March 31.
“Industry players can resume mining by April, but they must adhere to strict mining conditions,“ he told AFP, adding the move was to allow Pahang to earn crucial extra revenue.
The announcement will also allow to be shipped overseas some 432,000 tons of high-grade bauxite currently stored at Kuantan port on the South China Sea.
Kuantan member of parliament Fuziah Salleh, representing a party in the ruling coalition, criticised the decision to lift the ban, warning that waste would once again be washed into waterways.
Mining will “pollute the rivers which are sources of water for the locals”, she told AFP.
Bauxite mining can release carcinogenic heavy metals such as strontium, caesium and other harmful substances, as well as low levels of radiation.
It is not clear whether the policy shift will lead to a new boom in bauxite mining in Malaysia, however, particularly as Indonesia started allowing exports again in 2017. — AFP
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