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Vincent Tan to list U Mobile by 2020, to delist Berjaya Land

KUALA LUMPUR: Berjaya Corp Bhd’s (BCorp) founder and executive chairman Tan Sri Vincent Tan Chee Yioun (pix) today announced a slew of corporate exercises, including the potential listing of U Mobile Sdn Bhd and the delisting of Berjaya Land Bhd (BLand) from Bursa Malaysia.

Speaking at a press conference, Tan said the listing of U Mobile will take place either in 2019 or latest by 2020.

The group is also weighing the possibility of delisting BLand on Bursa Malaysia, which will then be listed on the Singapore Stock Exchange.

As for Berjaya Media Bhd, Tan said a profitable private company will be injected as part of its regularisation plan to be uplifted from the Practice Note 17 (PN17) status before considering privatisation exercise.

Tan expressed his optimism on BCorp’s business outlook in the coming year.

“We have some good positive things going on. For example, we have the environmental business, our sanitary landfill (for which) we are making headway overseas.”

“We are constructing one in the Philippines now and are going to be building several there. We are also looking at Vietnam and a few other countries,” he said, adding that the environmental business holds bright prospects for the group.

Tan also said that he is planning to sell a prime asset – the Four Seasons Hotel in Kyoto, Japan, which could bring in a gain of disposal of US$350-400 million if the deal materialises.

“I think in the next 60 days, we are going to conclude that. I think we will do very well in the investment, we will make a big profit. This is the plan (but it is) subject to confirmation.”

Meanwhile, BCorp, which is working with the Pahang state government via a joint venture to develop an airport on Tioman Island, is hoping to secure approvals from the government in the next few months.

Terming this as a viable business, Tan said this will also transform the island’s tourism scene while also bringing in more investments.

On 7-Eleven Malaysia Holdings Bhd, the group is looking to expand its chain of 7-Eleven stores by at least 200 new stores next year as well as increasing the number of franchisees.

7-Eleven Malaysia Sdn Bhd today entered into a memorandum of agreement with Pertubuhan Tindakan Pejuang Wanita Dalam Sosial, Ekonomi, Rumahtangga Dan Ilmu (Tiangseri Malaysia) to provide an opportunity to those interested to be franchisees to enter the ecosystem.

Tiangseri is commissioned to recruit and recommend up to 50 potential franchisees to 7-Eleven Malaysia in the next 12 months.

Commenting on the gaming industry, Tan noted that sales of Berjaya Sports Toto Bhd has increased and will double if the illegal bookies are weeded out.

He added that being the sole operator in Vietnam, the long term prospect for its gaming and lottery unit in the country is good.


Vincent Tan plans to list U Mobile by 2020, to delist Berjaya Land

KUALA LUMPUR: Berjaya Corp Bhd’s (BCorp) founder and executive chairman Tan Sri Vincent Tan Chee Yioun (pix) today announced a slew of corporate exercises, including the potential listing of U Mobile Sdn Bhd and the delisting of Berjaya Land Bhd (BLand) from Bursa Malaysia.

Speaking at a press conference, Tan said the listing of U Mobile will take place either in 2019 or latest by 2020.

The group is also weighing the possibility of delisting BLand on Bursa Malaysia, which will then be listed on the Singapore Stock Exchange.

As for Berjaya Media Bhd, Tan said a profitable private company will be injected as part of its regularisation plan to be uplifted from the Practice Note 17 (PN17) status before considering privatisation exercise.

Tan expressed his optimism on BCorp’s business outlook in the coming year.

“We have some good positive things going on. For example, we have the environmental business, our sanitary landfill (for which) we are making headway overseas.”

“We are constructing one in the Philippines now and are going to be building several there. We are also looking at Vietnam and a few other countries,” he said, adding that the environmental business holds bright prospects for the group.

Tan also said that he is planning to sell a prime asset – the Four Seasons Hotel in Kyoto, Japan, which could bring in a gain of disposal of US$350-400 million if the deal materialises.

“I think in the next 60 days, we are going to conclude that. I think we will do very well in the investment, we will make a big profit. This is the plan (but it is) subject to confirmation.”

Meanwhile, BCorp, which is working with the Pahang state government via a joint venture to develop an airport on Tioman Island, is hoping to secure approvals from the government in the next few months.

Terming this as a viable business, Tan said this will also transform the island’s tourism scene while also bringing in more investments.

On 7-Eleven Malaysia Holdings Bhd, the group is looking to expand its chain of 7-Eleven stores by at least 200 new stores next year as well as increasing the number of franchisees.

7-Eleven Malaysia Sdn Bhd today entered into a memorandum of agreement with Pertubuhan Tindakan Pejuang Wanita Dalam Sosial, Ekonomi, Rumahtangga Dan Ilmu (Tiangseri Malaysia) to provide an opportunity to those interested to be franchisees to enter the ecosystem.

Tiangseri is commissioned to recruit and recommend up to 50 potential franchisees to 7-Eleven Malaysia in the next 12 months.

Commenting on the gaming industry, Tan noted that sales of Berjaya Sports Toto Bhd has increased and will double if the illegal bookies are weeded out.

He added that being the sole operator in Vietnam, the long term prospect for its gaming and lottery unit in the country is good.


With eye on China, Germany toughens rules for foreign buyouts

BERLIN, Dec 19 — Germany was today set to toughen rules on non-EU share purchases and acquisitions of its strategic companies, amid growing disquiet about takeovers by Chinese firms. It plans to lower the threshold where reviews apply to foreign…


Ringgit lower against US$ on reduced demand, lower oil price

dollar ringgit

At 9 am (0100 gmt), the ringgit was traded at 4.1770/1810 versus the greenback from Tuesday’s close 4.1750/1800. KUALA LUMPUR: The ringgit was lower against the US dollar early Wednesday on reduced demand for the local note amid weaker oil prices, a dealer said. At 9 am (0100 gmt), the ringgit was traded at 4.1770/1810 versus the greenback from Tuesday’s close 4.1750/1800. The dealer said oil prices continued dropping on concerns over future demand amid weakening global economic growth. “Doubts over the impact of planned production cuts led by theRead More


Ringgit ends higher on jitters over US dollar

KUALA LUMPUR, Dec 18 — The ringgit closed higher against the US dollar prompted by greenback's weakness, amid the sell-off in US equities, dealers said. At 6pm, the local note traded at 4.1750/1800 against the US dollar compared with…


Gamuda IBS to aid in affordable housing plan

BY EE ANN NEE

[email protected]

PETALING JAYA: Gamuda Bhd, which now has two Industrialised Building System (IBS) factories to produce 10,000 housing units a year, is well-positioned to help the government meet its target of 200,000 affordable housing units by 2020, as outlined in the 11th Malaysia Plan.

The first Gamuda digital IBS factory in Sepang is currently operating at maximum capacity producing 3,000 housing units annually.

Gamuda Industrial Building System Sdn Bhd general manager Tan Ek Khai said to meet the needs from anticipated growing demand in the housing sector, Gamuda IBS will be opening its second digital IBS factory on a 27-hectare site in Banting, soon.

“With our Banting factory, we will have the ability to produce 10,000 housing units per annum. It also produces a greater variety of products including double walls, the first of its kind in Malaysia and bathroom pods. Double walls, which are stronger and sturdier than single walls, enable us to build higher buildings of up to 50 floors, which helps address issues like limited land space,” Tan told SunBiz.

Developers are able to design and build various types of buildings including high-rise, landed, schools, hospitals, commercial and factories. They can also range from luxury homes to quality affordable housing. The possibilities are limitless with Gamuda IBS,” said Tan.

An enclosed environment in a factory benefits both the developer and client on many levels. There is no compromise in quality and productivity and at the same time, the development projects are completed on time, if not earlier. Apart from excellent quality assurance, having passed Sirim and fire rating tests, the products are also built with high precision, thus eliminating possibilities of material wastage.

“Both our factories are powered by Building Information Modelling (BIM), an online design tool which allows for the sharing and transfer of relevant information related to drawings, material supply, stockyard inventory and logistics, among others.

“This effectively brings down wastage to less than 1% and at the same time optimises efficiency and productivity,” said Tan, adding that this environment-friendly method also keeps construction sites safe, clean and well-organised.

Gamuda IBS’ automated system promotes a safe and secure building environment. The panels and slabs are produced within a controlled factory setting which are then delivered to the construction site to be hoisted and assembled in a Lego-like manner.

“This enables the completion of one floor per week, cutting down construction time by almost 12 months. For high-rise development, conventional building methods usually take 36 months to complete whereas Gamuda IBS can do it in 24 months.”

This is proven by Gamuda Land’s track record of completing their Jade Hills Rumah Selangorku (RSKU) project in Kajang, within two years. The structural work of the project, comprising 714 housing units across three blocks, were completed within 12 months while the RSKU Kundang Estates, made up of 280 units in one block, took just six months.

It is currently building 664 units of RSKU at Gamuda Gardens in Sg Buloh, and other affordable housing projects for Selangor State Development Corp (PKNS) in Cyber Valley and Worldwide Holdings Bhd, in Puncak Alam.

Gamuda Land is also using IBS for its own housing projects, building a range of landed homes from terraced to bungalow lots at their existing projects like twentyfive.7, Gamuda Gardens and Gamuda Cove.

Apart from design flexibility, and strong and sturdy buildings, IBS-optimised homes have high ceiling, spacious layout and smoother finishing. House buyers also need not worry about leakages, which are commonly found in bathrooms.

Fully-fitted bathroom pods

The Banting factory has a dedicated section to manufacture bathroom units and to this end, it has procured what is possibly Southeast Asia’s largest concrete casting mould. The factory has the capacity to produce 16,000 bathroom pods, of any types and sizes, annually.

The bathroom pods are fully-fitted with sanitary ware, basin and glass finishing, giving it a contemporary look and feel. They are made as a single seamless unit, devoid of any joints as each unit is already completed with all the required electrical, plumbing and ventilation connections, besides water-proofed walls, floors and fittings.

“For a precast bathroom, the entire unit will be hoisted by crane to the required floor and workers will just bolt the whole unit to the building, without applying any cement to the unit. If tiling is specified, the tiles would already be fitted in the factory, and not on site, thus contributing to a drastically cleaner and neater construction site.”

Clogged floor traps in new housing units are a bane to house-owners. With Gamuda IBS, the entire unit is already completed within the factory, thus eliminating any wet works at site – a common cause of blockage when poorly trained labourers push cement or other wastes like tile fragments into the floor trap to avoid doing a proper clean-up.

“The use of factory-made bathrooms will put an end to the shoddy habits such as improper construction waste disposal into the floor trap. It’s designed as basically plug-and-play units that speed up the entire housing construction process,” said Tan.

It is also renovation-friendly as the tiles can still be changed by the owner while the positions of fittings like mirrors can still be adjusted.


From Jakarta to Buenos Aires, the world feels Fed's sting

JAKARTA, Dec 18 ― When the US Federal Reserve kept lifting interest rates this year, a world away in Jakarta profits dropped to next to nothing at Andy Kurniawan's shop selling collectible action figures. The Fed's decisions lifted the dollar and…


Sterling edges up as UK PM May reschedules Brexit vote for January

LONDON, Dec 18 ― he pound edged off 20-month lows yesterday as British Prime Minister Theresa May rescheduled a delayed vote in parliament on her Brexit plan for mid-January. Sterling, trading at US$1.26 (RM5.26), inched higher as May confirmed…


AIG announces plans to tackle road safety with new app

KUCHING: AIG Malaysia yesterday marked its countdown towards its global centennial year with a special media briefing in Kuala Lumpur that celebrated its 66 years of safeguarding Malaysia while also identifying four key risk areas in 2019 amidst changing lifestyles and the advancement of technology. Antony Lee, CEO of AIG Malaysia identified high-risk areas for […]


Scomi’s Mumbai monorail contract axed

PETALING JAYA: Scomi Group Bhd’s contract for a monorail system in the Mumbai metropolitan region has been terminated by the Mumbai Metropolitan Region Development Authority (MMRDA).

In a filing with Bursa Malaysia, Scomi said the MMRDA issued a notice of termination of contract via a letter dated Dec 14, 2018 to the consortium of Larsen & Toubro Ltd and Scomi Engineering Bhd.

“The company is in discussions with its consortium partner with a view to fully enforce the consortium’s rights under the contract in respect of the notice of termination, including taking all necessary legal proceedings by acting on the advice of its solicitors,” it said.

The notice of termination takes effect 15 clear days from the date thereof. Scomi said the financial impact of the termination for the financial year ending March 31, 2019 is dependent on the outcome of the legal proceedings.

The RM1.85 billion contract for the design, development, construction, operation and maintenance of the monorail system in Mumbai was awarded by MMRDA to the consortium on Nov 7, 2008.

Scomi’s share price closed unchanged at 4.5 sen today with 550,200 shares traded.