Comintel gets letter of intent for Vietnam solid waste management project

PETALING JAYA: Comintel Corp Bhd’s wholly owned subsidiary Green Waste Management Sdn Bhd has received a letter of intent from Vietnam based Thanh Cong Cooperative, to supply, install and commission a waste to energy system for the Xuan Son Municipal Solid Waste Treatment Plant.

The group said in a Bursa Malaysia filing that it had received the letter of intent on January 17, which serves as “basis of consensus” between the two parties to examine the feasibility of the project until a definitive agreement is forged.

The price of the contract is still under negotiation.

The contract will not have any material impact for the financial year ending Jan 31, 2018 but will contribute positively to the future earnings of the should the deal materialise.

The stock gained 0.63% to close at 80 sen with some 1.22 million shares traded.

Most South-east Asia stocks firm, Indonesia slips after hitting record

SINGAPORE, Jan 19 — Most South-east Asian stock markets firmed today and were on track to end the week higher as broader Asian shares climbed to an all-time top on data that showed China’s growth accelerated in 2017 for the first time in seven…

‘Must-have’ fish sauce helps create new Vietnam billionaire

HO CHI MINH CITY, Jan 19 — For Vietnamese consumer tycoon Nguyen Dang Quang, placing his fish sauce and other “must-have” condiments in the kitchen shelves of just about every home in the country has helped make him a billionaire. Shares of…

Thailand recommends daily minimum wage hikes up to 7pc

BANGKOK, Jan 18 — Thailand’s Central Wage Committee has recommended that the daily minimum wage be increased by 7 per cent to 330 baht (US$10.33) in its two most industrialised provinces, Chonburi and Rayong. The committee recommended… widens Southeast Asia presence by investing in Vietnam’s

BEIJING: Chinese online retailer Inc has made an investment in Vietnamese e-commerce firm, expanding its Southeast Asia business amid growing competition in the region from Alibaba Group Holding Ltd and Inc. co-led the financing with Vietnamese entertainment and social media firm VNG Corp, which is an existing investor, China’s second-biggest e-commerce […]

Sime Darby Property has potential to unlock vast strategically-located land bank

KUCHING: Sime Darby Property Bhd (Sime Darby Property) has potential to unlock the group’s vast strategically-located land bank measuring 20,763 acres with estimated gross development value (GDV) of circa RM100 billion. Given the group’s large tracts of land, the research arm of Public Investment Bank Bhd (PublicInvest Research) believed Sime Darby Property would continue to […]

BMW posts record-breaking sales in 2017

PETALING JAYA: BMW Group Malaysia’s car sales grew 16% in 2017 to a fresh high of 12,680 units against 10,906 units in 2016.

It’s the automaker’s seventh consecutive all-time high performance.

BMW Malaysia said in a statement that the BMW brand expanded 18% last year, delivering a total of 10,618 BMW vehicles from 9,000 vehicles in 2016, predominantly driven by the BMW 3 Series with 3,564 units delivered.

“The BMW X5 xDrive40e is also a key contributor of the brand’s performance, with over 3,000 units sold last year.”

MINI also delivered its best record performance in 2017 with 1,010 MINI vehicles delivered, representing a 12% against 902 units in 2016. Meanwhile, BMW Motorrad saw a 5% increase from 1,004 to 1,052 units of its motorcycles.

Globally, the premium automaker also achieved a new all-time sales high with a total delivery of 2.46 million vehicles.

BMW Group Malaysia managing director and CEO Han Sang Yun said the company is committed more than ever to serve Malaysia and the Southeast Asian region from Malaysia this year and set another benchmark with utmost excellence for the premium automotive industry.

“Going into 2018, with the continued support of the Malaysian government, our customers and our strong dealership network, we will realise our investments and plans for the region here and we hope in sustaining this momentum and achieving yet another milestone for the group and the country,” he noted.

BMW Group Malaysia will begin delivery of the first BMW 3 Series, BMW 5 Series and BMW 7 Series to Vietnam and the Philippines this year. Its assembly plant in Kulim increased its local assembly capabilities to over 10,000 vehicles in 2017 with an investment of over RM 10 million for the expansion.

“This year is our 15th year of operations in Malaysia and we are very proud to have established ourselves as the leading provider of premium individual and sustainable mobility. We look forward to another year of growth in every aspect – from our sales to the maturity of our product portfolio to our leadership in electromobility and future mobility here in Malaysia,” said Han.

Driving its product portfolio of BMW Hybrid vehicles with eDrive Technology forward, BMW Malaysia also noted that it will continue to prioritise on infrastructure and mobility services in its strategy to make electric driving a more comfortable and convenient experience and a daily pleasure.

Philippine, Thai shares set fresh records, Vietnam falls

SINGAPORE, Jan 16 — Philippine and Thai shares climbed to all-time highs today, while most other South-east Asian stock markets trod water in line with broader Asia as caution set in after the previous session’s record-setting gains. The…

Tan Chong Motor making a comeback

Tan Chong Motors

However, Bloomberg data showed that the majority of analysts are still neutral as there are six “hold” calls on the stock versus two “buys” and one “sell” rating. (Edaran Tan Chong Motor (Tengah) Sdn Bhd staff Tanusha Chandran, holding a pamplet of 7 years unlimited warranty at the Nissan showroom at Jalan Kemajuan in Petaling Jaya inconjunction with upcoming CNY celebration. – IZZRAFIQ ALIAS / The Star.) PETALING JAYA: Tan Chong Motor Holdings Bhd, the laggard among auto stocks, is regaining investor interest on the back of a potential turnaround inRead More