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Reports Malaysia

Malaysia stock market and companies daily report (July 23, 2014)

July 23, 2014, Wednesday, 04:42 GMT | 23:42 EST | 08:12 IST | 10:42 SGT
Contributed by Shares Investment

Talam Eyes Projects Worth RM3b

- Talam Transform does not see a turnaround of its financial performance in the short term but expects an improvement over the medium or longer term.

- The company expects to reap about RM300 million from the sale of its existing assets, which will be put towards reducing its outstanding liabilities and creditors, within the next year.

- Additionally, Talam has submitted new property development plans to the Selangor government worth a potential RM3 billion of mainly residential projects.

Significance: Pending the relevant approvals, the estimated time frame for the projects is four to five years.

TNB Inks Power Generation Facility

- Tenaga Nasional (TNB) has secured a power purchase agreement (PPA) with Jimah East Power, a consortium of 1Malaysia Development and Mitsui & Co.

- Jimah East will design, construct, own, operate and maintain a coal-fired electricity generating facility with a nominal capacity of 2,000 megawatts located at Port Dickson, Negeri Sembilan.

- Jimah East also inked a coal supply and transportation agreement with TNB Fuel Services to govern the supply of coal to the facility.

Significance: The PPA governs the obligations of both parties to buy and sell the facility’s daily available capacity for a period of 25 years.

WCT Clinches RM342m Pengerang Road Job

- WCT Holdings has bagged a RM341.9 million contract for the construction of roads within the Refinery and Petrochemical Integrated Development site in Pengerang, Johor Bahru.

- The project, awarded by Petronas Refinery and Petrochemical Corporation, includes the development and maintenance of common permanent and temporary roads.

- WCT did not provide a guidance on the timeline of the project.

Significance: The contract is expected to contribute positively to WCT’s future earnings and net assets.