NST Online Business Times : latest
NST Online Business Times : latest |
| Tenaga wins Bangladesh power job Posted: 04 Sep 2012 07:00 PM PDT Malaysia's utility giant, Tenaga Nasional Bhd's (TNB), proposal has been selected by the Bangladesh Power Division for the The power plant, to be installed at either Anwara in Chittagong or Maheshkhali at Cox's Bazar, would be through a joint-venture company owned by the Power Development Board and TNB, Bangladesh's "New Age" newspaper reported, quoting unnamed officials. It said the plant would run on imported coal. A delegation, led by the Power Division's additional secretary Md Mofazzel Hossain, will visit Malaysia this month to finalise the memorandum of understanding on the installation and operations of the plant, the officials said. China and Thailand power generation companies have also submitted proposals to the Power Division for the project. A Power Division official told New Age they preferred the Malaysian proposal as it met the criteria set by the ministry. "Therefore, we're going to begin a formal process to implement the project with the Malaysian state agency," he said. Both the Chinese and Thai companies wanted to give engineering, procurement and construction contracts to their own firms while Bangladesh wants to award the contracts through a tender process, the official said. "Besides, they wanted the joint-venture company board to have the majority of the people from their side, which would have let them to pursue their interests through the board,' he said. According to Malaysia's proposal, the joint-venture company will implement the project on a build-own-operate scheme, the report said. The power board and TNB will have equal shares in the project. The board will be established with equal number of members from both the state-run power agencies. The board chairman and managing director will be alternated periodically with people from both the agencies. The government decided to go for joint-venture projects to draw funding for project implementation, the Power Division official said. With this, Dhaka has so far initiated three big coal-fired power projects, each having 1,320MW power generation capacity, in joint venture with equal shares with three state-run agencies. TNB is the biggest power utility company in Malaysia, with the experience to install and operate a number of plants, with a combined 12,000MW generation capacity in Malaysia and Pakistan. Bangladesh has set a long-range target to generate about 20,000MW power from coal-fired plants by 2030. According to the long-term power generation plan drawn up in 2010, the government will generate 11,250MW electricity using domestic coal and the remaining amount with imported coal. -- Bernama |
| KL shares open lower in early trade Posted: 04 Sep 2012 07:11 PM PDT Share prices on Bursa Malaysia open lower in early trading Wednesday on weak sentiments following renewed worries on The FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.95 points to 1,651.16 at 9.32 am after opening 0.21 of a point lower at 1,653.90. They said concerns over the prolonged European debt crisis were worsening after Moody's lowered the European Union's long-term rating to negative. HwangDBS Vickers Research said the local bourse is expected to wriggle inside a narrow trading range today, with immediate support seen at the 1,650 level. "The benchmark index, nevertheless, could show a slight positive bias as it attempts to chart new highs ahead," it said in a research note today. The research house said companies that may see share price actions today include MRCB after the substantial shareholder Employees Provident Fund has dismissed market talk that the pension fund plans to dispose of its entire stake in the property development and infrastructure company; and Favelle Favco, which has received purchase orders to supply offshore cranes totaling RM90 million. On Bursa Malaysia, the Finance Index fell 19.32 points to 14,762.89, the Plantation Index lost 8.32 points to 8,648.89 and the Industrial Index declined 4.21 points to 2,861.04. The FBM Emas Index dwindled 19.29 points to 11,257.32, the FBM Mid 70 Index dipped 20.10 points to 12,280.38, while the FBM ACE Index gained 12.09 points to 4,566.85. Losers led gainers 148 to 104 while 190 counters were unchanged, 1,179 untraded and 20 others suspended. Turnover stood at 197.27 million shares worth RM79.698 million. Among active counters, Ideal Sun City lost half-a-sen to 5.5 sen, Ingenuity Solutions rose three sen to 25.5 sen and Nextnation Communication earned one sen to 15 sen. Heavyweights, Maybank lost one sen to RM9.16, Sime Darby fell four sen to RM9.76, while CIMB gained three sen to RM7.80. -- Bernama |
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