NST Online Business Times : latest

Posted: 13 Mar 2013 07:41 PM PDT

TOKYO: Japanese engineering firm JGC Corp said on Thursday it has won a US$2 billion order from Malaysian state oil firm Petroliam Nasional Bhd (Petronas) for a new liquefied natural gas (LNG) train in Sarawak.

The liquefaction facility, Petronas LNG Train 9 with a capacity of 3.6 million tonnes per annum (mtpa), is due to be completed by end-2015, and will bring the total capacity of the Petronas LNG complex in Bintulu, Sarawak to around 27.6 mtpa.

Malaysia last year exported 14.6 million tonnes of LNG to Japan, the world's top LNG buyer, about 60 per cent of its LNG capacity, and the expansion could help increase exports to Japan further.

Petronas has said the new LNG train will require feed gas volumes of up to 850 million standard cubic feet per day, which will be supplied by various fields offshore Sarawak.

The design work for the project had been awarded to JGC and another consortium in February 2012, but JGC, which has built all existing eight LNG trains over three decades, was selected to build the ninth train.

Shares in JGC were trading up 1.8 per cent at 8.47am in an overall market up about 0.5 per cent.-- Reuters

Affin upgrades Genting to 'buy'

Posted: 13 Mar 2013 07:30 PM PDT

Affin Investment Bank upgraded Genting Bhd to 'buy' from 'reduce', saying it sees an emerging catalyst following the power-to-gaming group's plan to expand into Las Vegas.

"The emerging earnings growth driver will now drive share price performance, we opine," Affin said in a research note on Thursday.

The research house raised its target price on Genting to RM11.60 per share from RM8.75. It also raised its fair value on Genting Singapore PLC's to S$1.50 per share from S$1.20.

"Consistent with our initial assessment, we are positive on Resorts World Las Vegas as regulatory risk is low; infrastructure is well placed to support tourism trajectory; and importantly, recovery in gross gaming revenue is accompanied by a higher VIP (Very Important Person) baccarat mix and foreign visitation to Las Vegas," Affin said.

Genting on March 5 said it would purchase an unfinished resort on the Las Vegas strip from Boyd Gaming Corp for US$350 million, marking its first push into the US gambling hub.

As of 9.17am, the stock was down 0.51 per cent at RM9.75 per share. Since March 5, when the announcement was made, Genting shares have dropped 1 per cent.

The benchmark stock index fell 0.49 per cent.-- Reuters

Kredit: www.nst.com.my

Rabu, 13 Mac 2013

NST Online Business Times : latest

NST Online Business Times : latest

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