Sunway unit bags RM74.1mil contract

PETALING JAYA: Sunway Holdings Bhd's unit Sunway Construction Sdn Bhd (SunCon) has secured a contract worth RM74.1mil from Bio-XCell Sdn Bhd to undertake the engineering, procurement, construction and commissioning of a central utilities facility at Biotechnological Park Bio-XCell in Nusajaya, Johor.

“The proposed project is targeted to be completed by May 25, 2012.

“It is expected to contribute positively to the earnings of Sunway group for the financial year ending Dec 31, 2011 onwards,” Sunway Holdings said in a note to Bursa Malaysia yesterday.

The proposed project is subject to normal construction risk of materials price fluctuation, according to the company.

“However, with the past experience and expertise of SunCon in construction projects in Malaysia, this risk could be mitigated at this juncture.”

By The Star

Mydin to invest RM1.4b on 14 hypermarts

Mydin Mohamed Holdings Bhd plans to open 14 new hypermarkets nationwide over the next few years by investing RM1.4 billion, its managing director, Datuk Ameer Ali Mydin said today.

He said the group is also mulling the idea of raising some RM350 million via a bond issuance to fund its expansion plan but declined to reveal details.

The amount can fund three hypermarkets, namely one in Seremban and two in Johor Baru, as on average, each hypermarket will cost RM150 million, he told reporters after Prime Minister, Datuk Seri Najib Tun Razak unveiled the nine new projects under the Economic Transformation Programme (ETP) here, today.

He also said it took between 12 to 15 months to complete a hypermarket.

By Bernama