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New RM1.2b dam to be built in Penang

New RM1.2b dam to be built in Penang
GEORGE TOWN: The federal government will build a new dam besides enlarging the Mengkuang dam in Penang in a bid to increase water capacity in the state by 3.8 times.
State Barisan Nasional (BN) working committee chairman Datuk Dr Teng Hock Nan, said the RM1.2 billion project would be implemented soon.
To this end, an agreement will be inked between Energy, Green Technology and Water Minister Datuk Peter Chin Fah Kui and Penang Chief Minister Lim Guan Eng in Putrajaya on Thursday.
Dr Teng said the deal showed that the federal government had not forsaken Penang although the BN was no longer at the helm.
"The project demonstrates that the BN federal government has not marginalised the state government led by the opposition pact, as claimed by Lim Guan Eng," he told reporters here on Monday, May 30.
Dr Teng said that for the past 50 years, the BN government had been giving attention to the state's water supply needs, which included the construction of Air Itam, Teluk Bahang and Mengkuang dams. - Bernama
Salang wants Felcra to develop more NCR land in interior S'wak
JULAU: The Federal Land Consolidation and Rehabilitation Authority should develop more Native Customary Rights land in the Sarawak interior, Deputy Information, Communication and Culture Minister Datuk Joseph Salang said.
"But of course, this can only be done with the full consent of all the owners," he said at a pre-Gawai Dayak gathering organised by Felcra Sarawak at a longhouse in Kerangan Rian near here Sunday night, May 29.
Felcra has developed NCR land in Kuching, Sarikei and Julau on a profit-sharing basis with the owners.
Salang understood that Felcra has earmarked several thousand more hectares of NCR land to be developed into oil palm plantations.
He wanted Felcra to develop still more NCR land in partnership with the owners.
Salang said that Felcra was a good partner for the owners because "it is prepared to develop land without any title, is not entirely profit-driven and uses public funds to help people make money."
Oil palm is now the crop planted on NCR land, but Salang said Felcra could also, with the agreement of the owners, choose rubber.
Jalang, who is MP for Jalau, said there were large areas of NCR land in his constituency that could be developed into oil palm or rubber estates.
He also said that Jalau could  be a very good commodity feeder area for the Tanjung Manis halal hub  which was set to be the biggest halal food producer in the country. - Bernama
UOA Devt to earn net profits of RM169m
KUALA LUMPUR: Kenanga Research expects UOA Development Bhd to rake in net profit earnings of RM169 million for the financial year ending Dec 31, 2011, assuming its new launched properties, with a gross development value of RM363 million, will commence this year.
The research firm also estimated that UOA has about RM1.4 billion worth of unsold properties and RM300 million of unbilled sales, it said in a research note on Monday, May 30.
UOA's current financial year earnings net dividen per share was estimated at 4.3 sen, based on 30 per cent of core profit after tax.
The group has a dividen policy of between 30 and 50 per cent net payout before fair value adjustments, subject to the company's discretion, Kenanga added. - Bernama
IJM Corp's orderbook may reach RM9b by year-end
KUALA LUMPUR: Construction company IJM Corporation Bhd's orderbook may potentially hit RM9 billion by year-end from its existing RM4 billion, research houses said.
The increase will come from the RM5 billion worth of new orders for the New Pantai Expressway (NPE) extension and the West Coast Expressway (WCE), said HwangDBS Vickers Research in its research note on Monday, May 30.
It also said the RM9 billion orderbook will also surpass IJM Corporations record RM6.5 billion in 2007.
"The quality of order wins will be better with 90 per cent being local government jobs against the 50 per cent from overseas in 2007.
"We understand margins will be attractive and stable given both are privately negotiated contracts between its concession holders and the government," HwangDBS Vickers added.
The concession agreement for the RM800 million-RM900 million NPE should be inked in October this year, OSK Research said in its note.
OSK also said IJM is eyeing some private finance initiative (PFI) jobs in Kuala Lumpur.
OSK Research has maintained its "buy" call on IJM Corporation and raised its fair value of the company from RM6.76 to RM6.96.
HwangDBS meanwhile, has also maintained a "buy" call at RM6.20 with a target price RM8.70. - Bernama

GEORGE TOWN: The federal government will build a new dam besides enlarging the Mengkuang dam in Penang in a bid to increase water capacity in the state by 3.8 times.

State Barisan Nasional (BN) working committee chairman Datuk Dr Teng Hock Nan, said the RM1.2 billion project would be implemented soon.

To this end, an agreement will be inked between Energy, Green Technology and Water Minister Datuk Peter Chin Fah Kui and Penang Chief Minister Lim Guan Eng in Putrajaya on Thursday.

Dr Teng said the deal showed that the federal government had not forsaken Penang although the BN was no longer at the helm.

"The project demonstrates that the BN federal government has not marginalised the state government led by the opposition pact, as claimed by Lim Guan Eng," he told reporters here on Monday, May 30.

Dr Teng said that for the past 50 years, the BN government had been giving attention to the state's water supply needs, which included the construction of Air Itam, Teluk Bahang and Mengkuang dams. - Bernama

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