KUALA LUMPUR: Sumatec Resources Bhd, in which Tan Sri Halim Saad controls some 25%, is confident of meeting its RM69 million net profit target this year.

KUALA LUMPUR: Sumatec Resources Bhd, in which Tan Sri Halim Saad controls some 25%, is confident of meeting its RM69 million net profit target this year.

KUALA LUMPUR: Bina Puri Holdings Bhd has bagged a RM281.5 million project from Brunei’s Housing Development Department to build 1,000 units of cluster houses in Brunei, confirming The Edge Financial Daily report on June 16.The latest award will raise the group’s unbuilt order book to RM2.09 billion.

KUALA LUMPUR: AirAsia Bhd is preparing to enter the low-cost carrier (LCC) market in Japan for the second time.

KUALA LUMPUR: AirAsia Bhd is preparing to enter the low-cost carrier (LCC) market in Japan for the second time.

KUALA LUMPUR: Perkasa president Datuk Ibrahim Ali has called for the resignation of Petroliam Nasional Bhd president and group chief executive officer Tan Sri Shamsul Azhar Abbas, over his comments in a recent interview published in The Edge weekly on Monday.

In the interview, Shamsul said that under the Petroleum Development Act, the nation’s oil and gas reserves belong to all Malaysians, and not just bumiputeras. He also asserted that there had been pressure from certain groups over the award of contracts by Petronas.

“He is trying to say in the interview that he is disturbed by certain groups and people — short of saying the Prime Minister — and that he has problems running Petronas as a professional organisation,” said Ibrahim yesterday.

“He [Shamsul] doesn’t have to say this... as if the bumiputera claims that Petronas belongs to bumiputera. We know that Petronas belongs to the country.

“But even if he was right to say that Petronas belongs to all Malaysians under the Petroleum Development Act, he must remember that it was overwritten by the New Economic Policy which was emphasised again by Prime Minister Datuk Seri Najib Razak last year, in the Bumiputera Economic Empowerment Agenda,” said Ibrahim, who alleged that Shamsul’s behaviour “is very unbecoming” and that he should resign.

Ibrahim has challenged Shamsul to a live debate with Perkasa so that “he can come out in the open to reveal the names of individuals and companies that he has allegedly been forced into backing”.

This article first appeared in The Edge Financial Daily, on June 27, 2014.

KUALA LUMPUR: Salcon Bhd will continue to broaden its revenue base, said executive director Datuk Eddy Leong Kok Wah. He said the  group is prepared to venture into new businesses outside of its current three core divisions of water and wastewater engineering, property development and its new joint venture with fibre optic cable layer Volksbahn Technologies Sdn Bhd (VBT).

CHINA’s real-estate sector has been a source of serious concern for several years, with soaring property prices raising fears of overheating in the housing market. But, with price growth easing, it seems that the government’s campaign to rein in property risk is finally taking hold. The danger now is that the housing market will collapse — bringing China’s economic prospects down with it.

KUALA LUMPUR: Australia-based Lend Lease and 1MDB Real Estate Sdn Bhd (1MDB RE) — a unit of 1Malaysia Development Bhd — have signed a binding agreement to work exclusively together to finalise the joint-venture documentation and commence work on the Tun Razak Exchange (TRX) Lifestyle Quarter.

SEPANG: Tune Hotels Group plans to invest about US$25 million in its new hotel in Kenya, said group chief executive officer Mark Lankester.