SapKen Secures RM969 Million Overseas Jobs
SapuraKencana Petroleum (SapKen) has secured contracts with a combined value of US$269 million (RM969 million) in India, Indonesia, Mexico and Vietnam.
SapKen had bid for a portion for the Oil & Natural Gas Corp’s Mumbai High South phase three development project, ranging from US$200 million (RM720.4 million) and US$300 million (RM1.1 billion).
SapKen had been rumoured to have had an advantage over all its contenders vying for a portion of the Indian project, given the rumoured low range of its bid between US$273 million and US$291 million.
Significance: SapKen faced competition from Larsen & Toubro, Abu Dhabi-based National Petroleum & Construction and US company McDermott, which had placed higher bids of US$390 million and US$406 million respectively.
Sunway Buys PJ Land For RM286 Million
Sunway is boosting its land bank close to its flagship development Sunway township by buying 17 acres worth RM286 million. The parcel is next to Western Digital in Sungei Way Free Trade Zone and works out to be around RM386 per square foot.
The company plans to roll out a mixed project that entails service apartments and retail shops after acquisition, with a total gross development value of RM1.8 billion.
The purchase from a private company, Kelana Resort, was in line with its target to buy land ready for immediate launch. The first launch is expected to be in the financial year ending 31 December 2016, with a development period of five years.
Significance: Sunway is buying the land through bank borrowings and/or internally generated funds, expecting the acquisition to be completed by the second half of the year. Sunway is confident that the project will receive positive response when launched.
Tropicana Surges 146 Percent In Profit For Q1
Tropicana‘s net profit for 1Q15 surged 146 percent to RM19.3 million, driven by higher revenue across key projects and proceeds from land sales. Revenue increased to RM390.9 million as well.
Tropicana’s marketing strategy for 2015 will be to vary and adapt launches to suit market demand, incorporating higher components of landed properties.
Tropicana will focus on projects in the central region and northern region for 2015, where markets are more resilient.
Significance: The group continues to unlock value of its land bank in the Klang Valley, where potential gross development value (GDV) is in excess of RM24.5 billion and the northern region where potential GDV stands at RM9.5 billion.
http://www.sharesinv.com
SapuraKencana Petroleum (SapKen) has secured contracts with a combined value of US$269 million (RM969 million) in India, Indonesia, Mexico and Vietnam.
SapKen had bid for a portion for the Oil & Natural Gas Corp’s Mumbai High South phase three development project, ranging from US$200 million (RM720.4 million) and US$300 million (RM1.1 billion).
SapKen had been rumoured to have had an advantage over all its contenders vying for a portion of the Indian project, given the rumoured low range of its bid between US$273 million and US$291 million.
Significance: SapKen faced competition from Larsen & Toubro, Abu Dhabi-based National Petroleum & Construction and US company McDermott, which had placed higher bids of US$390 million and US$406 million respectively.
Sunway Buys PJ Land For RM286 Million
Sunway is boosting its land bank close to its flagship development Sunway township by buying 17 acres worth RM286 million. The parcel is next to Western Digital in Sungei Way Free Trade Zone and works out to be around RM386 per square foot.
The company plans to roll out a mixed project that entails service apartments and retail shops after acquisition, with a total gross development value of RM1.8 billion.
The purchase from a private company, Kelana Resort, was in line with its target to buy land ready for immediate launch. The first launch is expected to be in the financial year ending 31 December 2016, with a development period of five years.
Significance: Sunway is buying the land through bank borrowings and/or internally generated funds, expecting the acquisition to be completed by the second half of the year. Sunway is confident that the project will receive positive response when launched.
Tropicana Surges 146 Percent In Profit For Q1
Tropicana‘s net profit for 1Q15 surged 146 percent to RM19.3 million, driven by higher revenue across key projects and proceeds from land sales. Revenue increased to RM390.9 million as well.
Tropicana’s marketing strategy for 2015 will be to vary and adapt launches to suit market demand, incorporating higher components of landed properties.
Tropicana will focus on projects in the central region and northern region for 2015, where markets are more resilient.
Significance: The group continues to unlock value of its land bank in the Klang Valley, where potential gross development value (GDV) is in excess of RM24.5 billion and the northern region where potential GDV stands at RM9.5 billion.
http://www.sharesinv.com
