MALAYSIA PRESS-TNB may pay $378 mln for undersea cable-Malaysian Reserve
Tenaga Nasional Bhd (TNB) is expected to take up
the full cost of building the proposed $377.77 mln (1.2
billion ringgit) undersea cable across the Straits of
Malacca, according to an industry source.
The undersea cable, which is similar to the scrapped
$2.20 bln (7 billion ringgit) undersea cable for the Bakun
hydroelectric dam project to transmit electricity from
Sarawak to Peninsular Malaysia, was one of the projects
that TNB said it was looking into when it signed a
memorandum of understanding (MoU) on Monday with Indonesia's
state-owned power company and a mining company, which also
included a power plant project.
Offshore support vessels (OSV) operator Bumi Armada Bhd
aims to double the size of its current fleet of 43
vessels in the next four years.
"We now have 43 vessels with an average age of five
years. It's a growing fleet and we target to double it by
2015/16," said Bumi Armada chief executive officer Hassan
Basma during a press conference on Thursday-The Edge
Malaysian Airline System Bhd (MAS) has tweaked its
business turnaround plan and delayed its target to return to
profitability by another year to 2014, said managing
director and chief executive officer Ahmad Jauhari Yahya,
who also hinted at the possibility of layoffs.
Jauhari said the new plan followed events which occurred
over the past six months, including the reversal of the
share swap between Khazanah Nasional Bhd and Tune
Air Sdn Bhd, the $787.03 bln (2.5 billion ringgit) losses
MAS posted for financial year 2011, and the scrapping of a
new regional premium airline-The Edge.
NOTE: Reuters has not verified these stories and does not vouch for their accuracy.
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