George Kent hot on acquisition trail

George Kent hot on acquisition trail
By Presenna Nambiar
Published: 2009/07/15

George Kent (Malaysia) Bhd (3204), which makes water meters and brass components, is aggressively looking for acquisition targets to grow its meter and contract divisions.

In addition to regional markets like Vietnam, Singapore and China, it is looking at Europe.

George Kent chairman Tan Sri Tan Kay Hock said it was looking for companies which can complement its manufacturing facilities, add to its range of water meters or are original equipment manufacturers (OEMs).

"We want to buy something soon because if the market starts to recover good assets will no longer be cheap," he said.

Tan said teams have been sent out to scout for potential targets, with the latest one just back from Singapore.
Depending on the size of the acquisition, the company would even be willing to go back to its shareholders to raise funds if required.

George Kent has about RM27 million in cash.

"The important thing is getting the right target. We are not afraid of the size," Tan told reporters in Kuala Lumpur yesterday.

Besides sales of its own water meters, 40 per cent of revenue comes from being OEM suppliers to "friendly" competitors.

As part of its transformation initiative launched some two and a half years back, George Kent plans to further develop its general civil and structural engineering expertise to enable it to take up more turnkey contractor and project manager jobs.

The key areas of focus will be in infrastructure works related to water and waste water, healthcare and hospital facilities.

The contract division is expected to contribute between 30 and 40 per cent revenue in the next five years.

George Kent is bidding for several projects under the Tenth Malaysia Plan, including the Pahang-Selangor raw water transfer scheme - package 3A: Semantan river intake and pumping station, the Langat II water treatment plants, new hospital upgrading and extension projects, and several other water infrastructure projects in Peninsular Malaysia.

It won its first job as a turnkey contractor in February this year for the 106-bed facility at Hospital Kuala Lipis, Pahang.

"The future prospects for George Kent will be bright. The strategic plan we have in place will not deliver instant results, but we are building the foundation for long-term growth of the group," Tan said.

- Bussiness Times

MAS, Royal Brunei to extend pact STG plans second resort in ECER

Saturday June 27, 2009
MAS, Royal Brunei to extend pact STG plans second resort in ECER

PETALING JAYA: Malaysia Airlines (MAS) and Royal Brunei Airlines will code-share flights between Bandar Seri Begawan and Kota Kinabalu, as well as between Bandar Seri Begawan and Kuching, effective July 1.

“As Borneo is a popular destination for North American and North Asian tourists, our customers can now enjoy seamless connectivity to the three major cities,” said MAS commercial director Datuk Rashid Khan in a statement.

The code-share for Bandar Seri Begawan-Kota Kinabalu wil be twice daily and the Bandar Seri Begawan-Kuching route twice weekly.

KUALA LUMPUR: The STG Group, developer of the Gold Coast Resorts projects, will invest RM50mil in a lake holiday resort in Kenyir, its second in the East Coast Economic Region (ECER).

The first is the RM10mil Gold Coast Kuantan resort with 99 apartment suites, with a view of the South China Sea.

“The Gold Coast Kenyir development will comprise a hotel mall with shops, longhouses and bungalows built over Kenyir Lake’s serene waters,” STG chairman Datuk Dr Alex Tan said in a statement.

The STG Group is targeting to be listed by 2012. — Bernama

ECER Projects To Spur Mersing's Development

9 June 2009

ECER Projects To Spur Mersing's Development

KUALA LUMPUR, June 9 (Bernama) -- Mersing will be developed as a tourism destination and gateway to the Mersing group of islands under the East Coast Economic Region (ECER) master plan.

In a statement today, the ECER Development Council's chief executive officer, Datuk Jebasingam Issace John said five projects had been identified under the ECER master plan and which are expected to stimulate Mersing's economy by 2020.

He said, according to the ECER master plan, Mersing had great potential for ecotourism, mainland coastal tourism and island tourism.

"To increase entrepreneurial opportunities, several social and human capital development initiatives will be introduced. These ECER projects are interrelated and will enhance the region's dynamism," he said.

Mersing's coastal area will be transformed into an integrated tourism destination through the development of coastal resorts and hotels, a new commercial business area as well as a jetty complex for island hopping activities.

The project will involve land reclamation of about 2,000 acres on the seafront side of Mersing Town, to be developed as an integrated resort featuring waterfront homes, hotels as well as a new commercial and business area.

A new jetty complex has also been proposed to house a passenger ferry jetty, a fishing jetty and a marina.

Mersing town,the established gateway for the Mersing group of islands as well as Pulau Tioman in Pahang, boasts of many attractive, unspoiled beaches along its coastline.

It is also the main ecotourism gateway for the Endau Rompin National Park.

-- BERNAMA

103 Projects Implemented At Economic Corridors, Says Najib

July 02, 2009 21:16 PM

103 Projects Implemented At Economic Corridors, Says Najib

KUALA LUMPUR, July 2 (Bernama) -- A total of 103 or 46 per cent of the 224 projects listed for implementation at the five regional development corridors have started, Prime Minister Datuk Seri Najib Tun Razak told the Dewan Rakyat Thursday.

He said some of the projects were at initial stage such as environmental impact assessment, design evaluation, land surveying and site preparation.

"In terms of projects that have been started according to economic corridors, Iskandar Malaysia has recorded 100 per cent and Northern Corridor Economic Region has registered 43 per cent," he said in his written reply to Hee Loy Sian (PKR-Petaling Jaya Selatan).

Hee wanted to know the progress of the economic corridors initiated by former Prime Minister Tun Abdullah Ahmad Badawi and whether the government would continue with the corridor projects.

Najib said 45 per cent of the projects slated for the East Coast Economic Region (ECER) have been started, Sabah Development Corridor (SDC) 28 per cent and 100 projects at Sarawak Corridor of Renewable Energy (SCORE).

"As of now investments received via signing of contracts for all the five regional development corridors totalled RM155.71 billion or 7.4 per cent higher as compared to the RM145 billion targeted investment under the Mid-Term Review of the Ninth Malaysia Plan," he said.

The Prime Minister said the government would continue with regional development corridor initiative to address development imbalances in states and regions.

"This approach will build on the present advantage in the development areas and will be expanded to potential areas within the corridor areas and focus on optimising the available resources to the fullest," he said.

Najib said the development programmes would ensure the locals benefited from creation of jobs, business opportunities and provision of facilities to boost income and improve the people's standard of living.

"In the long-term, the government believes the spin-offs from the projects will be accepted by the people from all strata of society including people in the rural areas," he added.

-- BERNAMA

STG Group To Invest RM50 Million In Kenyir Lake Resort Project

26, 2009 16:02 PM

STG Group To Invest RM50 Million In Kenyir Lake Resort Project

KUALA LUMPUR, June 26 (Bernama) -- The STG Group, developer of the Gold Coast Resorts projects, will be investing RM50 million in a lake holiday resort in Kenyir.

This development by the STG Group is its second in the East Coast Economic Region (ECER).

The first is the RM10 million Gold Coast Kuantan resort with 99 apartment suites, with a view of the South China Sea.

"The Gold Coast Kenyir development will be unique. The project will comprise a hotel mall with shops, longhouses and bungalows built over Kenyir Lake's serene waters," STG chairman, Datuk Dr Alex Tan said in a statement today.

The Gold Coast Kenyir project will be rolled out in March 2010.

The STG Group is targeting to be listed by 2012.

-- BERNAMA