Mother moving up after those people had collected enough by pushing it down for the past 3 days with 1 lot each time. Time to move higher to TP of $3.10++
Hi yongyou, yes, I haven't been writing for quite a long time. But I m invested into this MMC. I see it coming. So only need to hold it as long as the market is not collapsing.
PUTRAJAYA (April 11): The Sabah portion of the Pan Borneo Highway upgrading works have been made official by the signing of a project delivery partner (PDP) agreement by the federal and state governments and the PDP, which includes public-listed MMC Corp Bhd and Khazanah Nasional Bhd-owned UEM Group Bhd.
The signatories of the agreement are Public Works Department chief of secretary Datuk Seri Zohari Akob, Sabah government's secretary Tan Sri Sukarti Wakiman, and Borneo Highway PDP Sdn Bhd managing director Ir Shahelmy Yahya.
Sixty percent of the PDP is owned by privately held Warisan Tarang Construction Sdn Bhd, while the remaining stake is owned by an equally owned joint venture between UEM Group and MMC Corp.
Prime Minister Datuk Seri Mohd Najib Abdul Razak and his deputy Datuk Seri Ahmad Zahid Hamidi bore witness to the signing ceremony.
Borneo Highway PDP, acting as the PDP of this 706-km highway construction, effectively becomes the single point of accountability to manage and supervise the first phase of the highway at the most optimal cost, and is responsible for completing it by Dec 31, 2021.
The first package of the Sabah side of Pan Borneo Highway is the Papar-Donggongon row that stretches 11.7 km. Most parts of this epic project will see the existing road becoming a dual carriageway with four lanes on each side.
The project is set to be launched by the end of April, according to a statement prepared by the Public Works Department. – theedgemarkets.com
OTHERS Description APPOINTMENT AS THE PROJECT DELIVERY PARTNER FOR THE IMPLEMENTATION OF PHASE 1 OF THE PAN BORNEO HIGHWAY (SABAH) MMC Corporation Berhad ("MMC" or "Company") is pleased to announce that Borneo Highway PDP Sdn Bhd ("BHP"), has on 11 April 2016 executed the Project Delivery Partner Agreement ("PDP Agreement") with the Government of Malaysia and the State Government of Sabah (collectively, the "Owner") in respect of the implementation of Phase 1 of the Pan Borneo Highway (Sabah) (“Project”).
BHP is 40% owned by UEM MMC Joint Venture Sdn Bhd (“UMJV”), which in turn is a jointly-controlled entity of MMC. MMC’s effective interest in BHP, via UMJV, is 20%.
The salient terms of the PDP Agreement
BHP shall perform its services in the implementation, supervision, management and delivery of the Project within the time and cost allocated for the Project.
The Completion Date for the Project is scheduled on 31 December 2021.
Source of Funds
MMC shall fund its share in BHP through internally generated funds and bank borrowings.
Financial Effects:
Share Capital and Substantial Shareholders' shareholdings
The Project will not have any effect on the share capital and substantial shareholders' shareholdings of MMC.
Earnings per Share
The Project is not expected to have any significant effect on the earnings of the MMC Group for the financial year ending 31 December 2016. However, it is expected to contribute positively to the future earnings of the MMC Group.
Net Assets (“NA")
The Project is not expected to have any significant impact on the NTA of the MMC Group for the financial year ending 31 December 2016.
Approval(s) Required
The execution of the PDP Agreement is not subject to the approval of the shareholders of MMC or any government authorities.
Directors' and Major Shareholders' Interest
None of the Directors, major shareholders or persons connected to them has any interest, direct or indirect, in the Project.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ivankvs
517 posts
Posted by ivankvs > 2016-04-05 09:28 | Report Abuse
^_^