News Item: : MTD Capital to finalise Colombo-Kandy job by end-March
(Category: Publication - The Edge)
Posted by Web Master
Thursday, 31 January 2008
KUALA LUMPUR: MTD Capital Bhd expects to finalise its talks with the Sri Lankan government on the RM2.2 billion Colombo-Kandy toll road project by end-March.
“The talks are going on favourably,†its group executive chairman Datuk Nik Hussain Abdul Rahman told reporters after MTD ACPI Engineering Bhd’s EGM here yesterday.
MTD ACPI Engineering, which supplies pre-cast concrete piles, will undertake the construction works of the Colombo-Kandy project.
The engineering arm of MTD Capital obtained shareholders’ approval on its proposed ratification for the private placement of 9.5 million new shares in MTD ACPI Engineering to Lembaga Tabung Haji.
“They are good investors, we are happy to have them to take this investment,†Nik Hussain said, adding that the placement exercise would raise some RM19.5 million.
The proceeds would be used for the group’s working capital requirements to finance its day-to-day operations, he added.
Citing its housing projects as an example, Nik Hussain said the group would be able to introduce new phase of housing projects with the proceeds.
MTD ACPI Engineering, formerly known as ACP Industries Bhd (ACPI), currently has an order book of RM2.5 billion that will keep the company busy over the next three years.
Meanwhile, Nik Hussain said its project on the South Luzon Expressway in the Philippines was progressing satisfactorily and it would drive the group’s earnings in the near future.
This news item is from MTD ACPI Engineering Berhad
( http://www.mtdacpi.com/news.php?extend.8 )
(Category: Publication - The Edge)
Posted by Web Master
Thursday, 31 January 2008
KUALA LUMPUR: MTD Capital Bhd expects to finalise its talks with the Sri Lankan government on the RM2.2 billion Colombo-Kandy toll road project by end-March.
“The talks are going on favourably,†its group executive chairman Datuk Nik Hussain Abdul Rahman told reporters after MTD ACPI Engineering Bhd’s EGM here yesterday.
MTD ACPI Engineering, which supplies pre-cast concrete piles, will undertake the construction works of the Colombo-Kandy project.
The engineering arm of MTD Capital obtained shareholders’ approval on its proposed ratification for the private placement of 9.5 million new shares in MTD ACPI Engineering to Lembaga Tabung Haji.
“They are good investors, we are happy to have them to take this investment,†Nik Hussain said, adding that the placement exercise would raise some RM19.5 million.
The proceeds would be used for the group’s working capital requirements to finance its day-to-day operations, he added.
Citing its housing projects as an example, Nik Hussain said the group would be able to introduce new phase of housing projects with the proceeds.
MTD ACPI Engineering, formerly known as ACP Industries Bhd (ACPI), currently has an order book of RM2.5 billion that will keep the company busy over the next three years.
Meanwhile, Nik Hussain said its project on the South Luzon Expressway in the Philippines was progressing satisfactorily and it would drive the group’s earnings in the near future.
This news item is from MTD ACPI Engineering Berhad
( http://www.mtdacpi.com/news.php?extend.8 )