Axiata Group CEO Izzaddin confirms Celcom and Digi merger
Axiata Group Bhd president and group CEO Datuk Izzaddin Idris has confirmed the merger intentions between Celcom Axiata Bhd, a unit of the group, and Digi.com Bhd. He said under the new joint venture, the merged entities will be named Celcom Digi Bhd. As part of the merger, Axiata will receive 33.1 per cent of new shares in Digi worth about RM2 billion, of which RM1.7 billion is to come from Digi as new debt. The remaining RM300 million will be from Telenor. “With the Dual Brand Strategy in place this will effectively target different segments, while improving cost structure, allowing for better pricing. Also with convergence in play, both companies will be able to leverage on improved financial capabilities to aggressively grow the segment,” he explained. Both Telenor and Axiata announced their plan to merge two years ago, only to call it off several months later. Izzaddin said he does not foresee any impediments this time around. He assured staff in both companies that there would not be any forced layoffs. (Malay Mail)
Melaka to reinstate its maritime hub and trade glory via M-WEZ
Melaka state government is expecting between RM3 billion and RM4 billion or about 5% in the state’s annual GDP to come from Melaka Waterfront Economic Zone (M-WEZ) by 2035. Chief Minister Datuk Sulaiman Md Ali said the target would exclude contribution via direct income taxes to the federal government by companies operating in the zone. He said the state’s main focus was to boost the maritime sector as a major economic contributor. “Straits of Melaka is the world’s busiest shipping lane with about 100,000 vessels annually. It gives an opportunity for Melaka to attract potential investors to invest in our port with various facilities and high technology for shippers,” he said. Sulaiman said the state government will encourage the development of container and general cargo ports, cruise and ferry terminals, free-trade zones, logistics hub, oil and gas terminals, ship repair yards and ship-to-ship (STS) transfer facilities. M-WEZ will have five distinct clusters namely the Melaka Harbourfront, Smart Logistic Nucleus, Digital Satellite Township, Central Eco Business Park and Trade Nucleus New Township. (NST Online)
LBS Bina unit signs deal with Melaka government to reclaim, develop 1,200 acres of land
LBS Bina Group Bhd’s unit has signed an agreement with the Melaka government to reclaim and develop land spanning 1,200 acres in Tanjung Bruas. The group announced that its indirect subsidiary Leaptec Engineering Sdn Bhd has signed a reclamation and development agreement (RDA) with the Melaka government to reclaim and develop the land into an industry hub with port facilities. This is part of the Melaka Waterfront Economic Zone, which spans 25,000 acres along Melaka’s coastline. The industrial hub will also include logistic and warehouse, manufacturing, liquefied natural gas, port-related businesses and other related economic sectors. Once the land has been reclaimed, Leaptec will be entitled to 4/5 of the reclaimed land with the Melaka government entitled to the remaining 1/5. “With the group’s strong presence and foothold in the Guangdong province, China, the company could also further leverage on the “friendly state and province” relationships between Melaka and Guangdong to explore bilateral investment corporations and establishments,” LBS Bina said. (The Edge)
Trinity Group to launch RM1bil property projects within a year
Property developer Trinity Group Sdn Bhd aims to roll out three property projects worth RM1 billion in the Klang Valley within a year. It said the projects are namely, Trinity Wellnessa in Ampang North which is targeted for launch in July 2021, as well as Trinity Enlivea, which is also located in Ampang North, and a mixed development in Bandar Kinrara, both slated for launch next year. Combined, these three projects constitute an estimated GDV of about RM1 billion. It said the company is also looking to grow its presence in the Klang Valley, beyond its stronghold in Puchong and Bukit Jalil. Acknowledging the challenging market environment, founder and managing director Datuk Neoh Soo Keat said the company remains confident that demand for the projects would meet the interest of buyers, driven by strategic location, attractive price-points and compelling concepts featuring innovative designs as well as layouts. (The Star)
MySejahtera can be expanded to become super app, says Saifuddin
The use of the MySejahtera application is capable of being expanded to the e-commerce, education, delivery services sectors, besides functioning as a super app. Communications and Multimedia Minister Datuk Saifuddin Abdullah said that if its use is expanded, the application currently used by nearly 25 million Malaysians would be able to provide various services under one platform. “With this, we at KKMM (the Ministry of Communications and Multimedia) will continue with efforts to develop not only the telecommunications infrastructure but also double the use of digital technology to realise MyDIGITAL’s aspirations for the benefit of everyone towards the Fourth Industrial Revolution (Industry 4.0) and common prosperity,” he said. (The Edge)
