ID :
71400
Wed, 07/22/2009 - 09:03
Auther :
Shortlink :
https://www.oananews.org//node/71400
The shortlink copeid
SIME DARBY LOOKING AT 100SQ KM DEVELOPMENT NEAR WEIFANG CITY, CHINA
PETALING JAYA (Malaysia), July 21 (Bernama) -- Malaysian conglomerate Sime Darby Bhd is sending a team to China to conduct further study on its proposed participation in the 700sq km economic development zone (EDZ) near Weifang city.
"The initial size that we are looking at is about 100sq km but the gross
development value we don't know yet," said its president and group chief
executive Ahmad Zubir Murshid Tuesday.
"We are actually going to do more study on the Weifang Industrial Park and
we will sent a team there.
"We have to look into what other things that we can develop," he told
reporters on the sidelines of the official launch of Sime Darby Property's "safe
city" project at Ara Damansara township here.
Last month, the company told Bursa Malaysia that it was in discussions with
the Weifang People's Government regarding the planning and development of EDZ,
and the focus was on enhancing the Malaysia-China economic cooperation.
Prime Minister Najib Razak, during his official visit to China, had
announced that the conglomerate had been offered a multi-billion dollar
development project in Weifang.
Sime Darby's involvement could be one of the biggest venture ever undertaken
by a foreign company in China. "Among others, Sime Darby will assist the Weifang
government in identifying suitable Malaysian companies to invest in this EDZ,"
the company had said in its Bursa filing.
Zubir said the project's masterplan would take several months to be ready.
Meanwhile on the company's financial performance, he said Sime Darby was
confident of achieving its target but the figures would not be as high as last
year's.
"But InsyaAllah it will be within our expectations. Although crude palm oil
prices have gone down, it would be offset by other divisions," he said.
Sime Darby is expected to release its full financial year results by next
month. For the year ended June 30, 2008, it recorded a pre-tax profit of RM5.206
billion compared with RM3.572 billion previously.
-- BERNAMA
"The initial size that we are looking at is about 100sq km but the gross
development value we don't know yet," said its president and group chief
executive Ahmad Zubir Murshid Tuesday.
"We are actually going to do more study on the Weifang Industrial Park and
we will sent a team there.
"We have to look into what other things that we can develop," he told
reporters on the sidelines of the official launch of Sime Darby Property's "safe
city" project at Ara Damansara township here.
Last month, the company told Bursa Malaysia that it was in discussions with
the Weifang People's Government regarding the planning and development of EDZ,
and the focus was on enhancing the Malaysia-China economic cooperation.
Prime Minister Najib Razak, during his official visit to China, had
announced that the conglomerate had been offered a multi-billion dollar
development project in Weifang.
Sime Darby's involvement could be one of the biggest venture ever undertaken
by a foreign company in China. "Among others, Sime Darby will assist the Weifang
government in identifying suitable Malaysian companies to invest in this EDZ,"
the company had said in its Bursa filing.
Zubir said the project's masterplan would take several months to be ready.
Meanwhile on the company's financial performance, he said Sime Darby was
confident of achieving its target but the figures would not be as high as last
year's.
"But InsyaAllah it will be within our expectations. Although crude palm oil
prices have gone down, it would be offset by other divisions," he said.
Sime Darby is expected to release its full financial year results by next
month. For the year ended June 30, 2008, it recorded a pre-tax profit of RM5.206
billion compared with RM3.572 billion previously.
-- BERNAMA
