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NEWS UPDATES 7 June 2009

Malaysian, Chinese firms in joint venture to build $200m LNG tanker

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Malaysia shipping firm MISC Bhd and China LNG Shipping (Holdings) Co will build a tanker to transport liquefied natural gas between the two countries, Reuters reported, quoting The Edge, a Malaysian business weekly.

The companies will have equal stakes in the joint venture to build the vessel which would cost about $150 million-$200 million, The Edge said, citing unnamed sources.
MISC was not immediately available for comment.

Malaysian plantations-to-property firm Sime Darby will lead a multi-billion ringgit construction project in China, The Star, a Malaysian newspaper reported Saturday.

The 700-square km development would be located in Weifang prefecture in Shandong, Malaysian Prime Minister Najib Razak was quoted as saying by The Star during his visit to Beijing. The report did not provide the exact value of the project.


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