Friday, Oct 05, 2007
KUALA LUMPUR (Dow Jones)--Scomi Group Bhd. (7158.KU) may set up assembly plants overseas if its logistics engineering unit wins at least half of the bids it's made for multibillion-dollar monorail projects, according to local media reports quoting Scomi Chief Executive Shah Hakim Zain.
Scomi Engineering Bhd. (7366.KU) has bid for 14 contracts to supply its Gen-2 monorail four-car train in Iran, India, Pakistan, Syria, Saudi Arabia, Thailand and Vietnam, the Business Times reported.
Scomi has also bid for northern Penang state's monorail project, he added, with the tender process closing on Nov. 14. That project is worth an estimated MYR1.6 billion ($469 million), the BT report added.
The outcome of the bids in Iran, Vietnam and the Saudi city of Medina, worth about $1.59 billion in total, is expected within the next six to 12 months, Scomi Engineering's Senior Vice-President Hilmy Zaini Zamal said recently, according to another report in the Edge Financial Daily.
Newspaper Web site: http://www.btimes.com.my, http://www.theedgedaily.com
-By Kuala Lumpur bureau; Dow Jones Newswires; 603-2692-5254; djnews.kl@dowjones.com
(END) Dow Jones Newswires
05-10-07 0035GMT
