Bumi Armada Bhd's unit, Armada Marine Contractors Caspian Pte Ltd, won a charter contract to lay about 15km of various sized pipelines in the Caspian Sea, off Turkmenistan. The offshore oilfield services provider in a statement said that the contract is for a period of 30 days, from May or early June with an extension period of a further 15 days. The company's executive director and chief executive officer Hassan Basma said the award together with the recent Lukoil-Nizhnevolzhskneft contract has brought the firm's order book to over RM7.0bil.  ' Business Times

Tan Sri Vincent Tan's Berjaya Sports Toto Bhd (BST) plans to spin off Sports Toto Malaysia Sdn Bhd (STM) into a business trust, with the intentions of listing the said trust on the Singapore stock exchange in a deal valued at more than RM6.0bil.

Vincent Tan indirectly owns some 53% of BST, whose wholly owned subsidiary STM is regarded as the jewel in the crown of the Sports Toto family. STM is the largest number forecast operator in the Malaysia both in terms of number of outlets and product offering.

In a nutshell, BST will divest STM to STMTrust for RM6.0bil, which will be done by issuing trust units and a promissory note. Under the deal, STM-Trust will issue 4.43 billion trust units at S$0.50 (RM1.24) a unit, while some RM527.4mil will be settled via the issuance of a promissory note, also by STMTrust.

The initial public offering will involve a up to one billion STM-Trust units in total, representing about 20.46% of the STM-Trust. This will be done via an offer for sale of up to 540 million trust units by Berjaya Sports Toto and issuance of 460 million new units by STM-Trust. The money raised by STM-Trust via the issuing of new units will be used to settle the RM527.4mil promissory note, and to defray expenses of the issue and for working capital. ' Business Times

Sime Darby Bhd has joined Malaysian developer SP Setia Bhd's bid for London's Battersea Power Station, Europe's largest brick building. In a statement, Sime Darby said the consortium is positive that its plan for a mixed-sustainable development will be well received.

The derelict 38-acre site on the south bank of the River Thames was put on sale in February after its owners failed to pay lenders owed more than ''500.0mil (RM2.5bil). SP Setia is one of three remaining bidders for the landmark power station, chief executive officer Tan Sri Liew Kee Sin said May 29. ' StarBiz

Minister of Energy, Green Technology and Water Datuk Seri Peter Chin Fah Kui said a tender for the construction of a new 1,000 megawatt (MW) power plant is expected to be out by end of this year. He said the Energy Commission will be conducting another competitive bidding exercise for the planting up of a new 1,000MW capacity power plant for commissioning in 2017.

The minister said there will also be new tenders for additional 2,000MW for commissioning in 2018 and 2019, depending on the outcome of the current competitive bidding exercise. The construction of these power plants is to meet the growing electricity demands of Malaysian homes, offices, and factories. ' Business Times

Source: AmeSecurities