A revamped Promet seeks major share of lucrative Malaysian dockyard pie

Article Abstract:

Promet Bhd. intends to acquire a major interest in the management of Lumut naval dockyard once it is privatized. The privatization of the dockyard was awarded to a five-member consortium for $179.4 million. Under the terms of the 10-year agreement, the consortium will maintain and repair ships for the Malaysian navy as well as handle future procurements. Promet plans to buy a direct interest in one of the five companies in the consortium or service as major contractor for the privatized venture.

Planning, Buildings and facilities, Malaysia. Navy

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Promet loses battle to survive region's financial crisis

Article Abstract:

Marine-engineering company Promet Bhd has turned to Malaysia's High Court to supervise its bankruptcy reorganization and to ask for protection from its creditors. Promet is the first publicly-traded company in Malaysia to fall because of the financial crisis. The company's restructuring plan calls for the reduction of share capital by 95% and transfer of control to the Safuan Group. Bank creditors of Promet will be paid 30 sen to 40 sen for every ringgit of debt.

Land Subdivision and Land Development, Subdividers & Developers, Malaysia, Liabilities NEC, Real estate developers, Mergers, acquisitions and divestments, Finance, Bankruptcy reorganizations, Bankruptcy reorganization, Safuan Group

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Bukaka sees infrastructure projects fueling growth

Article Abstract:

PT Bukaka Teknik Utama Pres. and CEO Fadel Muhammad predicts an earnings growth of 25%-30% over the next few years for the company. The optimistic view is based on the engineering firm's participation in new energy, transportation and telecommunications projects and the phenomenal growth of exports of manufactured goods to Asian markets. Indonesian-based securities analysts expect the company's earnings to leapfrog by more than 30 billion rupiah in 1995.

Forecasts and trends, India, PT Bukaka Teknik Utama

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