Naim Holdings Bhd (5073) plans to partner Cahya Mata Sarawak Bhd (CMS) and a local government agency to build a RM1.5 billion township in Samalaju, Sarawak, which will cater for the expected boom in the working population.

The Samalaju Industrial Park is located 80km north of Bintulu and the proposed township will be home to those who will work at a giant aluminium smelter and other high-technology industries.

The new township, covering an area in excess of 2,200ha a few kilometres from the Samalaju Industrial Park, will cater for the estimated 50,000 workers and their families.

Construction will start next year and the township will be developed over 10 years.
"The township is really required there. It won't work to have the workers commute between Bintulu and Samalaju," Bintulu Development Authority (BDA) general manager Datuk Mohidin Ishak said in Kuching.

Read more: Naim, Cahya Mata in RM1.5b project http://www.btimes.com.my/articles/samjuk8/Article/#ixzz0na7ZRseR

UMW Holdings Bhd (4588) expects its oil and gas (O&G) division to record strong double-digit revenue growth in 2010, backed by new exploration projects and the expansion of its pipe plant in Labuan.

Its president and group chief executive officer Datuk Abdul Halim Harun said the group expects general contribution of 35 per cent from the division this year.

"After a slump in 2009 due to lack of new projects, we expect to perform stronger this year with improved economic conditions," he said.

At present, 60 per cent of UMW's revenue comes from its automotive business, which covers distribution and sales to manufacturing and assembly of Toyota, Perodua and Lexus cars and related parts.

Read more: UMW sees strong O&G growth http://www.btimes.com.my/Current_News/BTIMES/articles/umlan/Article/#ixzz0na8YlOAl