Dialog Group Bhd is painting a rosy picture for 2012 with contributions from its RM5 billion independent deepwater petroleum terminal project at Pengerang in Johor, as well the Jubail supply base at the Jubail commercial port in Saudi Arabia.

Its executive director, Ngau Boon Keat, said the contribution from the Pengerang project would come almost immediately as the company designed and built the terminal.

"Dialog has invested RM7 million for the feasibility study on the project and will be allocating another RM16 million.

"The study is expected to be completed in another two to three months," he told a media briefing after the company's annual general meeting here today.

Ngau said the first phase of the project may take off in first quarter 2011 after the completion of the study and the environmental impact assessment in February.

"The first phase is expected to be completed in 2013. The second in 2015, while the third will take seven years to complete," he said.

The Johor state government and Vopak Asia Pte Ltd are Dialog's partners in the Pengerang project, which is an entry point project under the government''s National Key Economic Areas (NKEAs).

On the Jubail supply base project, Ngau said, it would start soon.

"We are calling for tenders and it is expected to be completed in the first quarter of 2012," he said.

It was reported that the base has the capacity to generate a billion-dollar business when fully completed over the next five to six years. - Bernama

Read more: Dialog bullish on 2012 outlook http://www.btimes.com.my/Current_News/BTIM...l#ixzz16CCbfnOt

KUALA LUMPUR: SUNWAY HOLDINGS BHD [] and SUNWAY CITY BHD [] will be merged under a proposed exercise undertaken by Sunway Sdn Bhd, which is controlled by Tan Sri Jeffrey Cheah Fook Ling.

The exercise announced on Wednesday, Nov 24 would see the new company (Newco) offering RM2.60 per Sunway share and RM1.50 per warrant and RM5.10 per SunCity share and RM1.29 per warrant. The offer would include the Newco shares and also cash and free warrants.

For Sunway City, the offer price would be via issuance of an equivalent value of Newco shares at RM2.80 per share, which is 80% of the offer price and cash, representing 20% of the offer price.