Latest news with #PML
The Star
a day ago
- Business
- The Star
Construction sector eyes growth with PML tender
CIMB Research believes the spotlight had shifted to the hotly contested systems package. PETALING JAYA: The construction sector looks poised for a new growth cycle as the systems package for the Penang Mutiara Line (PML) light rail transit (LRT) project approached a critical tender stage, expected to benefit seasoned infrastructure players with proven track records and strong balance sheets. Aimed at transforming Penang's urban mobility, the PML is a 29.5 km LRT system linking Komtar to Silicon Island, with a planned extension to Penang Sentral via a five km long bridge. MRT Corp, the project owner, was set to call for tenders for the bridge section by October 2025, according to a recent media report. Advanced works on the main civil stretch between Komtar and Silicon Island were due to begin this month. CIMB Research believed the spotlight had shifted to the hotly contested systems package, noting: 'Nevertheless, we opine that the near-term focus centres on the highly awaited systems package of the PML that has attracted attention from local and international contractors alike.' It was reported that at least seven consortia submitted bids for the systems contract, which includes rolling stock, signalling, and track components. MRT Corp's stringent eligibility requirements – such as RM500mil worth of urban rail experience in the past decade and local manufacturing presence – helped narrow the field to heavyweights with established rail credentials. The research house observed that 'bids requiring the least financial commitment from the government would gain the upper hand', especially since the contract involved capital expenditure and long-term leasing and maintenance obligations, possibly extending up to 30 years. Among the front-runners, Gamuda Bhd teamed up with China Railway Rolling Stock Corp (CRRC), which operates a plant in Batu Gajah, and Japan's Hitachi for signalling. MMC Engineering partnered with Hyundai Rotem for rolling stock, Hitachi for signalling, and Emrail for track works. YTL Group's consortium included CRRC, Siemens, and Emrail. Other notable bids came from Berjaya Rail with a China-based partner and Hitachi; a joint venture between Lion Pacific and WCT Holdings Bhd involving China High Speed Rail Co, Siemens, and China Harbour Engineering; Malaysian Resource Corp Bhd (MRCB) with Alstom; and Dhaya Maju Infrastructure Asia with Siemens and CRRC. 'Some of the bidders played a leading role during the construction of Klang Valley's urban rail and metro systems,' CIMB Research pointed out, noting that MMC-Gamuda built the Klang Valley's Kajang and Putrajaya mass rapid transit lines, while MRCB was progressing well on Phase 1 of the LRT3 and had secured a RM2.5il turnkey deal for Phase 2. CIMB Research noted that 'the systems package is estimated to cost less than RM3.5bil, although the research house believe the figure could be higher after incorporating the leasing/maintenance components.' With Siemens and Hyundai Rotem having previously assembled MRT rolling stock at the SMH Rail plant in Rawang, local assembly capacity could again prove decisive. MMC Engineering and Hyundai Rotem proposed building a new rolling stock facility in Malaysia, a move that could enhance localisation and ease financing commitments. Despite intense rivalry, CIMB Research flagged a potential surprise: 'While competition remains rife, we postulate that MRCB could emerge as the dark horse for the systems package.' Citing the group's healthy net gearing of 27% and solid infrastructure credentials, the firm noted that MRCB was also 'well-positioned to benefit from the Butterworth link', which could boost the value of its wholly-owned Penang Sentral project. Gamuda, meanwhile, continued to bolster its rail credentials through ongoing civil works on the Komtar–Silicon Island stretch, leveraging its proven track record in delivering turnkey projects domestically and abroad.
Cision Canada
24-07-2025
- Business
- Cision Canada
CPP Investments Sells Stake in Real Estate Joint Venture with Phoenix Mills
MUMBAI, India, July 24, 2025 /CNW/ - Canada Pension Plan Investment Board (CPP Investments) today announced that it has agreed to sell its 49% interest in Island Star Mall Developers Private Limited (ISMDPL), a strategic investment platform established with The Phoenix Mills Limited (PML). The stake will be sold to PML and affiliates. Net proceeds to CPP Investments from the sale will be approximately INR 54.5 billion (C$871 million) before closing adjustments. ISMDPL was set up by CPP Investments and PML in 2017 to develop retail-led mixed-use projects across India. The platform initially included Phoenix MarketCity Bangalore, a shopping mall in Bengaluru, and later expanded to include three additional retail development assets. "The Indian retail sector has experienced consistent growth, driven largely by favorable demographics and the expanding middle class," said Hari Krishna V, Managing Director, Head of Real Estate India, CPP Investments. "Through our longstanding partnership with Phoenix Mills, a seasoned retail-led mixed-use operator in India, we have been able to capture opportunities within this market. This investment generated strong returns for the CPP Fund. With net assets totalling C$30 billion in India, we continue to explore investment opportunities in the country across industries." Following the transaction, CPP Investments and PML continue to have other joint ventures in India, including a regional retail center in Kolkata and an office-led mixed-use asset in Mumbai. About CPP Investments Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 22 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At March 31, 2025, the Fund totalled C$714.4 billion. For more information, please visit or follow us on LinkedIn, Instagram or on X @CPPInvestments.
Malaysian Reserve
24-07-2025
- Business
- Malaysian Reserve
CPP Investments Sells Stake in Real Estate Joint Venture with Phoenix Mills
MUMBAI, India, July 24, 2025 /CNW/ – Canada Pension Plan Investment Board (CPP Investments) today announced that it has agreed to sell its 49% interest in Island Star Mall Developers Private Limited (ISMDPL), a strategic investment platform established with The Phoenix Mills Limited (PML). The stake will be sold to PML and affiliates. Net proceeds to CPP Investments from the sale will be approximately INR 54.5 billion (C$871 million) before closing adjustments. ISMDPL was set up by CPP Investments and PML in 2017 to develop retail-led mixed-use projects across India. The platform initially included Phoenix MarketCity Bangalore, a shopping mall in Bengaluru, and later expanded to include three additional retail development assets. 'The Indian retail sector has experienced consistent growth, driven largely by favorable demographics and the expanding middle class,' said Hari Krishna V, Managing Director, Head of Real Estate India, CPP Investments. 'Through our longstanding partnership with Phoenix Mills, a seasoned retail-led mixed-use operator in India, we have been able to capture opportunities within this market. This investment generated strong returns for the CPP Fund. With net assets totalling C$30 billion in India, we continue to explore investment opportunities in the country across industries.' Following the transaction, CPP Investments and PML continue to have other joint ventures in India, including a regional retail center in Kolkata and an office-led mixed-use asset in Mumbai. About CPP InvestmentsCanada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 22 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At March 31, 2025, the Fund totalled C$714.4 billion. For more information, please visit or follow us on LinkedIn, Instagram or on X @CPPInvestments.
Time of India
07-07-2025
- Business
- Time of India
Elaborate reporting norms likely under PMLA
The Financial Intelligence Unit (FIU) is eyeing a fresh framework for reporting entities under the Prevention of Money Laundering (PML) Rules and will approach the Reserve Bank to enhance reporting requirements , people familiar with the development said. Changes could include enhanced user details, immediate alert for any change in 'know your customer' (KYC) for accounts red-flagged for suspicious transactions and a fresh set of 'alert indicators' for capital market, money exchanges and bulk property or gems and jewellery purchases. The move aims to make disclosures more robust in the fintech and cryptocurrency space to prevent suspicious transactions before it is too late to track. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Monatelang ausverkauft – Ohrenreiniger Nummer 1 endlich wieder verfügbar! (70% Rabatt!) Apotheke Regional Undo "There is a need for enhancing the reporting requirement especially in fintech space and crypto currency, where enforcing agencies face maximum challenges. We are discussing it with RBI and other regulators and will formally approach them with a framework for detailed discussions," a senior official told ET. Live Events In April, both FIU-IND and RBI signed a memorandum of understanding (MoU) for better information exchange and effective implementation of requirements of the Prevention of Money Laundering Act and Rules. While most of these reporting agencies send their reports to the FIU on quarterly basis with suspicious transaction reports, officials said that by the time the report reaches, money crosses several borders making it difficult to get the trail. "The idea is that when a big bulk transfer or purchase happens, it will immediately send an alert to the internal system so that FIU can be immediately alerted, which makes it easier to track the transaction. This will also help FIU to generate meaningful intelligence for law enforcement agencies like the income tax department, ED and CBI, the official said. FIU had introduced the 'alert indicators' in 2022 for the capital market, but it is felt that these need to be revamped in view of technological changes over time. "The idea is to track order spoofing, misutilisation of client funds by stock brokers and suspicious off-market transactions by brokers and users," the official added.
Associated Press
25-06-2025
- Business
- Associated Press
RESCUE-II Study Results Demonstrate Safety and Feasibility of the BASHIR™ Endovascular Catheter (BEC) in Treating Pulmonary Embolism (PE) On-The-Table (OTT)
New Britain, PA June 25, 2025 --( )-- NeThrombolex, Inc., a medical device manufacturer committed to advancing solutions for the treatment of arterial and venous thromboembolic diseases, announced the publication of the results from the RESCUE-II Study in JACC: Advances. The RESCUE-II Study was a single-center, prospective study evaluating the safety and feasibility of OTT pharmaco-mechanical lysis (PML) without postprocedural infusion when treating patients with acute intermediate-risk PE. 9 patients were enrolled and successfully treated with low dose r-tPA (4mg per pulmonary artery) using the BEC. At 48 hours, the mean RV/LV ratio decreased by 22.3%, and pulmonary artery obstruction, as measured by the Refined Modified Miller Index, was reduced by 29.2%. There were no major bleeding events, no deaths or serious adverse events through 30-day follow-up. 'This marks a significant milestone for our Company, as we are proud to contribute high quality evidence to the field and remain committed to advancing innovative treatments.' said Michael Cerminaro, President & CEO of Thrombolex. 'We would like to thank Senator Steve Santarsiero and the Department of Community and Economic Development of the Commonwealth of PA for their grant funding support of this important clinical research.' 'The RESCUE-II Study demonstrated encouraging safety and feasibility, while reinforcing the clinical value of this novel OTT protocol,' said, Dr. Vlad Lakhter, IC at Temple University Hospital. 'These results warrant further investigation in larger, multicenter trials like the RAPID-PE Study, which is currently enrolling patients.' An independent data safety monitoring board adjudicated all clinical events for the RESCUE-II Study, while imaging data was assessed by an independent Core laboratory. The publication is available online in JACC: Advances: About Thrombolex, Inc. Founded in 2016, Thrombolex is engaged in the design, development, and distribution of innovative endovascular catheters used in interventional procedures, particularly in pharmaco-mechanical lysis (PML) in patients who suffer from arterial and venous thromboembolic conditions. The Company is currently marketing eight (8) different FDA-cleared devices that are all based on the BASHIR™ Endovascular Catheter platform technology. For general inquiries, please contact Thrombolex at [email protected] or for more information about Thrombolex and its solutions, visit Contact Information: Thrombolex, Inc. Tony Litwiller (704) 408-0927 Contact via Email Read the full story here: RESCUE-II Study Results Demonstrate Safety and Feasibility of the BASHIR™ Endovascular Catheter (BEC) in Treating Pulmonary Embolism (PE) On-The-Table (OTT) Press Release Distributed by
