Khazanah is in the process of evaluating three potential buyers for its 45.03% stake in Time Engineering. It is learnt that the three bidders are ICT consultancy Zamcorp Bhd, IT solutions company MM Tech Corp and an entity linked to prominent Tan Sri Syed Mokhtar.
After disposing TDC in Aug 2011, it was left with three core businesses – e-commerce, IT consultancy firm and IT solution provider. Time Eng sold its 24.7% stake in TCD for rm331.9 million.
After utilizing about 80% stake of this to pay off its debts, the company was left with rm68 million, which it says it available for investments, if any, as and when such opportunities arise and also for committed capital expenditure.
Its appeal is its cash pile, which the buyer will be able to access immediately. As at Sept 30, 2011 the company had rm132 million in cash or its equivalents and rm24.4 million in receivables, deposits and pre payments – and almost no debt. Besides this, there is not much appeal to TEB as its concessions are set too expire soon.
With the imminent entry of a new major shareholder, a change in leadership seems to be taking place. TEB announced that Datuk Gan had resigned.
After disposing TDC in Aug 2011, it was left with three core businesses – e-commerce, IT consultancy firm and IT solution provider. Time Eng sold its 24.7% stake in TCD for rm331.9 million.
After utilizing about 80% stake of this to pay off its debts, the company was left with rm68 million, which it says it available for investments, if any, as and when such opportunities arise and also for committed capital expenditure.
Its appeal is its cash pile, which the buyer will be able to access immediately. As at Sept 30, 2011 the company had rm132 million in cash or its equivalents and rm24.4 million in receivables, deposits and pre payments – and almost no debt. Besides this, there is not much appeal to TEB as its concessions are set too expire soon.
With the imminent entry of a new major shareholder, a change in leadership seems to be taking place. TEB announced that Datuk Gan had resigned.
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The part-time (evening) BE Civil Engineering course started this year at University Visvesvaraya College of Engineering (UVCE) has received a never-before response with 46 seats out of 60 total intake already filled. The reason for such attraction, according to Dr K R Venugopal, principal, UVCE, is the demand for engineering courses. “There is a great demand for engineering courses right now. And what makes evening courses attractive is the fact that working students can take advantage of enhancing knowledge and skills that they have already at work,” said Dr Venugopal.
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