Shariah Finance - Islamic finance newsletter / Portfolio news

>>Home >>Islamic finance newsletter - Portfolio news

Portfolio news

We are growing up to the worldwide company by the investment knowhow. Let's do the investment of the Islamic finance with Shariah Finance.

International | Domestic

	2009-12-08	TKS ATTRACTS $76M
	S. Korean Shipbuilder TKS Attracts $76 Million in Foreign Investment TKS (Top of Korea Ship building), a South Korean mid-sized shipbuilder, successful won an order worth $76 million (roughly 82 billion won) from Malaysia’s second largest shipbuilding company NGV TECH SDN BHD. Not only did TKS secure new funds, but the company managed to earn a stable source of order from NGV to build at least six units of 3-ton vessel every year. South Korea’s mid-sized shipbuilding companies suffering from a lack of orders will be able to learn from the exemplary model recently set by TKS to recover from a restructuring process of securing fund and order simultaneously. TKS representative Ko Gyung-joo and NGV Tech Chairman Zulkifli Shariff inked a contract on the Malaysian shipbuilder acquiring 66 percent of stakes of TKS worth $76 million in Lankawi, Malaysia on December 2. Mahathir Mohamad, former Malaysian Prime Minister, Malaysia's Prime Minister Najib Razak, Malaysian Defence Minister Datuk Seri Dr Ahmad Zahid Hamidi and Tan Sri Abdu Aziz and Malaysian politician from the United Malays National Organisation (UMNO) joined the signing ceremony. The signing ceremony was a main event in the biennial LANGKAWI INTERNATIONAL MARITIME & AEROSPACE EXHIBITION (LIMA) which reflected the heightened interest of the Malaysian government. NGV is to invest additional $100 million in South Korea over the next two years to reinforce a vertical relationship in the shipbuilding industry by acquiring an engine-related company. Furthermore, TKS seeks to be listed in the South Korean stock exchange by 2012. Meanwhile, NGV is slated to be listed in the Malaysian stock exchange in May 12 2010. [written by Nam-sik Suk-Yen-mi Hong/ edited by Jae-yoon Jung]

2009-12-03

NGV TECH

of 1

To Pagetop

　>>Home 　 >>SiteMap 　 >> About Us 　 >> Contact Us