LANDED ... IN SLIME AIRPORT!

Sime Darby gets govt nod for Labu LCCT plan.

KUALA LUMPUR: Sime Darby Bhd has received the government’s approval to proceed with the proposed private low-cost carrier terminal (LCCT) project in Labu, Negri Sembilan.

Sime Darby said in a statement to Bursa Malaysia on Monday the project was an integral part of its development plan for its Negeri Sembilan Vision City (NSVC).

Read TheStar HERE.

BUT Malaysia Airport Holdings Berhad (MAHB) has different views HERE.

.... and the latest on Institut Jantung Negara.

The EPU meeting with IJN proceed as scheduled. Sime Darby was not present.

In the meeting, Director General of EPU, Datuk Dr Sulaiman Mahbob informed the meeting that Government insist IJN to be privatised to Sime Darby. Dr Sulaiman is the former Director of Institut Integriti Malaysia , Malaysia Institute of Economic Research (MIER), and Secretariat of National Economic Action Council (NEAC).

The initial information received from EPU source revealed the rationale was to improve doctors pay package and increase financial capacity for expansion. It is similar to Sime Darby's expressed justification for their proposed takeover of IJN.

The IJN side dispute the rationale of EPU with the doctors' near 'unanimous' press statement on December 19th, 2008 and IJN's financial reserve of RM400 million. They argued that IJN raised more fund to finance expansion by leveraging on its reserve.

Sources said the representative from Ministry of Finance present strongly opposed to the privatisation and insisted IJN should remain a non-profit organisation. They explicitly expressed the Minister of Finance is opposed to the Sime Darby proposal.

 Another Brick in the Wall seems to have more.