Friday, October 19, 2007

GE, UEM Land Sign Agreement for Malaysian Project

(Bloomberg) -- General Electric Co., the world's second-biggest company by value, signed an initial agreement with UEM Land Sdn. to develop infrastructure and security in Malaysia's largest property project.

General Electric International Inc. today signed the three- year memorandum of collaboration with UEM Land, a unit of UEM World Bhd., the Malaysian company said in a statement in Kuala Lumpur today.

GE will provide technology to improve safety and security in UEM's Nusajaya property development in the southern Malaysian state of Johor, UEM said. The two companies will work together on environmental projects including water treatment, energy, aviation and transport, UEM said.

``GE needs to go wherever there are opportunities,'' Kamarulzaman Hassan, an analyst at TA Securities Sdn. in Kuala Lumpur, said before the signing. ``Everyone is going global. I don't think they can be tied at home.''

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