BCorp plans separate listings for retail, food ops
Berjaya Corp, a diversified group, is planning separate listings of its retail and food businesses, said chairman and chief executive officer Tan Sri Vincent Tan. Berjaya Retail (BRetail), which operates 7-Eleven and Singer businesses in Malaysia, will be the first to go for listing. “After BRetail, we want to list Berjaya Food, hopefully by the end of this year”, says Tan. At the BRetail prospectus launch in Kuala Lumpur yesterday, it was stated that BCorp shareholders will be granted dividend-in-specie of one B-Retail share for every 10 existing RM1 share in BCorp. BRetail's tentative listing date is on 16 Aug 2010 and the initial public offering (IPO) is set to raise between RM38.44m and RM53.44m. Management also announced the possibility of a dividend payout of 50%. (BT and FinancialDaily)
New LCCT to be bigger than planned
The new permanent low-cost carrier terminal (LCCT) that will be ready by March 2012 will be bigger than previously planned. However, details of the revised cost, size and capacity of the new LCCT have yet to be announced by Malaysia Airports Holdings. Managing director Tan Sri Bashir Ahmad said MAHB can only reveal the details when the tender exercise for the terminal is closed. (BT)
MAHB’s MIA project costs USD373m
The Male International Airport (MIA) project in Maldives, which was won by the consortium of Malaysia Airports Holdings Bhd (MAHB) and GMR Infrastructure Ltd of India, will entail a construction cost of about USD373m and that the construction was expected to start by mid-2011 and completed no later than 1 July 1, 2014. The tenure of the concession is 25 years and extendable for another 10 years, subject to mutual terms and conditions between the relevant parties. The financial effects on the earnings per share, net assets per share and gearing of MAHB group cannot be determined at this point of time as discussion remains ongoing. (StarBiz)
MRCB share deal
Malaysian Resources Corp (MRCB) has entered into a conditional agreement to buy all the shares held by Gapurna SB in GSB Sentral SB which it does not own, representing a 60% equity interest, with 17.91m redeemable preference shares of 1 sen each for a purchase consideration of RM105m. GSB Sentral owns a lot measuring 91,040 sq ft along Jalan Brickfields which has been approved for a mixed development of office and service apartments with total gross floor area of 1.47m sq ft and an estimated gross development value of RM850m. (StarBiz)
LCL scouting for white knights
LCL Corp, which fell from grace after the Dubai financial crisis, is scouting for white knights to salvage the company, its executive chairman Datuk Low Chin Meng said yesterday. He said LCL had not found anyone suitable, adding that the white knight needed to be financially sizeable because of its huge debt financing. (FinancialDaily)
RM16m in listing proceeds
Focus Point Holdings, Malaysia's largest professional eye-care chain, aims to raise RM16.1m from its initial public offering (IPO), the bulk of which is to open 56 new stores. This will bring its total stores to 200 by the end of 2011. With some 144 eye-care centres nationwide, Focus Point holds 10% of the RM1.3bn professional eye industry. The group aims to open 22 fully-owned stores and 34 franchise stores, mostly in the Klang Valley, with a budget of RM7.8m. In addition, it wants to expand abroad to places like Singapore, Cambodia and Vietnam within the next two years. (BT)
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