Khazanah gets 95% acceptance
Khazanah Nasional’s wholly owned subsidiary, Integrated Healthcare Holdings Ltd (IHHL), has successfully closed the voluntary general offer (VGO) for Parkway Holdings Ltd Monday. The VGO closed at 5.30pm, at which time IHHL held and had received acceptances for 95% of the shares outstanding in Parkway. This offer by IHHL, which was initially launched as a partial offer for 313m shares of Parkway at an offer price of SGD3.78 per share on 27 May, was subsequently revised to a VGO on 26 July at a revised offer price of SGD3.95 per share, said Khazanah in a media statement. (StarBiz)
TMC Life founder to exit company?
A 25% stake representing 149.55m shares in healthcare player TMC Life Sciences changed hands in two offmarket trades for a sum of RM77.76m, or 52 sen per share, yesterday. Amos Siew Boon Yeong, executive director of TMC Life Sciences, declined to name the parties to the deal. The shares changed hands in two tranches of 120.36m and 29.19m shares. Based on the 2009 annual report, the 120.36m shares transferred appear to be an exact match to the shareholding of Datuk Dr Colin Lee Soon Soo, the founder and managing director of TMC Life Sciences. (Financial Daily)
UMW bags RM579m drilling job in Indonesia
UMW Holdings has secured a USD183.12m (RM578.66m) contract from Hess (Indonesia-Pangkah) Ltd in Jakarta for its jack up drilling rig, Naga 2, for exploration works in Indonesia. The contract involves drilling of seven firm wells and 13 option wells at the Pangkah WHP-B development drilling programme in the Ujung Pangkah Field located in the Pangkah PSC offshore, East Java. UMW said the job is expected to start in the first week of September this year and is for a period of 1,355 days or about 3.7 years. The contract is expected to boost its earnings and net assets for the financial year ending 31 Dec 2010 and onwards, it said. (Malaysian Reserve)
Adex in Malaysia up 22% at RM3.5bn in 1H10
Advertising expenditure (adex) in Malaysia breached the RM3.5bn mark for the first time in the first-half of 2010 (1H10), according to Carat Media Services (M) SB. The figure marked a year-on-year (y-o-y) growth of 22%, said the company using data sourced from Nielsen. Month-on-month adex growth stood at 6%, at RM681,000 from RM644,000 previously, Carat Media said in a statement yesterday. (Malaysian Reserve)
Genting to spend US$1.3b on NY deal
Genting Malaysia is to spend USD1.3bn to invest in its video lottery project in New York, according to an edited copy of the proposal posted on the New York lottery regulator’s website. A report submitted by Genting to New York regulators says it will pay a licensing fee of USD380m, USD350m to develop the site. It also says it plans to build a resort comprising 3 hotels, shopping and other facilities. (BT)
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